| Institution Type | Credit Union / Cooperative |
| Is this institution regulated? | No |
| Website address | N/A |
| Year established | 1996 |
| Head of Institution | Yolanda Haro Davila |
| Regions active | |
| # Branches | 7 |
| Total Portfolio (nat'l) | USD 7,934,963.10 |
| Total Portfolio (USD) | USD 7,934,963.10 |
| Active clients with loans | 2,059 |
| Approximate % female clients | 20% - 40% |
| Approximate % urban clients | 20% - 40% |
| Network affiliations | Red Financiera Rural, Ucaccentro |
| Funders | Red Financiera Rural, Ucaccentro |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Credi - Emergente | USD 200 - 500 | 3 - 8 | 40% - 60% | 40% - 60% | Any Purpose | Women, Men, Have business, Have home or land, Salaried worker, Hacer un ahorro mensual de minimo 10,00 mensuales durante 1 año. | ||||||||
| Microcredito | USD 100 - 20,000 | 1 - 48 | 80% - 100% | 60% - 80% | Business | Women, Men, Have business, Have home or land, Salaried worker | Credit Ins |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Credi - Emergente | 19.0% annual, Decl Bal | 0 Fees | 1 Ins | None | 10.00 ongoing | 0% | 0% | N/A | ||||||||
| Microcredito | 18.0% annual, Decl Bal | 0 Fees | 1 Ins | None | 5.00 ongoing | 0% | 0% | N/A |
| Outstanding portfolio (KES) | KES 3,382,653.16 |
| Portfolio (USD) | USD 40,853.30 |
| Active Clients with Loans | 157 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | Leadership Training |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | x |
| Other | |
| Other (2) |
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Coast |
| Currency | KES |
| Minimum loan size | KES 5,000 |
| Maximum loan size | 150,000 |
| Loans less than KES 50,000 | 100% |
| KES 50,000-150,000 | 0 |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 18.0 months |
| Approx average | DK |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 10% |
| Between 10 and 12 months | 10% |
| Between 13 and 18 months | 80% |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 21.00% |
| Highest quoted nominal interest | 21.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Application Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 400 |
| Fixed amount - max | 0 |
| Reason for variation | KES 400 Minimum |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Emergency Fund |
| % of loan amount - min | 1.50% |
| % of loan amount - max | 1.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | Rural loans <30,000 KES =15%. Loans >30,000 KES = 10%. Urban loans <100,000 KES = 15%. Loans >100,000 KES = 10% |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% - 15.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 100 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | KES 10,000 | KES 30,000 | KES 50,000 | KES 100,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2013-06-03 | 2013-04-11 | 2013-04-10 | 2013-04-23 | |||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | 17.0 months | |||
| Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | 0.5 months | |||
| Total Cost of Credit | KES 2,650 | KES 7,150 | KES 11,750 | KES 34,000 | |||
| True Price by Comp | |||||||
| Interest price component | 37.8% | 37.8% | 37.8% | 38.2% | |||
| Fee Component | 8.4% | 2.7% | 2.1% | 1.4% | |||
| Insurance Component | 3.2% | 3.2% | 3.1% | 2.3% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 32.1% | 18.3% | 10.4% | 9.4% | |||
| Full APR (int fee ins tax dep) | 81.5% | 62.0% | 53.4% | 51.3% | |||
| Transparency Index | 26 | 34 | 39 | 41 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Key Statistics | |
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| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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