| Institution Type | Credit Union / Cooperative |
| Is this institution regulated? | No |
| Website address | N/A |
| Year established | 2003 |
| Head of Institution | JOSE SANTOS CHANGO UÑOG |
| Regions active | |
| # Branches | 6 |
| Total Portfolio (nat'l) | USD 16,830,803 |
| Total Portfolio (USD) | USD 16,830,803 |
| Active clients with loans | 5,308 |
| Approximate % female clients | 20% - 40% |
| Approximate % urban clients | 0% - 20% |
| Network affiliations | |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Consumo | USD 200 - 20,000 | 2 - 30 | 20% - 40% | 0% - 20% | Business, Housing, Consumer, Education, Other | Women, Men | Credit Educ | |||||||
| Microcredito | USD 400 - 50,000 | 4 - 30 | 0% - 20% | 0% - 20% | Business, Housing, Consumer, Education, Other | Women, Men | Credit Educ |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Consumo | 15.2%-18.0% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.0% upfront | 13.3% - 15.4% | 15.7% - 18.3% | 87 | ||||||||
| Microcredito | 18.0% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.0% upfront | 15.4% - 23.1% | 18.2% - 27.1% | 77 |
| Outstanding portfolio (KES) | KES 207,715,811.50 |
| Portfolio (USD) | USD 2,508,645.07 |
| Active Clients with Loans | 5,770 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | Health insurance - optional |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 5 |
| # Regions for this product | 5 |
| Regions Active | Central, Eastern, Nairobi, Rift Valley, Western |
| Currency | KES |
| Minimum loan size | KES 5,000 |
| Maximum loan size | 300,000 |
| Loans less than KES 50,000 | 60% |
| KES 50,000-150,000 | 20% |
| KES 150,000-250,000 | 10% |
| KES 250,000-350,000 | 10% |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 3.0 months |
| Longest loan term | 18.0 months |
| Approx average | 9.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 30% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 40% |
| Between 13 and 18 months | 10% |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.3 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 22.00% |
| Highest quoted nominal interest | 22.00% |
| 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 | Loan Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 20.00% |
| 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 | 0.50% |
| Maximum interest rate paid | 0.50% |
| Interest payment frequency | End Term |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 8,000 | KES 30,000 | KES 50,000 | KES 100,000 | KES 200,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2013-06-11 | 2013-06-20 | 2013-06-03 | 2013-07-05 | 2013-07-24 | ||||
| Loan Term (Months) | 6.0 months | 12.0 months | 12.0 months | 12.0 months | 12.0 months | ||||
| Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | 0.2 months | 0.2 months | ||||
| Total Cost of Credit | KES 1,120 | KES 7,500 | KES 12,500 | KES 25,000 | KES 50,000 | ||||
| True Price by Comp | |||||||||
| Interest price component | 38.1% | 38.9% | 38.9% | 38.9% | 38.9% | ||||
| Fee Component | 3.8% | 2.1% | 2.1% | 2.0% | 2.0% | ||||
| Insurance Component | 7.6% | 4.1% | 4.1% | 4.2% | 4.2% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 63.5% | 36.0% | 30.2% | 26.2% | 24.3% | ||||
| Full APR (int fee ins tax dep) | 113.0% | 81.1% | 75.3% | 71.3% | 69.4% | ||||
| Transparency Index | 19 | 27 | 29 | 31 | 32 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Key Statistics | |
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % 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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