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Institution
Data approved: 2013-06-20
Data version: 2
Age of data: 141 months
Key Statistics
| Outstanding portfolio (KES) | KES 29,500,723 |
| Portfolio (USD) | USD 356,288.93 |
| Active Clients with Loans | 2,912 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 60% - 80% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Loan designed for groups of 5-25 individuals in a group, for both ongoing and start up businesses.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | Home-based care training |
| Other (2) | HIV/AIDS counseling |
| No other services | |
Eligibility
| 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) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 3 |
| # Regions for this product | 3 |
| Regions Active | Nyanza, Rift Valley, Western |
Loan Conditions
Loan Amount
| Currency | KES |
| Minimum loan size | KES 3,000 |
| Maximum loan size | 78,000 |
Distribution at Disbursement (Est.)
| Loans less than KES 50,000 | 70% |
| KES 50,000-150,000 | 30% |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 18.0 months |
| Approx average | 9.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 40% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 100% |
| Average grace period | 0.3 months |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 18.00% |
| Highest quoted nominal interest | 36.00% |
| Reason(s) why interest rate varies | Nominal interest rate varies based on the loan term. Shorter term loans attract higher annual rates. |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Loan Application Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 1,000 |
| Fixed amount - max | 1,000 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
| Ins 1 |
|---|
| Description | Insurance Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 400 |
| Fixed amount - max | 0 |
| Reason for variation | First cycle loan pay 400 and multiple cycle loans pay 3% |
| Appears on Repayment Sched? | No |
Compulsory Deposit
| Required for | Some |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 20.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 200 |
| Conditions on access to deposit | Access During |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Compulsory deposit: Upfront deposit of 20% required on multiple cycle loans only. Continuing deposit of 200 KES required on all loans.
Full Pricing Data
Business Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | KES 7,500 | | KES 30,000 | | KES 55,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-07-15 | | 2013-07-15 | | 2013-07-15 |
| Loan Term (Months) | 5.8 months | | 9.0 months | | 11.0 months |
| Grace Period (Months) | 0.2 months | | 0.2 months | | 0.2 months |
| Total Cost of Credit | KES 2,744 | | KES 7,299.64 | | KES 12,538.24 |
| True Price by Comp | | | | | |
| Interest price component | 65.7% | | 45.3% | | 34.7% |
| Fee Component | 59.3% | | 9.6% | | 4.0% |
| Insurance Component | 18.8% | | 7.1% | | 5.4% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 89.1% | | 95.5% | | 65.9% |
| Full APR (int fee ins tax dep) | 232.9% | | 157.5% | | 110.0% |
| Transparency Index | 8 | | 11 | | 16 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Business Loan Price Graphs
