Business Initiative and Management Assistance Services - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 143 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Business Initiative and Management Assistance Services P.O. Box 2299 60100Embu, Central

Data approved: 2013-07-16

Data version: 2

Age of data: 143 months

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Institution Details

Institution Type	Non-Governmental Organization
Is this institution regulated?	No
Website address	http://www.bimaskenya.com
Year established	1997
Head of Institution	Patrick Gathondu
Regions active	Central, Eastern, Nairobi, Rift Valley
# Branches	19

Total Portfolio (nat'l)	KES 397,880,258
Total Portfolio (USD)	USD 4,805,317.13
Active clients with loans	10,118
Approximate % female clients	40% - 60%
Approximate % urban clients	40% - 60%
Network affiliations
Funders

Loan Products » Summary

Hitimu

177 Borrowers

USD 36,426.97 Portfolio

Active Product

Imarika

339 Borrowers

USD 212,004.75 Portfolio

Active Product

Mama Plus

1,362 Borrowers

USD 331,099.98 Portfolio

Active Product

Mifugo

176 Borrowers

USD 75,449.82 Portfolio

Active Product

Msingi

8,244 Borrowers

USD 2,621,006.47 Portfolio

Active Product

Upesi

715 Borrowers

USD 98,801.78 Portfolio

Active Product

Biashara

156 Borrowers

USD 1,304,347.83 Portfolio

Active Product

Loan Products » Conditions

Product Name	Loan Size Range	Loan Term (months)	% Female	% Urban	Loan Purpose	Eligibility	Other Services
Hitimu Loan	KES 10,000 - 80,000	3 - 12	40% - 60%	40% - 60%	Education	Women, Men	Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training
Imarika Loan	KES 50,000 - 200,000	3 - 18	40% - 60%	40% - 60%	Business	Women, Men, Have business	Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training
Mama Plus Loan	KES 10,000 - 200,000	6 - 12	80% - 100%	40% - 60%	Business	Women, Have business	Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training
Mifugo Loan	KES 50,000 - 100,000	9 - 12	40% - 60%	40% - 60%	Agriculture	Women, Men, Have business	Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training
Msingi Loan	KES 20,000 - 300,000	3 - 18	40% - 60%	40% - 60%	Business, Agriculture	Women, Men, Have business	Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training
Upesi Loan	KES 10,000 - 50,000	3 - 6	40% - 60%	40% - 60%	Business, Consumer, Other	Women, Men, Have business	Credit Educ, Group Mtgs, Business Training, Other Training
Biashara Loan	KES 300,000 - 3,000,000	18 - 24	40% - 60%	0% - 20%	Business	Women, Men, Have business	Credit Educ, Credit Ins, Business Training

Loan Products » Pricing Information

Product Name	Annual Nominal Interest	Fees	Insurance	Taxes	Compulsory Deposit	APR (int+fee)	Full APR	Transparency Index
Hitimu Loan	22.0% annual, Flat	1 Fee	1 Ins	None	25.0% upfront 100.00 ongoing	42.4% - 43.9%	81.1% - 122.3%	23
Imarika Loan	22.0% annual, Flat	1 Fee	1 Ins	None	15.0% upfront 200.00 ongoing	42% - 42.9%	64% - 77.2%	31
Mama Plus Loan	8.0% annual, Flat	1 Fee	1 Ins	None	15.0% upfront 100.00 ongoing	20.2% - 24.4%	33.3% - 57.4%	18
Mifugo Loan	22.0% annual, Flat	1 Fee	1 Ins	None	25.0% upfront 100.00 ongoing	42.9% - 44%	86.3% - 96.4%	24
Msingi Loan	22.0% annual, Flat	1 Fee	1 Ins	None	10.0%-25.0% upfront	40.8% - 44%	66.5% - 80.6%	30
Upesi Loan	24.0% annual, Flat	0 Fees	0 Ins	None	N/A	39.4% - 40.7%	39.4% - 40.7%	60
Biashara Loan	22.0% annual, Flat	2 Fees	1 Ins	None	1,000.00 ongoing	42.2% - 44.1%	46.2% - 48.2%	47

Institution Price Graph

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Please note that the information you are viewing is 159 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Meklit MFI Ayer TenaAddis AbabaPO Box 27634

Data approved: 2011-12-23

Data version: 1

Age of data: 159 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (ETB)	ETB 4,312,000
Portfolio (USD)	USD 234,347.83
Active Clients with Loans	616
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	60% - 80%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

This is a loan for individuals who own businesses. The loan must be collateralised and repaid monthly. The interest rate is 22%, and loan term is 12-24 months.

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
Credit insurance	x
Workplace visits
Business training
Other training
Other
Other (2)
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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	ETB
Minimum loan size	ETB 8,000
Maximum loan size	50,000

Loan Term and Grace Period

Shortest loan term	12.0 months
Longest loan term	24.0 months
Approx average	12.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthly	x
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

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?
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Service Charge
% of loan amount - min	2.00%
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Loan Insurance
% of loan amount - min	0
% of loan amount - max	1.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	<1000 ETB=1%,<2000 birr=1.2%,<3000 ETB=1.3%, <4000ETB=1.4%, <5000 ETB=1.5%. Over 5000 ETB=0
Appears on Repayment Sched?	Yes

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	Yes
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	5.00% - 15.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	5.00% - 15.00%
or, Fixed-amount deposited	0
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	5.00%
Maximum interest rate paid	5.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

Compulsory savings: <5000 ETB = 15%, <10,000 ETB Loan = 10%, >1 10,000 ETB Loan = 5%. Client deposits monthly the same amount, e.g 15% upfront plus 15% over the term of the loan in monthly installments. Interest savings is compounded semi-annually.

Full Pricing Data

Business Loan - Individual samples

	Sample 1	Sample 2	Sample 3
Loan Amount	ETB 10,000	ETB 40,000	ETB 50,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-06-25	2011-10-25	2011-08-15
Loan Term (Months)	24.0 months	36.0 months	36.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	40.0%	38.1%	38.1%
Insurance Component	1.7%	1.3%	1.3%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	4.9%	4.2%	4.2%
Full APR (int fee ins tax dep)	46.6%	43.6%	43.6%
Transparency Index	47	50	50

Original Repayment Schedule	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF

Business Loan - Individual Price Graphs

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Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
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Institution

Institution Details

Loan Products » Summary

Loan Products » Conditions

Loan Products » Pricing Information

Institution Price Graph

Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Loan Term and Grace Period

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Additional Comments

Full Pricing Data

Business Loan - Individual samples

Business Loan - Individual Price Graphs

Total Borrowers of Samples

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