| 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 |
| 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 |
| 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 |
| Outstanding portfolio (TZS) | TZS 586,342,567 |
| Portfolio (USD) | USD 368,768.91 |
| Active Clients with Loans | 2,393 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 0 |
| Individual | |
| Solidarity group | |
| Village banking | x |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 4 |
| # Regions for this product | 7 |
| Regions Active | Dodoma, Kagera, Kilimanjaro, Morogoro, ShinyangaSingida, Tanga |
| Currency | TZS |
| Minimum loan size | TZS 50,000 |
| Maximum loan size | 1,000,000 |
| Loans less than TZS 350,000 | 90% |
| TZS 350,000-1,250,000 | 10% |
| TZS 1,250,000-2,000,000 | 0 |
| TZS 2,000,000-3,000,000 | 0 |
| TZS 3,000,000-4,000,000 | 0 |
| Greater than TZS 4,000,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 8.0 months |
| Approx average | 7.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 70% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | x |
| Irregular payments |
| Lowest quoted nominal interest | 5.00% |
| Highest quoted nominal interest | 5.00% |
| Reason(s) why interest rate varies | No Variation |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | Yes |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 8.00% |
| % of loan amount - max | 8.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Insuarance |
| % 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? | Yes |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | TZS 250,000 | TZS 300,000 | TZS 350,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2014-02-12 | 2014-01-09 | 2014-04-01 | ||
| Loan Term (Months) | 6.0 months | 7.0 months | 8.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | TZS 100,000 | TZS 120,000 | TZS 175,000 | ||
| True Price by Comp | |||||
| Interest price component | 52.9% | 45.2% | 51.2% | ||
| Fee Component | 16.9% | 14.4% | 12.7% | ||
| Insurance Component | 4.4% | 3.8% | 3.4% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 7.7% | 6.5% | 6.6% | ||
| Full APR (int fee ins tax dep) | 81.9% | 69.9% | 73.9% | ||
| Transparency Index | 73 | 86 | 81 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
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| # 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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