Business Initiative and Management Assistance Services (BIMAS) - Mifugo Loan - MFTransparency.org Truth In Lending Tables

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Institution

Business Initiative and Management Assistance Services (BIMAS) 2299 EmbuKenya60100

Data approved: 2010-09-14

Data version: 1

Age of data: - months

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Product

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Product Details

Key Statistics

Outstanding portfolio (KES)	KES 3,957,321
Portfolio (USD)	USD 47,793.73
Active Clients with Loans	132
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	40% - 60%

Methodology

Individual
Solidarity group
Village banking	x
Self help group
Other

Description

It's an agribusiness loan for advancing dairy farmers

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other	Agricultural loan
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits
Business training	x
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	KES
Minimum loan size	KES 50,000
Maximum loan size	80,000

Loan Term and Grace Period

Shortest loan term	9.0 months
Longest loan term	12.0 months
Approx average	12.0 months

Grace Period

Grace period usage	0
Average grace period	0.3 months

Repayment Frequency

Daily	x
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

Pricing Information

Interest

Lowest quoted nominal interest	17.00%
Highest quoted nominal interest	17.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	N/A
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Passbook Fee
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	100
Fixed amount - max	100
Reason for variation
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Loan Application and Insurance
% of loan amount - min	5.00%
% of loan amount - max	5.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

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?
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	25.00% - N/A
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	KES 100 - N/A
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	0.33%
Maximum interest rate paid	0.50%
Interest payment frequency	Monthly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

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