Family Bank Ltd. - Biashara Boost Loan - MFTransparency.org Truth In Lending Tables

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Institution

Family Bank Ltd. NairobiKenyaP.O. Box 74145

Data approved: 2010-09-13

Data version: 1

Age of data: 173 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (KES)	KES 510,000,000
Portfolio (USD)	USD 6,159,420.29
Active Clients with Loans	5,500
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group	x
Village banking
Self help group
Other

Description

Biashara Boost is a loan product targeting Micro & SMEs who are in business or want to venture into viable ones

Loan Purpose

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

Included Services

Credit education	x
Group meetings
Credit insurance	x
Workplace visits	x
Business training	x
Other training	x
Other	Book-keeping skills
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	Can use loan to start a business
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 5,000
Maximum loan size	500,000

Loan Term and Grace Period

Shortest loan term	6.0 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	1.60%
Highest quoted nominal interest	1.60%
Interest rate period	Monthly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	Processing Fee	Legal Fee
% of loan amount - min	3.00%	0
% of loan amount - max	3.00%	0
OR, Fixed amount - min	0	0
Fixed amount - max	0	2,000
Reason for variation	N/A	Applied to amounts above KES 100,000
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Insurance Fee
% of loan amount - min	3.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	0.3% of the loan amount x number of months
Appears on Repayment Sched?	Yes

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/A
Is deposit indicated on the repayment schedule?	N/A
Do borrowers control deposit in their group?	N/A

Deposit BEFORE or AT Disbursement

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

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Biashara Boost Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	KES 10,000	KES 25,000	KES 50,000	KES 100,000	KES 200,000	KES 300,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2009-12-18	2009-11-09	2010-01-22	2009-12-28	2009-12-08	2009-12-08
Loan Term (Months)	6.0 months	12.0 months	12.0 months	6.0 months	12.0 months	12.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	44.0%	40.8%	41.4%	48.5%	42.6%	39.8%
Insurance Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	44.0%	40.8%	41.4%	48.5%	42.6%	39.8%
Transparency Index	44	47	46	40	45	48

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

Biashara Boost Loan Price Graphs

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

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