Institution Type | Non Bank Financial Institution |
Is this institution regulated? | No |
Website address | http://www.eclof-kenya.org/ |
Year established | 1994 |
Head of Institution | Mary Munyiri |
Regions active | Central, Eastern, Nairobi, Nyanza, Rift Valley, Western |
# Branches | 16 |
Total Portfolio (nat'l) | KES 470,400,975 |
Total Portfolio (USD) | USD 5,681,171.20 |
Active clients with loans | 19,987 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 20% - 40% |
Network affiliations | ECLOF International, AMFI |
Funders | ECLOF International, Water.org, Church of Sweden |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Elimu Bora Loan | KES 5,000 - 200,000 | 3 - 12 | 40% - 60% | 0% - 20% | Education | Women, Men, Have business | Credit Educ, Credit Ins | |||||||
Jinue Loan | KES 5,000 - 30,000 | 6 - 18 | 40% - 60% | 0% - 20% | Business, Consumer | Women, Men, Have business | Credit Educ, Credit Ins | |||||||
Jiwezeshe Loan | KES 5,000 - 300,000 | 6 - 36 | 40% - 60% | 0% - 20% | Business | Women, Men, Have business | Credit Educ, Credit Ins | |||||||
Tatua Shida Loan | KES 5,000 - 50,000 | 3 - 6 | 40% - 60% | 0% - 20% | Any Purpose | Women, Men, Have business | Credit Educ, Credit Ins | |||||||
Ukulima Loan | KES 5,000 - 200,000 | 6 - 12 | 40% - 60% | 20% - 40% | Agriculture | Women, Men, Have business | Credit Educ, Credit Ins | |||||||
Afya Loan | KES 8,666 - 21,420 | 3 - 12 | 40% - 60% | 20% - 40% | Other | Women, Men, Have business | Credit Educ, Credit Ins | |||||||
Maji Safi Loan | KES 5,000 - 100,000 | 9 - 24 | 40% - 60% | 20% - 40% | Other | Women, Men, Have business | Credit Educ, Credit Ins | |||||||
Boma Safi Loan | KES 5,000 - 200,000 | 6 - 24 | 40% - 60% | 20% - 40% | Other | Women, Men, Have business | Credit Educ, Credit Ins |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Elimu Bora Loan | 18.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 33.1% - 36.1% | 36.9% - 40.2% | 47 | ||||||||
Jinue Loan | 22.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0%-25.0% upfront 200.00 ongoing | 42.8% - 45.3% | 108% - 170.1% | 16 | ||||||||
Jiwezeshe Loan | 18.0%-20.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0%-25.0% upfront 200.00 ongoing | 33.6% - 41.6% | 61.6% - 91.2% | 23 | ||||||||
Tatua Shida Loan | 22.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 45.4% | 53% | 42 | ||||||||
Ukulima Loan | 20.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 39.5% - 42% | 43.6% - 49.6% | 44 | ||||||||
Afya Loan | 19.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 34% - 37.8% | 37.7% - 42% | 46 | ||||||||
Maji Safi Loan | 20.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 39.5% - 42% | 43.6% - 49.6% | 44 | ||||||||
Boma Safi Loan | 20.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 36.8% - 42% | 39.1% - 49.6% | 45 |
Outstanding portfolio (ETB) | ETB 1,094,220 |
Portfolio (USD) | USD 59,468.48 |
Active Clients with Loans | 2,891 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services |
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) |
Currency | ETB |
Minimum loan size | ETB 1,300 |
Maximum loan size | 6,500 |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 10.0 months |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Lowest quoted nominal interest | 1.50% |
Highest quoted nominal interest | 1.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Service Charge |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
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? | |
Do borrowers control deposit in their group? |
% loan amount deposited | 8.00% - N/A |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 10.00% - N/A |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 5.00% |
Maximum interest rate paid | 5.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | ETB 1,900 | ETB 2,000 | ETB 3,500 | ETB 4,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2011-06-15 | 2011-06-23 | 2011-06-15 | 2011-06-15 | |||
Loan Term (Months) | 10.0 months | 10.0 months | 12.0 months | 10.0 months | |||
Grace Period (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 | |||
True Price by Comp | |||||||
Interest and Fee Component | 38.8% | 38.8% | 37.9% | 38.8% | |||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 9.0% | 7.2% | 7.5% | 9.0% | |||
Full APR (int fee ins tax dep) | 47.8% | 46.0% | 45.4% | 47.8% | |||
Transparency Index | 38 | 39 | 40 | 38 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
Key Statistics | |
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# 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 |
Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
---|---|---|---|---|---|---|---|