2. LKL
Please note that the information you are viewing is 135 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. OMO
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

Letshego Kenya Limited P.O. Box 52926 00200Nairobi, Nairobi
Data approved: 2013-09-18
Data version: 2
Age of data: 135 months
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Institution

Omo Microfinance Head OfficeHawassaPO Box 353
Data approved: 2011-12-23
Data version: 1
Age of data: 159 months

Product

Payroll (MOU) Product 5 of 10 « Prev | Next »

Product

Rural Petty Trade Loan Product 2 of 4 « Prev | Next »

Product Summary

Number borrowers1,392
Loan Amount (range)KES 1 - 300,000
Loan Term (range)3 - 24
Other Services (text summary)Credit Educ, Credit Ins
Annual Interest & Method22.0% annual, Flat
Fees100.00-1,000.00 upfront 3.00% ongoing
Insurance2.00% ongoing
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component25.3% - 51.1%
Fee Component0 - 10.2%
Insurance Component0 - 9.6%
Tax Component Range0
Full APR (int fee ins tax dep)43.7% - 49.1%
Transparency Index (min/max)25 - 163
Transparency Index (average)48

Product Summary

4,000
ETB 2,000 - 50,000
12 - 36
Credit Educ, Group Mtgs, Credit Ins
15.0% annual, Flat
2.00% upfront
1.00% upfront
None
5.0%-10.0% upfront 6.00 ongoing
 
N/A
11.3% - 22.5% (Int+Fee)
1.0% - 2.1%
0
14.8% - 29.0%
50 - 102
65

Product Details

Key Statistics
Outstanding portfolio (KES)KES 75,652,537.91
Portfolio (USD)USD 913,677.99
Active Clients with Loans1,392
Approximate % Female Clients0% - 20%
Approximate % Urban Clients20% - 40%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This payroll product targets employees working with both private and public companies. The companies sign a Memorandum of Understanding (MOU) with LKL.
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution5
# Regions for this product5
Regions ActiveCentral, Coast, Eastern, Nairobi, Rift Valley

Product Details

Key Statistics
Outstanding portfolio (ETB)ETB 7,021,200
Portfolio (USD)USD 381,586.96
Active Clients with Loans4,000
Approximate % Female Clients20% - 40%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
Other
Description
This is a loan for petty trade in rural areas.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
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 institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 1
Maximum loan size300,000
Distribution at Disbursement (Est.)
Loans less than KES 50,00020%
KES 50,000-150,00030%
KES 150,000-250,00030%
KES 250,000-350,00020%
KES 350,000-450,0000
Greater than KES 450,0000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term24.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less5%
Between 4 and 6 months5%
Between 7 and 9 months5%
Between 10 and 12 months50%
Between 13 and 18 months15%
Longer than 18 months20%
Grace Period
Grace period usage100%
Average grace period0.7 months
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyETB
Minimum loan sizeETB 2,000
Maximum loan size50,000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term36.0 months
Approx average12.0 months
Grace Period
Grace period usage50%
Average grace period0.5 months
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest1.83%
Highest quoted nominal interest1.83%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionDisbursement Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min100
Fixed amount - max1,000
Reason for variationVaries based on method of loan disbursement.
Appears on Repayment Sched?No
Ongoing Fees
Fee 1
DescriptionAdmnistration Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
Ins 1
DescriptionInsurance Fee
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest15.00%
Highest quoted nominal interest15.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionCommission Fee
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionLoan Insurance
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited5.00% - 10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedETB 6
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
Compulsory savings is 1st cycle 10%, 2nd cycle 8%, 3rd cycle 5%. Savings interest is compounded semi-annually.

Full Pricing Data

Payroll (MOU) samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountKES 9,256.83KES 28,034.77KES 49,845.90KES 88,031.25KES 200,501.50KES 301,634.80
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-312013-08-262013-07-162013-06-212013-05-312013-07-31
Loan Term (Months)12.0 months19.0 months13.0 months19.0 months19.0 months19.0 months
Grace Period (Months)0.5 months0.7 months1.1 months0.8 months0.5 months0.6 months
Total Cost of CreditKES 2,664.26KES 11,928.16KES 15,945.37KES 37,892.99KES 83,583.57KES 125,656.21
True Price by Comp           
Interest price component39.1%39.0%38.9%39.0%39.1%39.1%
Fee Component6.9%3.3%4.3%2.9%3.0%2.9%
Insurance Component3.1%1.9%2.6%1.8%1.8%1.9%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)49.1%44.2%45.8%43.7%43.9%43.9%
Transparency Index455048505050
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF

Full Pricing Data

Rural Petty Trade Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountETB 2,000ETB 3,000ETB 5,000ETB 7,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2011-03-172011-06-272011-06-242011-03-18
Loan Term (Months)12.0 months24.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component21.4%11.3%21.2%22.5%
Insurance Component2.0%1.0%2.0%2.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component4.8%2.5%4.4%4.5%
Full APR (int fee ins tax dep)28.2%14.8%27.6%29.0%
Transparency Index531005452
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Payroll (MOU) Price Graphs


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Rural Petty Trade Loan 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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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