| Outstanding portfolio (KES) | KES 13,325,138.18 |
| Portfolio (USD) | USD 160,931.62 |
| Active Clients with Loans | 165 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 60% - 80% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| 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 | x |
| Workplace visits | |
| Business training | |
| Other training | x |
| 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) |
| # Regions for this institution | 4 |
| # Regions for this product | 4 |
| Regions Active | Nairobi, Nyanza, Rift Valley, Western |
| Currency | KES |
| Minimum loan size | KES 5,000 |
| Maximum loan size | 2,000,000 |
| Loans less than KES 50,000 | 5% |
| KES 50,000-150,000 | 60% |
| KES 150,000-250,000 | 10% |
| KES 250,000-350,000 | 5% |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 36.0 months |
| Approx average | DK |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 5% |
| Between 10 and 12 months | 70% |
| Between 13 and 18 months | 20% |
| Longer than 18 months | 0 |
| Grace period usage | 10% |
| Average grace period | DK |
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 22.00% |
| Highest quoted nominal interest | 22.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Loan Application Fee | Chattels Fee | |
| % of loan amount - min | 0 | 0 | |
| % of loan amount - max | 2.00% | 0 | |
| OR, Fixed amount - min | 500 | 0 | |
| Fixed amount - max | 0 | 1,300 | |
| Reason for variation | 2% with KES 500 minimum | Charged only on loans over KES 100,000 | |
| Appears on Repayment Sched? | Yes | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 1.60% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | <12 month =1.6%, 13-24 months=1.75%, 25+ months=3%. Either upfront or continuing. |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 15.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 1.00% |
| Maximum interest rate paid | 1.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 15,473 | KES 28,700 | KES 50,000 | KES 100,000 | KES 279,500 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2013-05-23 | 2013-05-01 | 2013-05-20 | 2013-05-22 | 2013-03-20 | ||||
| Loan Term (Months) | 9.0 months | 6.0 months | 12.0 months | 12.0 months | 12.0 months | ||||
| Grace Period (Months) | 0.5 months | 0.2 months | 0.0 months | 0.5 months | 0.7 months | ||||
| Total Cost of Credit | KES 3,103.08 | KES 4,164.25 | KES 12,769.86 | KES 25,479.45 | KES 72,683.53 | ||||
| True Price by Comp | |||||||||
| Interest price component | 38.6% | 39.1% | 40.4% | 38.6% | 37.9% | ||||
| Fee Component | 5.3% | 7.8% | 4.3% | 4.1% | 5.0% | ||||
| Insurance Component | 4.3% | 6.4% | 3.5% | 3.3% | 3.3% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 16.1% | 18.6% | 16.7% | 15.2% | 14.8% | ||||
| Full APR (int fee ins tax dep) | 64.3% | 71.9% | 64.9% | 61.2% | 61.0% | ||||
| Transparency Index | 34 | 31 | 34 | 36 | 36 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.oromiamicrofinance.com/ |
| Year established | 1997 |
| Head of Institution | Teshome Kebede |
| Regions active | |
| # Branches | 242 |
| Total Portfolio (nat'l) | ETB 1,280,000,000 |
| Total Portfolio (USD) | USD 69,565,217.39 |
| Active clients with loans | 503,000 |
| Approximate % female clients | 20% - 40% |
| Approximate % urban clients | 0% - 20% |
| Network affiliations | AEMFI |
| Funders | Care International, Catholic Relief Services, A Glimmer of Hope, CIDR |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agriculture Loan | ETB 1,900 - 5,000 | 12 | 20% - 40% | 0% - 20% | Business, Agriculture | Women, Men | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training | |||||||
| Micro & Small Enterprise Loan | ETB 10,000 - 120,000 | 12 - 60 | 20% - 40% | 80% - 100% | Any Purpose | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training | |||||||
| Urban Petty Trading Loan | ETB 2,000 - 5,000 | 4 - 12 | 80% - 100% | 80% - 100% | Business | Women, Men | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agriculture Loan | 10.0%-15.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0% upfront | 13.4% - 19.3% | 15.7% - 22.6% | 54 | ||||||||
| Micro & Small Enterprise Loan | 10.0% annual, Flat | 1 Fee | 0 Ins | None | 20.00 ongoing | 21.8% | 21.8% | 46 | ||||||||
| Urban Petty Trading Loan | 10.0%-15.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0% upfront | 23.8% - 31.2% | 30.4% - 39.3% | 31 |
| Key Statistics | |
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| % 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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