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 | N/A |
Year established | 2000 |
Head of Institution | Amsalu Alemayehu Gutema |
Regions active | |
# Branches | 24 |
Total Portfolio (nat'l) | ETB 113,970,892 |
Total Portfolio (USD) | USD 6,194,070.22 |
Active clients with loans | 53,981 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 0% - 20% |
Network affiliations | AEMFI, MAIN, PAMIGA |
Funders | Terrafina, Cordaid, Ethio Italian Rural Development Cooperation, World Solidarity Movement |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Employee Loan | ETB 1,000 - 10,000 | 4 - 24 | 0% - 20% | 80% - 100% | Housing, Consumer, Education | Women, Men, Salaried worker | Credit Educ | |||||||
Enterprise Loan | ETB 2,000 - 10,000 | 4 - 12 | 20% - 40% | 80% - 100% | Business | Women, Men, Have business, Must be urban or semi-urban, not for rural clients. | Credit Educ, Business Training | |||||||
Individual Loan | ETB 5,000 - 150,000 | 4 - 24 | 40% - 60% | 80% - 100% | Business | Women, Men, Have business | Credit Educ, Tech Asst Visits, Business Training | |||||||
Large Group Loan | ETB 100 - 5,000 | 4 - 12 | 40% - 60% | 0% - 20% | Any Purpose | Women, Men | Credit Educ, Other Training, Agricultural Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Employee Loan | 15.0% annual, Flat | 0 Fees | 1 Ins | None | 10.0%-15.0% upfront | 26.6% | 31.9% - 33.6% | 45 | ||||||||
Enterprise Loan | 18.0% annual, Flat | 0 Fees | 1 Ins | None | 10.0% upfront | 32.1% - 33.8% | 40.2% - 43.9% | 43 | ||||||||
Individual Loan | 11.0%-15.0% annual, Flat | 0 Fees | 0 Ins | None | N/A | 21.6% - 26.5% | 21.6% - 26.5% | 46 | ||||||||
Large Group Loan | 18.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0%-15.0% upfront | 23.6% - 23.8% | 27.4% - 27.7% | 65 |
Key Statistics | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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