| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | No |
| Website address | http://opportunity.net/kenya/ |
| Year established | 2006 |
| Head of Institution | Lydia Njoroge |
| Regions active | Nairobi, Nyanza, Rift Valley, Western |
| # Branches | 11 |
| Total Portfolio (nat'l) | KES 402,920,910 |
| Total Portfolio (USD) | USD 4,866,194.57 |
| Active clients with loans | 9,122 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | Opportunity International, AMFI |
| Funders | Opportunity International USA, Wedco Enterprises Limited |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Msingi Loan | KES 10,000 - 500,000 | 6 - 36 | 40% - 60% | 60% - 80% | Business | Women, Men, Have business, Must have run a business for at least 12 months | Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance | |||||||
| Nguzo Loan | KES 50,000 - 500,000 | 6 - 36 | 40% - 60% | 60% - 80% | Business | Women, Men, Have business, Must have run a business for at least 24 months | Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance | |||||||
| Somesha (Education) Loan | KES 5,000 - 100,000 | 3 - 12 | 40% - 60% | 60% - 80% | Education | Women, Men, Must be attending an educational institution or have a dependent attending | Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance | |||||||
| Asset Loan | KES 5,000 - 2,000,000 | 6 - 36 | 20% - 40% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Other Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Msingi Loan | 22.0% annual, Flat | 2 Fees | 1 Ins | None | 20.0% upfront 100.00 ongoing | 41.8% - 59.8% | 64.2% - 135% | 26 | ||||||||
| Nguzo Loan | 22.0% annual, Flat | 2 Fees | 1 Ins | None | 25.0% upfront 200.00 ongoing | 39.9% - 49.3% | 67.5% - 112.5% | 27 | ||||||||
| Somesha (Education) Loan | 16.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0% upfront | 34% - 44% | 45.6% - 59.7% | 33 | ||||||||
| Asset Loan | 22.0% annual, Flat | 2 Fees | 1 Ins | None | 15.0% upfront | 42.7% - 46.9% | 61% - 71.9% | 34 |
| Outstanding portfolio (INR) | INR 1,813,024,841 |
| Portfolio (USD) | USD 34,208,015.87 |
| Active Clients with Loans | 145,779 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 0 |
| 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 | |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | x |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | |
| Household income <120,000 INR | |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 2 |
| Regions Active | Karnataka, Tamil Nadu |
| Currency | INR |
| Minimum loan size | INR 12,000 |
| Maximum loan size | 30,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 10% |
| INR 15,000-25,000 | 40% |
| INR 25,000-35,000 | 50% |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 19.0 months |
| Longest loan term | 26.0 months |
| Approx average | DK |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| 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 | 26.00% |
| Highest quoted nominal interest | 26.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance Fee (Borrower & Guarantor) |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 410 |
| Fixed amount - max | 1,109 |
| Reason for variation | Premium varies with loan size and loan tenure |
| Appears on Repayment Sched? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | INR 15,000 | INR 20,000 | INR 25,000 | INR 30,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2013-06-14 | 2013-06-20 | 2013-06-04 | 2013-06-04 | |||
| Loan Term (Months) | 19.0 months | 25.0 months | 24.0 months | 24.0 months | |||
| Grace Period (Months) | 0.4 months | 0.2 months | 0.0 months | 0.0 months | |||
| Total Cost of Credit | INR 3,874 | INR 6,877 | INR 8,577 | INR 10,278 | |||
| True Price by Comp | |||||||
| Interest price component | 24.7% | 25.3% | 25.6% | 25.6% | |||
| Fee Component | 1.3% | 1.1% | 1.1% | 1.1% | |||
| Insurance Component | 3.6% | 3.9% | 4.0% | 4.0% | |||
| Tax Component | 0.2% | 0.1% | 0.1% | 0.1% | |||
| Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Full APR (int fee ins tax dep) | 29.8% | 30.4% | 30.8% | 30.8% | |||
| MFIN MFI Earning (Annualised) | 26.0% | 26.4% | 26.7% | 26.7% | |||
| MFIN Cost to Borrower (Annualised) | 29.8% | 30.4% | 30.8% | 30.8% | |||
| Transparency Index | 87 | 85 | 84 | 84 | |||
| MFIN Transparency Index | 100 | 100 | 100 | 100 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Key Statistics | |
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| # 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 |
|---|---|---|---|---|---|---|---|
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