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 (RWF) | RWF 381,860,017 |
Portfolio (USD) | USD 596,656.28 |
Active Clients with Loans | 4,440 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
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 | x |
Business training | x |
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) |
# Regions for this institution | 16 |
# Regions for this product | 20 |
Regions Active | Bugesera, Burera, Gakenke, Gasabo, Gatsibo, Gicumbi, HuyeKayonza, Kicukiro, Kirehe, Musanze, Ngoma, Ngororero, Nyabihu, Nyamagabe, Nyarugenge, Nyaruguru, Rubavu, Rulindo, Rwamagana |
Currency | RWF |
Minimum loan size | RWF 150,000 |
Maximum loan size | 250,000 |
Loans less than RWF 500,000 | 100% |
RWF 500,000-1,500,000 | 0 |
RWF 1,500,000-2,500,000 | 0 |
RWF 2,500,000-3,500,000 | 0 |
RWF 3,500,000-4,500,000 | 0 |
Greater than RWF 4,500,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 8.0 months |
Loans 3 months or less | 30% |
Between 4 and 6 months | 40% |
Between 7 and 9 months | 30% |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
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 | x |
Irregular payments |
Lowest quoted nominal interest | 2.50% |
Highest quoted nominal interest | 2.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Commission Fee |
% 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 |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 1.50% |
% of loan amount - max | 1.50% |
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? | No |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 20.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | RWF 200,000 | RWF 250,000 | RWF 250,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2010-11-26 | 2010-12-15 | 2010-12-15 | ||
Loan Term (Months) | 6.0 months | 8.0 months | 8.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | Not Known | Not Known | Not Known | ||
True Price by Comp | |||||
Interest and Fee Component | 62.1% | 60.0% | 60.0% | ||
Insurance Component | 5.9% | 4.7% | 4.7% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 32.4% | 31.1% | 31.1% | ||
Full APR (int fee ins tax dep) | 100.5% | 95.8% | 95.8% | ||
Transparency Index | 30 | 31 | 31 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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