Please note that the information you are viewing is
142 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2013-06-20
Data version: 2
Age of data: 142 months
Key Statistics
| Outstanding portfolio (KES) | KES 29,500,723 |
| Portfolio (USD) | USD 356,288.93 |
| Active Clients with Loans | 2,912 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 60% - 80% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Loan designed for groups of 5-25 individuals in a group, for both ongoing and start up businesses.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | Home-based care training |
| Other (2) | HIV/AIDS counseling |
| No other services | |
Eligibility
| 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) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 3 |
| # Regions for this product | 3 |
| Regions Active | Nyanza, Rift Valley, Western |
Loan Conditions
Loan Amount
| Currency | KES |
| Minimum loan size | KES 3,000 |
| Maximum loan size | 78,000 |
Distribution at Disbursement (Est.)
| Loans less than KES 50,000 | 70% |
| KES 50,000-150,000 | 30% |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 18.0 months |
| Approx average | 9.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 40% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 100% |
| Average grace period | 0.3 months |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 18.00% |
| Highest quoted nominal interest | 36.00% |
| Reason(s) why interest rate varies | Nominal interest rate varies based on the loan term. Shorter term loans attract higher annual rates. |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Loan Application Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 1,000 |
| Fixed amount - max | 1,000 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
| Ins 1 |
|---|
| Description | Insurance Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 400 |
| Fixed amount - max | 0 |
| Reason for variation | First cycle loan pay 400 and multiple cycle loans pay 3% |
| Appears on Repayment Sched? | No |
Compulsory Deposit
| Required for | Some |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 20.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 200 |
| Conditions on access to deposit | Access During |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Compulsory deposit: Upfront deposit of 20% required on multiple cycle loans only. Continuing deposit of 200 KES required on all loans.
Full Pricing Data
Business Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | KES 7,500 | | KES 30,000 | | KES 55,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-07-15 | | 2013-07-15 | | 2013-07-15 |
| Loan Term (Months) | 5.8 months | | 9.0 months | | 11.0 months |
| Grace Period (Months) | 0.2 months | | 0.2 months | | 0.2 months |
| Total Cost of Credit | KES 2,744 | | KES 7,299.64 | | KES 12,538.24 |
| True Price by Comp | | | | | |
| Interest price component | 65.7% | | 45.3% | | 34.7% |
| Fee Component | 59.3% | | 9.6% | | 4.0% |
| Insurance Component | 18.8% | | 7.1% | | 5.4% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 89.1% | | 95.5% | | 65.9% |
| Full APR (int fee ins tax dep) | 232.9% | | 157.5% | | 110.0% |
| Transparency Index | 8 | | 11 | | 16 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Business Loan Price Graphs
