| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | No |
| Website address | http://www.rafode.org/ |
| Year established | 2005 |
| Head of Institution | Antony Mayodi |
| Regions active | Nyanza, Rift Valley, Western |
| # Branches | 2 |
| Total Portfolio (nat'l) | KES 31,000,000 |
| Total Portfolio (USD) | USD 374,396.14 |
| Active clients with loans | 3,120 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | KES 3,000 - 78,000 | 6 - 18 | 60% - 80% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training, Home-based care training, HIV/AIDS counseling |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | 18.0%-36.0% annual, Flat | 1 Fee | 1 Ins | None | 20.0% upfront 200.00 ongoing | 38.7% - 125% | 110% - 232.9% | 11 |
| Outstanding portfolio (ETB) | ETB 241,056,154 |
| Portfolio (USD) | USD 13,100,877.93 |
| Active Clients with Loans | 8,562 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | |
| 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 | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | x |
| 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 | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | ETB |
| Minimum loan size | ETB 5,001 |
| Maximum loan size | 10,000,000 |
| Shortest loan term | 12.0 months |
| Longest loan term | 60.0 months |
| Approx average | 24.0 months |
| Grace period usage | 100% |
| Average grace period | 4.0 months |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | x |
| Every 12 months | x |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 10.00% |
| Highest quoted nominal interest | 13.00% |
| Reason(s) why interest rate varies | Due to loan term- 12 month is 10% plus 3% commission, and above 12 months is 13% but with no commission |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Commission Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Loans 12months or less charged 3%. No fee for loans over 12 months |
| Appears on Repayment Sched? | No |
| 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? | No |
| Sample 1 | Sample 2 | ||
|---|---|---|---|
| Loan Amount | ETB 8,000 | ETB 15,000 | |
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | |
| Disbursement Date | 2009-10-24 | 2011-08-25 | |
| Loan Term (Months) | 36.0 months | 12.0 months | |
| Grace Period (Months) | 0.0 months | 0.0 months | |
| Total Cost of Credit | Not Known | Not Known | |
| True Price by Comp | |||
| Interest and Fee Component | 13.0% | 10.0% | |
| Insurance Component | 0.0% | 0.0% | |
| Tax Component | 0.0% | 0.0% | |
| Deposit Component | 0.0% | 0.0% | |
| Full APR (int fee ins tax dep) | 13.0% | 10.0% | |
| Transparency Index | 77 | 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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