| Number borrowers | 1,070 |
| Loan Amount (range) | GHS 1,200 - 1,200 |
| Loan Term (range) | 6 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training |
| Annual Interest & Method | 40.00% annual, Flat |
| Fees | 1.00-6.00 upfront |
| Insurance | None |
| Tax | None |
| Comp Dep | 10.00% upfront |
| Range of pricing | |
| Interest Price Component | N/A |
| Fee Component | 64.7% (Int+Fee) |
| Insurance Component | 0 |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 76.8% |
| Transparency Index (min/max) | 26 - 115 |
| Transparency Index (average) | 52 |
| 1,985 |
| KES 50,000 - 3,000,000 |
| 3 - 24 |
| Credit Educ, Credit Ins, Tech Asst Visits, Business Training, Other Training |
| 22.0% annual, Flat |
| 3.00% upfront 100.00-1,000.00 upfront |
| 2.00% upfront |
| None |
| 25.3% - 51.1% |
| 0 - 10.2% |
| 0 - 9.6% |
| 0 |
| 44.3% - 64.0% |
| 25 - 163 |
| 44 |
| Outstanding portfolio (GHS) | GHS 428,960 |
| Portfolio (USD) | USD 217,746.19 |
| Active Clients with Loans | 1,070 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| 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 | |
| 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 | x |
| Must be specific age group | |
| Other | some have businesses, others are salary workers like teachers and nurses |
| Other (2) |
| Outstanding portfolio (KES) | KES 267,734,546 |
| Portfolio (USD) | USD 3,233,509.01 |
| Active Clients with Loans | 1,985 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 40% - 60% |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | x |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 5 |
| # Regions for this product | 5 |
| Regions Active | Central, Coast, Eastern, Nairobi, Rift Valley |
| Currency | GHS |
| Minimum loan size | GHS 1,200 |
| Maximum loan size | 1,200 |
| Shortest loan term | 6.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 months |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| 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 |
| Currency | KES |
| Minimum loan size | KES 50,000 |
| Maximum loan size | 3,000,000 |
| Loans less than KES 50,000 | 15% |
| KES 50,000-150,000 | 15% |
| KES 150,000-250,000 | 15% |
| KES 250,000-350,000 | 15% |
| KES 350,000-450,000 | 10% |
| Greater than KES 450,000 | 10% |
| Shortest loan term | 3.0 months |
| Longest loan term | 24.0 months |
| Approx average | 12.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 50% |
| Between 13 and 18 months | 15% |
| Longer than 18 months | 10% |
| Grace period usage | 100% |
| Average grace period | 0.5 months |
| 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 | 40.00% |
| Highest quoted nominal interest | 40.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Membership Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 1 |
| Fixed amount - max | 6 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 1.83% |
| Highest quoted nominal interest | 1.83% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Administration Fee | Disbursement Fee | |
| % of loan amount - min | 3.00% | 0 | |
| % of loan amount - max | 3.00% | 0 | |
| OR, Fixed amount - min | 0 | 100 | |
| Fixed amount - max | 0 | 1,000 | |
| Reason for variation | N/A | Varies based on the method of disbursement. | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | Some |
| Criteria | Upfront compulsory deposit required only on loans below 300,000 KES which also do not have sufficient collateral. No continuing deposit requirement. |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 0 - 10.00% |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | End Term |
| 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 | |
|---|---|
| Loan Amount | GHS 1,200 |
| Loan Cycle (1, 2, 3, etc) | Not Known |
| Disbursement Date | 2010-12-23 |
| Loan Term (Months) | 6.0 months |
| Grace Period (Months) | 0 |
| Total Cost of Credit | Not Known |
| True Price by Comp | |
| Interest and Fee Component | 64.7% |
| Insurance Component | 0 |
| Tax Component | 0 |
| Deposit Component | 12.1% |
| Full APR (int fee ins tax dep) | 76.8% |
| Transparency Index | 52 |
| Original Repayment Schedule | |
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 50,000 | KES 100,000 | KES 200,000 | KES 350,000 | KES 400,000 | KES 500,000 | |||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
| Disbursement Date | 2013-07-08 | 2013-08-27 | 2013-08-30 | 2013-08-30 | 2013-06-28 | 2013-07-22 | |||||
| Loan Term (Months) | 7.0 months | 13.0 months | 13.0 months | 13.0 months | 19.0 months | 13.0 months | |||||
| Grace Period (Months) | 0.4 months | 0.5 months | 0.4 months | 0.4 months | 0.5 months | 0.5 months | |||||
| Total Cost of Credit | KES 9,028.03 | KES 28,563.74 | KES 56,390.19 | KES 98,532.80 | KES 158,201.27 | KES 143,038.90 | |||||
| True Price by Comp | |||||||||||
| Interest price component | 37.3% | 37.4% | 37.4% | 37.4% | 37.4% | 37.4% | |||||
| Fee Component | 10.2% | 5.7% | 5.8% | 5.8% | 4.1% | 5.6% | |||||
| Insurance Component | 6.6% | 3.9% | 4.0% | 3.9% | 2.8% | 3.8% | |||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| Deposit Component | 9.9% | 8.8% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| Full APR (int fee ins tax dep) | 64.0% | 55.8% | 47.2% | 47.1% | 44.3% | 46.8% | |||||
| Transparency Index | 34 | 39 | 47 | 47 | 50 | 47 | |||||
| Original Repayment Schedule | |||||||||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
| # Products | |
| # Institutions | |
| # Countries | |
| # 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 |
|---|---|---|---|---|---|---|---|
