Kenya Ecumenical Loan Fund (ECLOF) - Elimu Bora Loan - MFTransparency.org Truth In Lending Tables

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Institution

Kenya Ecumenical Loan Fund (ECLOF) NairobiKenyaPO Box 34889

Data approved: 2010-09-13

Data version: 1

Age of data: - months

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Product

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Product Details

Key Statistics

Outstanding portfolio (KES)	KES 1,757,544
Portfolio (USD)	USD 21,226.38
Active Clients with Loans	211
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Your financial solution to the educational needs of self and family

Loan Purpose

Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education	x
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings
Credit insurance	x
Workplace visits
Business training
Other training
Other
Other (2)
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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	KES
Minimum loan size	KES 1,000
Maximum loan size	30,000

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	12.0 months
Approx average	9.0 months

Grace Period

Grace period usage	30%
Average grace period	0.5 months

Repayment Frequency

Daily
Weekly	x
Every 2 weeks
Every 4 weeks
Monthly	x
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	2.00%
Highest quoted nominal interest	2.00%
Interest rate period	Monthly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	N/A
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	Loan Processing Fee	Risk Management Fee
% of loan amount - min	2.00%	1.50%
% of loan amount - max	2.00%	1.50%
OR, Fixed amount - min	0	0
Fixed amount - max	0	0
Reason for variation		N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/A
Is deposit indicated on the repayment schedule?	N/A
Do borrowers control deposit in their group?	N/A

Deposit BEFORE or AT Disbursement

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Elimu Bora Loan samples

No data for this product

Elimu Bora Loan Price Graphs