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Institution
Data approved: 2010-09-14
Data version: 1
Age of data: - months
Key Statistics
| Outstanding portfolio (KES) | KES 2,600,000 |
| Portfolio (USD) | USD 31,400.97 |
| Active Clients with Loans | 120 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | Iindividual customer must be part of a group. |
Description
Given to customers that are part of a group and have had at least 2 loans with Opportunity. Loan is co-guaranteed by the group. Can be given for the customer's children and/or immediate dependents.
Loan Purpose
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | x |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | Insurance Fire/Burglary |
| 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 | Must bring school records |
| Other (2) | |
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 5,000 |
| Maximum loan size | 50,000 |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| 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 | 16.00% |
| Highest quoted nominal interest | 16.00% |
| Reason(s) why interest rate varies | Branch |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | N/A |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Application Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 500 |
| Fixed amount - max | 500 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.20% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | Yes |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 15.00% - N/A |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 50 - N/A |
| Conditions on access to deposit | Access During |
Interest Paid on Deposit
| Minimum interest rate paid | 0.01% |
| Maximum interest rate paid | 0.01% |
| Interest payment frequency | Annually |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
The loan is paid directly to the school.
Full Pricing Data
Somesha (Education) Loan samples
No sample data for this product
Somesha (Education) Loan Price Graphs
No sample data for this product
