| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.kadet.co.ke/ |
| Year established | 2001 |
| Head of Institution | Fidel Okillah |
| Regions active | Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western |
| # Branches | 39 |
| Total Portfolio (nat'l) | KES 447,325,485 |
| Total Portfolio (USD) | USD 5,402,481.70 |
| Active clients with loans | 12,923 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 40% - 60% |
| Network affiliations | |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agriculture Loan | KES 5,000 - 1,000,000 | 3 - 24 | 40% - 60% | 60% - 80% | Agriculture | Women, Men | Credit Ins, Tech Asst Visits | |||||||
| Business Loan | KES 3,000 - 3,000,000 | 3 - 24 | 40% - 60% | 40% - 60% | Any Purpose | Women, Men, Have business | Credit Ins | |||||||
| School Fees Loan | KES 5,000 - 150,000 | 3 - 12 | 60% - 80% | 40% - 60% | Education | Women, Men | Credit Ins | |||||||
| Asset Loan | KES 5,000 - 1,600,000 | 3 - 12 | 20% - 40% | 60% - 80% | Business, Consumer, Other | Women, Men | Credit Ins |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agriculture Loan | 18.0%-22.0% annual, Flat | 1 Fee | 1 Ins | None | 20.0%-30.0% upfront 400.00 ongoing | 25% - 26.1% | 35.3% - 40.9% | 47 | ||||||||
| Business Loan | 18.0%-22.0% annual, Flat | 1 Fee | 1 Ins | None | 20.0%-30.0% upfront 400.00 ongoing | 35.7% - 47.6% | 60.8% - 91.1% | 25 | ||||||||
| School Fees Loan | 18.0%-22.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 43.3% - 46.7% | 45.8% - 51.1% | 37 | ||||||||
| Asset Loan | 18.0%-19.5% annual, Flat | 1 Fee | 1 Ins | None | 20.0%-30.0% upfront 400.00 ongoing | 43.4% - 50.1% | 70.6% - 104.4% | 21 |
| Outstanding portfolio (GHS) | GHS 717,865 |
| Portfolio (USD) | USD 478,577 |
| Active Clients with Loans | 1,413 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 40% - 60% |
| 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 | x |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| 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 | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | GHS |
| Minimum loan size | GHS 500 |
| Maximum loan size | 5,000 |
| Shortest loan term | 4.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | N/A |
| Between 4 and 6 months | N/A |
| Between 7 and 9 months | N/A |
| Between 10 and 12 months | N/A |
| Between 13 and 18 months | N/A |
| Longer than 18 months | N/A |
| Grace period usage | 100% |
| Average grace period | 0.8 months |
| 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 |
| Lowest quoted nominal interest | 48.00% |
| Highest quoted nominal interest | 48.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | N/A |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Commitment fee | Loan form and pass book fee | |
| % of loan amount - min | 5.00% | 0 | |
| % of loan amount - max | 5.00% | 0 | |
| OR, Fixed amount - min | 0 | 6.50 | |
| Fixed amount - max | 0 | 6.50 | |
| Reason for variation | |||
| Appears on Repayment Sched? | No | No |
| Required for | Some |
| Criteria | All groups in Weija and some in Kasoa and Swedru do not pay compulsory savings. They are groups who have been with the bank for a long time and were assisted by Freedom from Hunger\r |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 10.00% - N/A |
| or, Fixed-amount deposited | 0 - N/A |
| % loan amount deposited | 0 - N/A |
| or, Fixed-amount deposited | 0 - N/A |
| 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 |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 800 | GHS 1,500 | GHS 3,500 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-02-13 | 2013-02-13 | 2013-02-13 | ||
| Loan Term (Months) | 5.6 months | 5.6 months | 5.6 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | Not Known | Not Known | Not Known | ||
| True Price by Comp | |||||
| Interest and Fee Component | 106.1% | 100.9% | 97.9% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 19.5% | 18.7% | 18.2% | ||
| Full APR (int fee ins tax dep) | 125.6% | 119.6% | 116.0% | ||
| Transparency Index | 38 | 40 | 41 | ||
| 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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