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Institution
Data approved: 2013-05-31
Data version: 2
Age of data: 134 months
Key Statistics
| Outstanding portfolio (KES) | KES 15,968,913.11 |
| Portfolio (USD) | USD 192,861.27 |
| Active Clients with Loans | 219 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 60% - 80% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Given to groups between 5 to 10 members. Customers are required to have a lease agreement, bank account statement and utility bills. Customers must have been in business for longer than 12 months.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | x |
| Other | Fire/Burglary Insurance |
| 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 have run a business for at least 24 months |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 4 |
| # Regions for this product | 4 |
| Regions Active | Nairobi, Nyanza, Rift Valley, Western |
Loan Conditions
Loan Amount
| Currency | KES |
| Minimum loan size | KES 50,000 |
| Maximum loan size | 500,000 |
Distribution at Disbursement (Est.)
| Loans less than KES 50,000 | 15% |
| KES 50,000-150,000 | 50% |
| KES 150,000-250,000 | 20% |
| KES 250,000-350,000 | 10% |
| KES 350,000-450,000 | 5% |
| Greater than KES 450,000 | 5% |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 36.0 months |
| Approx average | DK |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 15% |
| Between 7 and 9 months | 5% |
| Between 10 and 12 months | 70% |
| Between 13 and 18 months | 10% |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 10% |
| Average grace period | DK |
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 | 22.00% |
| Highest quoted nominal interest | 22.00% |
| Reason(s) why interest rate varies | Branch, Time as Client |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
|---|
| Description | Loan Application Fee | | Chattels Fee |
| % of loan amount - min | 0 | | 0 |
| % of loan amount - max | 2.00% | | 0 |
| OR, Fixed amount - min | 1,000 | | 1,300 |
| Fixed amount - max | 0 | | 1,300 |
| Reason for variation | 2% with KES 1000 minimum | | Charged on all loans |
| Appears on Repayment Sched? | Yes | | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance Fee |
| % of loan amount - min | 1.60% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | <12 month =1.6%, 13-24 months=1.75%, 25+ months=3%. Either upfront or continuing. |
| Appears on Repayment Sched? | Yes |
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? | No |
| Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 25.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 200 |
| Conditions on access to deposit | Access During |
Interest Paid on Deposit
| Minimum interest rate paid | 1.00% |
| Maximum interest rate paid | 1.00% |
| Interest payment frequency | Annually |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Interest rate revised to 20% flat as of 17-June-2013.
Full Pricing Data
Nguzo Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
|---|
| Loan Amount | KES 50,000 | | KES 100,000 | | KES 185,000 | | KES 295,000 | | KES 400,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-05-27 | | 2013-05-15 | | 2013-05-29 | | 2013-05-03 | | 2013-04-30 |
| Loan Term (Months) | 12.0 months | | 12.0 months | | 18.0 months | | 24.0 months | | 24.0 months |
| Grace Period (Months) | 0.2 months | | 0.7 months | | 0.7 months | | 0.5 months | | 0.5 months |
| Total Cost of Credit | KES 14,069.86 | | KES 28,759.73 | | KES 70,198 | | KES 141,364.38 | | KES 191,217.81 |
| True Price by Comp | | | | | | | | | |
| Interest price component | 39.5% | | 41.0% | | 38.4% | | 37.3% | | 37.3% |
| Fee Component | 9.8% | | 6.7% | | 3.8% | | 2.7% | | 2.6% |
| Insurance Component | 3.5% | | 3.3% | | 1.8% | | 1.8% | | 1.8% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 59.7% | | 41.6% | | 32.0% | | 26.4% | | 25.8% |
| Full APR (int fee ins tax dep) | 112.5% | | 92.6% | | 76.0% | | 68.2% | | 67.5% |
| Transparency Index | 20 | | 24 | | 29 | | 32 | | 33 |
| | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
