Institution Type | Non-Governmental Organization |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 2001 |
Head of Institution | Irene Kamau |
Regions active | 0 |
# Branches | 1 |
Total Portfolio (nat'l) | KES 6,000,000 |
Total Portfolio (USD) | USD 72,463.77 |
Active clients with loans | 234 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 80% - 100% |
Network affiliations | |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Individual Loan | KES 5,000 - 85,000 | 3 - 12 | 60% - 80% | 80% - 100% | Business | Women, Men, Have business, Intention to start a business and need only a small amount | Credit Educ, Business Training, Other Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Individual Loan | 24.0%-30.0% annual, Flat | 1 Fee | 0 | None | N/A | #N/A | #N/A | N/A |
Outstanding portfolio (RWF) | RWF 5,202,031,666 |
Portfolio (USD) | USD 8,128,174.48 |
Active Clients with Loans | 7,933 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
Individual | |
Solidarity group | |
Village banking | x |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
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 | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 22 |
# Regions for this product | N/A |
Regions Active |
Currency | RWF |
Minimum loan size | RWF 250,000 |
Maximum loan size | 3,000,000 |
Loans less than RWF 500,000 | 20% |
RWF 500,000-1,500,000 | 30% |
RWF 1,500,000-2,500,000 | 30% |
RWF 2,500,000-3,500,000 | 20% |
RWF 3,500,000-4,500,000 | 0 |
Greater than RWF 4,500,000 | 0 |
Shortest loan term | 4.0 months |
Longest loan term | 12.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 50% |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 30% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 0.3 months |
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 |
Lowest quoted nominal interest | 2.50% |
Highest quoted nominal interest | 2.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Loan Processing Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Excluding VAT |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Credit Life Insurance Premium |
% of loan amount - min | 0.80% |
% of loan amount - max | 0.80% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Excluding VAT |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 10.00% |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 5.00% |
Maximum interest rate paid | 5.00% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | Yes |
Percentage of fees | 18% |
All or some fees taxed | All |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | RWF 250,000 | RWF 500,000 | RWF 980,000 | RWF 2,000,000 | RWF 3,000,000 | ||||
Loan Cycle (1, 2, 3, etc) | 1 | 6 | 5 | 6 | 6 | ||||
Disbursement Date | 2012-09-20 | 2012-09-20 | 2012-09-17 | 2012-09-13 | 2012-09-13 | ||||
Loan Term (Months) | 6.0 months | 6.0 months | 8.0 months | 8.0 months | 12.0 months | ||||
Grace Period (Months) | 0.9 months | 0.9 months | 0.9 months | 0.9 months | 0.9 months | ||||
Total Cost of Credit | RWF 42,653 | RWF 85,295 | RWF 212,286.20 | RWF 433,219 | RWF 960,513 | ||||
True Price by Comp | |||||||||
Interest price component | 49.2% | 49.2% | 50.1% | 50.1% | 50.7% | ||||
Fee Component | 3.6% | 3.6% | 2.9% | 2.9% | 2.0% | ||||
Insurance Component | 2.9% | 2.9% | 2.3% | 2.3% | 1.7% | ||||
Tax Component | 1.2% | 1.2% | 1.0% | 1.0% | 0.6% | ||||
Deposit Component | 16.0% | 16.0% | 16.0% | 16.0% | 15.6% | ||||
Full APR (int fee ins tax dep) | 72.9% | 72.9% | 72.3% | 72.3% | 70.6% | ||||
Transparency Index | 41 | 41 | 41 | 41 | 43 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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