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Institution
Data approved: 2013-09-23
Data version: 2
Age of data: 134 months
Key Statistics
| Outstanding portfolio (KES) | KES 1,035,934,565 |
| Portfolio (USD) | USD 12,511,287.02 |
| Active Clients with Loans | 29,548 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | x |
| Self help group | |
| Other | |
Description
Empowering the youth to Drive Kenya. Working capital loans for youth in micro income generating activities. They are group or individual based with flexible collateral mix and requirements.
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 | x |
| Business training | x |
| Other training | x |
| 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 | x |
| Other | Must have undergone group training |
| Other (2) | Mustbe 18-35 years old |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 8 |
| # Regions for this product | 8 |
| Regions Active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
Loan Conditions
Loan Amount
| Currency | KES |
| Minimum loan size | KES 1,000 |
| Maximum loan size | 100,000 |
Distribution at Disbursement (Est.)
| Loans less than KES 50,000 | 60% |
| KES 50,000-150,000 | 40% |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 1.0 month |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 50% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
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 | 8.00% |
| Highest quoted nominal interest | 8.00% |
| 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 |
|---|
| Description | LACE (Loan Application & Credit Evaluation Fee) |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 3% for 1st cycle, 2% for multiple cycle loans |
| Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Annual Insurance Fee |
| % of loan amount - min | 0.63% |
| % of loan amount - max | 0.63% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 0.625% per annum. |
| Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | All |
| Criteria | Savings interest depends on the balance that is in the account |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 15.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | When Leaving |
Interest Paid on Deposit
| Minimum interest rate paid | 1.00% |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | Monthly |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
This loan product is offered in collaboration with the government.
Full Pricing Data
Vijana Business Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | KES 7,999.96 | | KES 24,999.98 | | KES 99,999.96 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-05-27 | | 2013-05-11 | | 2013-05-09 |
| Loan Term (Months) | 5.9 months | | 6.0 months | | 12.0 months |
| Grace Period (Months) | -0.2 months | | 0.0 months | | 0.2 months |
| Total Cost of Credit | KES 357.94 | | KES 1,156.21 | | KES 8,624.92 |
| True Price by Comp | | | | | |
| Interest price component | 13.8% | | 13.4% | | 13.9% |
| Fee Component | 0.0% | | 0.0% | | 0.0% |
| Insurance Component | 2.3% | | 2.2% | | 1.1% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 5.7% | | 5.2% | | 5.3% |
| Full APR (int fee ins tax dep) | 21.8% | | 20.8% | | 20.3% |
| Transparency Index | 37 | | 38 | | 39 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Vijana Business Loan Price Graphs
