ECLOF Kenya is a microfinance institution providing financial and non-financial services to micro, small and medium entrepreneurs in Kenya.
 
As one of the National ECLOF Committees of ECLOF International, the organization provides a variety of services in all sectors of the economy. ECLOF Kenya has recently developed a new higher education loan product with Kiva’s support.  
 
A unique lending approach:
 
ECLOF Kenya provides services to the economically active micro, small, and medium entrepreneurs in all sectors of the Kenyan economy. The organization recently developed a new higher education loan product that targets final year students and working students at university and vocational training institutes. .
 
ECLOF Kenya provides education loans with an interest rate of 18% APR, which is lower than many of the available education loan products in Kenya. Each student receiving the loan will be low income, in good standing with the school and in his or her final year of education. The organization hopes that their loan product will encourage other organizations to also provide education loans, substantially increasing the number of students who are able to obtain access to higher education.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva May 29, 2014 Oct 12, 2005
Total Loans $1,046,750 $988,137,650
Amount of raised Inactive loans $0 $359,150
Number of raised Inactive loans 0 263
Amount of Paying Back Loans $648,375 $148,865,600
Number of Paying Back Loans 1,454 188,409
Amount of Ended Loans $398,375 $838,912,900
Number of Ended Loans 935 1,054,487
Delinquency Rate 4.23% 8.21%
Amount in Arrears $14,775 $7,956,087
Outstanding Portfolio $349,596 $96,959,776
Number of Loans Delinquent 139 19,737
Default Rate 0.00% 1.40%
Amount of Ended Loans Defaulted $0 $11,706,844
Number of Ended Loans Defaulted 0 33,665
Currency Exchange Loss Rate 0.10% 0.45%
Amount of Currency Exchange Loss $1,095 $4,452,988
Refund Rate 0.43% 0.61%
Amount of Refunded Loans $4,450 $5,979,100
Number of Refunded Loans 6 5,999

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 67.34% 75.46%
Average Loan Size $439 $398
Average Individual Loan Size $439 $628
Average Group Loan Size $0 $1,758
Average number of borrowers per group 0 7.7
Average GDP per capita (PPP) in local country $1,800 $5,873
Average Loan Size / GDP per capita (PPP) 24.38% 6.78%
Average Time to Fund a Loan 14.05 days 6.92 days
Average Dollars Raised Per Day Per Loan $31.24 $57.60
  Average Loan Term 11.87 months 11.13 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 144 515,223
  Journaling Rate 14.10% 41.30%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.15

Borrowing Cost Comparison (based on 2016 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 40% PY 36.00% PY 26.15% PY
  Profitability (return on assets) 2.5% 0.5% -1.23%
  Average Loan Size (% of per capita income) N/A 56.00% 16.60%

Country Fast Facts

Field Partner Staff

Stanley Gwandaru
Joyce Kamau
Elijah Kariuki
Mary Munyiri
Zachary Muriithi
Wallace Murungi
Joan Mwawaza