ECLOF Kenya
Approved to post Kiva loans from: Kenya
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.
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 Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | May 29, 2014 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $8,729,265 | $1,959,851,975 | |
| Amount of raised Inactive loans | $325 | $372,750 | |
| Number of raised Inactive loans | 1 | 341 | |
| Amount of Paying Back Loans | $1,276,245 | $157,781,285 | |
| Number of Paying Back Loans | 3,161 | 181,865 | |
| Amount of Ended Loans | $7,452,695 | $1,771,710,075 | |
| Number of Ended Loans | 18,237 | 2,378,176 | |
| Delinquency Rate | 28.05% | 11.74% | |
| Amount in Arrears | $158,243 | $11,302,177 | |
| Outstanding Portfolio | $558,376 | $96,293,849 | |
| Number of Loans Delinquent | 1,584 | 50,859 | |
| Default Rate | 0.27% | 1.83% | |
| Amount of Ended Loans Defaulted | $19,857 | $32,353,831 | |
| Number of Ended Loans Defaulted | 87 | 84,926 | |
| Currency Exchange Loss Rate | 1.44% | 0.49% | |
| Amount of Currency Exchange Loss | $154,998 | $12,017,791 | |
| Refund Rate | 0.05% | 0.54% | |
| Amount of Refunded Loans | $4,450 | $10,526,300 | |
| Number of Refunded Loans | 6 | 9,596 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 67.59% | 78.24% | |
|---|---|---|---|
| Average Loan Size | $408 | $392 | |
| Average Individual Loan Size | $408 | $589 | |
| Average Group Loan Size | $0 | $1,892 | |
| Average number of borrowers per group | 0 | 8.3 | |
| Average GDP per capita (PPP) in local country | $1,800 | $5,599 | |
| Average Loan Size / GDP per capita (PPP) | 22.67% | 7.00% | |
| Average Time to Fund a Loan | 15.6 days | 8.93 days | |
| Average Dollars Raised Per Day Per Loan | $26.15 | $43.85 | |
| Average Loan Term | 11.31 months | 11.47 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 1,122 | 1,178,858 | |
|---|---|---|---|
| Journaling Rate | 5.36% | 42.23% | |
| Average Number of Comments Per Journal | 0.00 | 0.02 | |
| Average Number of Recommendations Per Journal | 0.00 | 0.57 |
Borrowing Cost Comparison (based on 2016 data)
| This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
| Average Cost to Borrower | 40% PY | 36.00% PY | 27.02% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | -0.95% | 0.5% | -3.10% | |
| Average Loan Size (% of per capita income) | N/A | 56.00% | 0.00% |
Country Fast Facts
- Country:
- Kenya
- Capital:
- Nairobi
- Official Language:
- English (official), Kiswahili (official)
- Population:
- 45,010,056
- Avg Annual Income:
- $1,800
- Labor Force:
- agriculture: 75%, industry and services: 25%
- Population Below Poverty Line:
- 43.40%
- Literacy Rate:
- 87.40%
- Infant Mortality Rate (per 1000):
- 40.71 deaths
- Life Expectancy:
- 63.52 years
Lending Partner Staff
Hemal Desal - VirmatiElijah Kariuki
Evanson Kemboi
Deborah Kwamboka
Zachary Muriithi
Josphat Mutuku
Elijah Mwaniki
Joan Mwawaza
Viral Patel
Tony Riunga
Betty Simiyu