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 $4,617,875 $1,458,955,925
Amount of raised Inactive loans $0 $499,525
Number of raised Inactive loans 0 175
Amount of Paying Back Loans $1,051,125 $148,868,425
Number of Paying Back Loans 2,443 172,561
Amount of Ended Loans $3,566,750 $1,309,587,975
Number of Ended Loans 8,496 1,717,039
Delinquency Rate 21.36% 22.11%
Amount in Arrears $111,487 $20,924,979
Outstanding Portfolio $488,996 $94,639,686
Number of Loans Delinquent 988 70,833
Default Rate 0.56% 1.72%
Amount of Ended Loans Defaulted $19,857 $22,570,998
Number of Ended Loans Defaulted 87 54,508
Currency Exchange Loss Rate 0.32% 0.40%
Amount of Currency Exchange Loss $16,695 $5,960,897
Refund Rate 0.10% 0.63%
Amount of Refunded Loans $4,450 $9,164,975
Number of Refunded Loans 6 8,498

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 65.30% 76.77%
Average Loan Size $422 $395
Average Individual Loan Size $422 $609
Average Group Loan Size $0 $1,775
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $1,800 $5,728
Average Loan Size / GDP per capita (PPP) 23.46% 6.89%
Average Time to Fund a Loan 15.7 days 7.52 days
Average Dollars Raised Per Day Per Loan $26.91 $52.49
  Average Loan Term 11.61 months 11.37 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 590 916,190
  Journaling Rate 5.70% 43.72%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.70

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 24.84% PY
  Profitability (return on assets) 1.01% 0.5% -0.97%
  Average Loan Size (% of per capita income) N/A 56.00% 12.34%

Country Fast Facts

Field Partner Staff

Hemal Desal - Virmati
Julius Irungu
Elijah Kariuki
Evanson Kemboi
Esther Moyi
Mary Munyiri
Josphat Mutuku
Joan Mwawaza
Joaquim Nyaoke
Tony Riunga
Ragesh Shah - Virmati
Betty Simiyu