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 $5,887,575 $1,609,571,270
Amount of raised Inactive loans $0 $789,775
Number of raised Inactive loans 0 772
Amount of Paying Back Loans $1,142,050 $165,849,000
Number of Paying Back Loans 2,658 203,252
Amount of Ended Loans $4,745,525 $1,442,932,495
Number of Ended Loans 11,446 1,907,594
Delinquency Rate 14.27% 17.11%
Amount in Arrears $88,644 $17,820,358
Outstanding Portfolio $539,845 $104,179,775
Number of Loans Delinquent 916 75,481
Default Rate 0.42% 1.71%
Amount of Ended Loans Defaulted $19,857 $24,720,663
Number of Ended Loans Defaulted 87 61,845
Currency Exchange Loss Rate 0.42% 0.40%
Amount of Currency Exchange Loss $31,902 $7,011,687
Refund Rate 0.08% 0.59%
Amount of Refunded Loans $4,450 $9,486,250
Number of Refunded Loans 6 8,847

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 66.06% 77.44%
Average Loan Size $418 $392
Average Individual Loan Size $418 $600
Average Group Loan Size $0 $1,805
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $1,800 $5,672
Average Loan Size / GDP per capita (PPP) 23.20% 6.91%
Average Time to Fund a Loan 16.4 days 8.07 days
Average Dollars Raised Per Day Per Loan $25.46 $48.58
  Average Loan Term 11.55 months 11.36 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 711 980,839
  Journaling Rate 5.42% 42.27%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.67

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 26.41% PY
  Profitability (return on assets) 2.69% 0.5% -0.57%
  Average Loan Size (% of per capita income) N/A 56.00% 11.35%

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