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 $4,257,200 $1,411,965,700
Amount of raised Inactive loans $2,200 $3,148,600
Number of raised Inactive loans 2 623
Amount of Paying Back Loans $1,023,700 $150,192,800
Number of Paying Back Loans 2,308 195,744
Amount of Ended Loans $3,231,300 $1,258,624,300
Number of Ended Loans 7,668 1,627,010
Delinquency Rate 15.60% 26.10%
Amount in Arrears $92,574 $24,507,566
Outstanding Portfolio $493,779 $93,911,247
Number of Loans Delinquent 1,352 131,420
Default Rate 0.61% 1.76%
Amount of Ended Loans Defaulted $19,857 $22,187,519
Number of Ended Loans Defaulted 87 53,814
Currency Exchange Loss Rate 0.09% 0.39%
Amount of Currency Exchange Loss $5,887 $5,484,508
Refund Rate 0.10% 0.63%
Amount of Refunded Loans $4,450 $8,892,600
Number of Refunded Loans 6 8,400

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 65.43% 76.46%
Average Loan Size $427 $394
Average Individual Loan Size $427 $611
Average Group Loan Size $0 $1,762
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $1,800 $5,743
Average Loan Size / GDP per capita (PPP) 23.71% 6.86%
Average Time to Fund a Loan 14.96 days 7.19 days
Average Dollars Raised Per Day Per Loan $28.53 $54.80
  Average Loan Term 11.64 months 11.38 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 590 869,325
  Journaling Rate 6.53% 43.35%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.74

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 25.90% PY
  Profitability (return on assets) 3.17% 0.5% -2.02%
  Average Loan Size (% of per capita income) N/A 56.00% 12.51%

Country Fast Facts

Field Partner Staff

Stanley Gwandaru
Elijah Kariuki
Esther Moyi
Mary Munyiri
Josphat Mutuku
Joan Mwawaza
Joaquim Nyaoke
Tony Riunga
Betty Simiyu