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 Lending Partner All Kiva Partners
  Start Date On Kiva May 29, 2014 Oct 12, 2005
Total Loans $8,721,090 $1,958,818,855
Amount of raised Inactive loans $0 $250,565
Number of raised Inactive loans 0 237
Amount of Paying Back Loans $1,370,185 $161,326,725
Number of Paying Back Loans 3,409 188,875
Amount of Ended Loans $7,350,905 $1,768,237,830
Number of Ended Loans 17,971 2,370,066
Delinquency Rate 28.93% 12.18%
Amount in Arrears $189,497 $12,199,756
Outstanding Portfolio $558,488 $100,189,739
Number of Loans Delinquent 2,308 72,764
Default Rate 0.27% 1.83%
Amount of Ended Loans Defaulted $19,857 $32,304,134
Number of Ended Loans Defaulted 87 84,789
Currency Exchange Loss Rate 1.58% 0.50%
Amount of Currency Exchange Loss $154,998 $11,980,628
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% 78.23%
Average Loan Size $408 $392
Average Individual Loan Size $408 $589
Average Group Loan Size $0 $1,891
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 $43.86
  Average Loan Term 11.32 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 1,122 1,178,627
  Journaling Rate 5.37% 42.26%
  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

Lending Partner Staff

Hemal Desal - Virmati
Elijah Kariuki
Evanson Kemboi
Deborah Kwamboka
Zachary Muriithi
Josphat Mutuku
Elijah Mwaniki
Joan Mwawaza
Viral Patel
Tony Riunga
Betty Simiyu