Update as of July 30, 2024:


Kiva recently re-assessed the level of risk associated with loans from this Lending Partner. During this process, our analysts gathered updated operational and financial information about the institution, spoke with key members of the staff, and analyzed the Lending Partner’s loan products. As a result, ECLOF's risk rating is now listed as 1 star instead of 2.5 stars. The primary reason for this change in rating is an increase in borrower-level delinquency, which is causing liquidity stress on ECLOF.


We still believe in the impact of ECLOF as an institution and recognize the positive changes they are implementing to address these challenges. However, it is important to accurately represent the current risks associated with their loans.


About ECLOF 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.


Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva May 29, 2014 Oct 12, 2005
Total Loans $9,601,745 $2,054,794,725
Amount of raised Inactive loans $0 $288,800
Number of raised Inactive loans 0 262
Amount of Paying Back Loans $1,296,755 $156,738,315
Number of Paying Back Loans 3,264 186,715
Amount of Ended Loans $8,304,990 $1,854,250,610
Number of Ended Loans 20,355 2,501,378
Delinquency Rate 20.55% 12.48%
Amount in Arrears $148,465 $12,001,197
Outstanding Portfolio $639,162 $96,141,089
Number of Loans Delinquent 2,143 63,629
Default Rate 0.24% 1.83%
Amount of Ended Loans Defaulted $19,857 $34,003,127
Number of Ended Loans Defaulted 87 91,181
Currency Exchange Loss Rate 1.05% 0.47%
Amount of Currency Exchange Loss $166,444 $12,742,203
Refund Rate 0.05% 0.55%
Amount of Refunded Loans $4,450 $11,261,520
Number of Refunded Loans 6 9,866

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 67.76% 78.49%
Average Loan Size $407 $393
Average Individual Loan Size $407 $585
Average Group Loan Size $0 $1,912
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $1,800 $5,591
Average Loan Size / GDP per capita (PPP) 22.59% 7.03%
Average Time to Fund a Loan 15.25 days 9.13 days
Average Dollars Raised Per Day Per Loan $26.66 $43.05
  Average Loan Term 11.32 months 11.5 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 1,303 1,224,449
  Journaling Rate 5.68% 41.92%
  Average Number of Comments Per Journal 0.00 0.02
  Average Number of Recommendations Per Journal 0.00 0.55

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 26.61% PY
  Profitability (return on assets) -5.21% 0.5% -1.37%
  Average Loan Size (% of per capita income) N/A 56.00% 0.00%

Country Fast Facts

Lending Partner Staff

Hemal Desal - Virmati
Evanson Kemboi
Deborah Kwamboka
David Munge
Zachary Muriithi
Josphat Mutuku
Virginia Ngunjiri
Viral Patel
Tony Riunga