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 $729,325 $923,990,800
Amount of raised Inactive loans $0 $601,750
Number of raised Inactive loans 0 272
Amount of Paying Back Loans $632,975 $140,273,000
Number of Paying Back Loans 1,378 170,752
Amount of Ended Loans $96,350 $783,116,050
Number of Ended Loans 200 979,916
Delinquency Rate 3.59% 8.33%
Amount in Arrears $12,995 $7,571,207
Outstanding Portfolio $362,432 $90,869,386
Number of Loans Delinquent 129 20,235
Default Rate 0.00% 1.37%
Amount of Ended Loans Defaulted $0 $10,717,799
Number of Ended Loans Defaulted 0 30,602
Currency Exchange Loss Rate 0.14% 0.46%
Amount of Currency Exchange Loss $1,008 $4,210,314
Refund Rate 0.61% 0.63%
Amount of Refunded Loans $4,450 $5,840,725
Number of Refunded Loans 6 5,906

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 61.07% 75.10%
Average Loan Size $463 $403
Average Individual Loan Size $463 $635
Average Group Loan Size $0 $1,782
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $1,800 $5,908
Average Loan Size / GDP per capita (PPP) 25.74% 6.81%
Average Time to Fund a Loan 14.37 days 6.97 days
Average Dollars Raised Per Day Per Loan $32.24 $57.80
  Average Loan Term 11.95 months 11.1 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 63 480,267
  Journaling Rate 19.39% 41.62%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.21

Borrowing Cost Comparison (based on 2014 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 46% PY 36.00% PY 26.15% PY
  Profitability (return on assets) 1.6% 0.5% -0.05%
  Average Loan Size (% of per capita income) N/A 56.00% 17.77%

Country Fast Facts

Field Partner Staff

Stanley Gwandaru
Joyce Kamau
Elijah Kariuki
Mary Munyiri
Zachary Muriithi
Wallace Murungi
Joan Mwawaza