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 $98,750 $780,017,200
Amount of raised Inactive loans $0 $210,250
Number of raised Inactive loans 0 142
Amount of Paying Back Loans $57,975 $134,582,300
Number of Paying Back Loans 63 159,198
Amount of Ended Loans $40,775 $645,224,650
Number of Ended Loans 69 798,613
Delinquency Rate 4.62% 8.67%
Amount in Arrears $2,075 $7,777,227
Outstanding Portfolio $44,919 $89,687,850
Number of Loans Delinquent 17 30,050
Default Rate 0.00% 1.27%
Amount of Ended Loans Defaulted $0 $8,190,794
Amount of Ended Loans $40,775 $645,224,650
Number of Ended Loans Defaulted 0 22,001
Currency Exchange Loss Rate 0.77% 0.37%
Amount of Currency Exchange Loss $764 $2,861,801
Refund Rate 4.51% 0.66%
Amount of Refunded Loans $4,450 $5,158,575
Number of Refunded Loans 6 5,582

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 54.19% 74.54%
Average Loan Size $748 $413
Average Individual Loan Size $748 $648
Average Group Loan Size $0 $1,839
Average number of borrowers per group 0 7.9
Average GDP per capita (PPP) in local country $1,800 $5,944
Average Loan Size / GDP per capita (PPP) 41.55% 6.95%
Average Time to Fund a Loan 9.45 days 6.73 days
Average Dollars Raised Per Day Per Loan $79.13 $61.37
  Average Loan Term 14.58 months 10.91 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 382,318
  Journaling Rate 0.00% 40.72%
  Average Number of Comments Per Journal 0.00 0.06
  Average Number of Recommendations Per Journal 0.00 1.45

Borrowing Cost Comparison (based on 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 52% APR 36.00% PY 29.09% PY
  Profitability (return on assets) 2% 0.5% -1.41%
  Average Loan Size (% of per capita income) N/A 56.00% 19.25%

Country Fast Facts

Field Partner Staff

Joyce Kamau
Elijah Kariuku
Hannah Kibuchi
Alan Mathers
Mary Munyiri
Zachary Muriithi
Wallace Murungi
Rachel Muthoni
Roy Ngure
Geofrey Ogoti
Geoffrey Okochi