KEEF OKOA LOAN

KEEF OKOA loan is targeted to clients with interest in small to middle agribusiness, green entrepreneurial projects and other innovative and profitable businesses
Product ID 381
Product Status Active
Provider Name KEEF
Administrator Name KEEF
Country Kenya
Currency KES

Specifications Minimum Maximum
Loan Amount (EUR) 100 1000
Investor Interest (%) 14.00 16.00
Grace Period (month) 0 1
Payback Period (month) 6 24
Bidding Period (day) 5 35

Fee schedule Closing Fees (%) Interest Fees (%)
MyC4 2.00% 6.00%
Provider 0.00% 0.00%
Administrator 3.00% 13.00%

Insurance Information:
Through CIC Assurance Limited loans are covered against: 1. Death. 2. Permanent Disability. 3. Critical illness

Risk Management Information:
Required interaction with the client prior loan decision:
1. The client must be a member of a group affiliated and registered with KEEF. 2. The client must have maintained an active and consistent monthly savings account with the group. 3. A client must have applied, qualified and repaid back on time a first loan or advance. 4. A client must get consent of loan application from group members and raise sufficient guarantors

Assessment of client’s affordability of the loan:
1. Loan request is always a factor of individuals savings held in the group. 2. Previous history of loan repayments. 3. The performance of the client business Vis a Vis the intended usage of the loan. 4. Client business and other revenues streams. 5. Market value of the asset pledged as collateral of the loan. 6. Client outstanding liability/ with other financial institutions.

Assessment of client’s stability:
1. The client active borrowing period with KEEF. 2. Client expertise/skills/knowhow in area they intend to invest. 3. Client status of residence (rental/permanent). 4. Loan application from clients with existing business/ventures as opposed to start ups. 5. Past history of Social economic indicators of a particular region, sector and political stability of a region. 6. Diversification of client revenue streams.

Assessment of client’s reliability/character:
1. Clients past credit history 2. The ease in which a client can raise guarantors and approval from members within the group. 3. Client past saving history with the group. 4. The correctness of information provided prior to loan appraisal. 5. Client attendance pattern. 6. The intended purpose of applied loan.

Securities taken for this loan (collateral, co-signers, etc)*
1. Savings. 2. Business assets. 3. House holds assets. 4. Number of guarantors in relation to loan size. 5. Group guarantee. 6. Chattels

Other incentives for timely repayment of loan:
1. Bonus/interest rebate at year end 2. Good credit rating. 3. Easier access of short term loans i.e. advances 4. To graduate to higher loan category.


* Disclaimer: Investors shall have no recourse to the security held in respect of any loan to Borrowers, nor have any recourse against MYC4, Loan Administrators or Providers for any default by Borrowers in their payment and repayment obligations.