Jamii Bora offers several types of loans for micro-businesses, school fees, health and housing. By 30 November 2005, Jamii Bora Trust had given out more than 144,760 loans to its members and a total KES 1,197,543,780 out of which KES 824,278,875 had been fully repaid and KES 373,264,900 was the outstanding loan balance. Micro Business Loans are offered to all members that have saved some money with Jamii Bora for a minimum of six weeks. The loans can be between 100 and 60,000 KSh, but not more than twice the member's savings. 10,000 KSh is the maximum first loan. The borrower pays 0.5% flat interest rate per week. The loan must be repaid within 50 weeks.
The borrower decides the number of weeks she wants to keep the loan and many borrowers choose to repay the loan in 3-5 months, some will clear their loans in just a few weeks. A borrower is free to repay the remaining loan balance at any time earlier than settled in the contract. Interest is charged only until the day the loan is fully paid.
Daraja Business Loans
A successful Micro Business borrower with a well performing business may require a larger capital. She can graduate to the Jamii Bora Daraja Business Loans programme after at least three Micro Business Loans with perfect repayment rate.
Daraja Business Loans are between 60,000 KSh and 700,000 KSh. Interest is paid with 0.5% per week on a declining loan balance. A Daraja Loan must be repaid within two years. Other conditions are as per Micro Business Loans.
School Fees Loans
After one successful business loan, members can borrow for their children's School fees on the same conditions as Micro Business Loans. It is allowed to have a school fees loan at the same time as a business loan. The school fees loans help the parents to even out the payment of school fees over fifty weeks.
A successful Micro business borrower (perfect repayment of at least three business loans) can borrow for Housing. The Housing Loans are normally paid on a monthly basis over a period of maximum ten years. We provide technical assessment and advice including technical drawings as required.
Our Mission is to assist our members to get out of poverty and build a better life for their families.
Our experience is that any family, however poor, miserable, and hopeless, is capable of getting themselves out of poverty. We want to strengthen and utilise all the skills, determination and hard work of the people of Kenya to build a better nation through better families.
WE BELIEVE in the inner strength and beauty of every human being that every human being is the creation of God and has equal value in the importance of the family and cooperation between generations that it is possible to eradicate poverty that all our members can change their lives and get out of poverty once they realize that it is possible for them to get out of poverty have gained enough self confidence and work together and help each other.
Primary Country Where Active:
Location (Town, City, District or Region)
Postal Address (Main Contact)
Feenzi Road, off Enterprise Road in Industrial Area Nairobi Kenya