FAULU KENYA

By SokoDirectory Team / March 3, 2013




Faulu Kenya is a Deposit Taking Micro-Finance Company, registered in Kenya under the Micro-Finance Act which is regulated by the Central Bank of Kenya. Faulu was founded as a programme of Food for the Hungry International (FHI), a Christian relief and development organisation based in Phoenix Arizona in USA and has grown to become an MFI that offers both savings and credit services to millions of Kenyans.

FHI recognised that there were unique needs of low-income people in rural and urban areas and that sustainable economic development for the marginalised poor is a priority issue in the developing world. To address these issues, FHI established Faulu Africa Network, a regional micro finance network operating in Kenya, Uganda and Tanzania.

FHI began with a pilot phase of micro enterprise lending in the Mathare slums east of Nairobi in 1992. As the methodologies and systems were defined, it formally became the Faulu Loan Scheme in 1992. Thereafter, in 1993, a commitment was made to expand the programme and major funding availed. Finally in October 1994, Faulu Kenya officially came into being and was registered as a limited liability company in 1999.

Valuable support was received in the formative years from USAID, DFID and the European Union. Faulu Kenya is currently a sustainable and profitable micro finance institution.

Faulu Kenya has grown tremendously over the last 16 years, with over 90 outlets throughout Kenya. These outlets are currently serving over 250,000 clients. There are now more than 1500 members of staff in the outlets and at the Business Support Center (Head Office).
PRODUCTS.

CREDIT PRODUCTS:
Mkopo Biashara
This is a business loan available to people involved in business. It has three levels designed to help you from small beginnings to a bigger operation. You are given a grace period before starting repayment.

Mkopo Biashara – Daraja 1
Terms
‘ Waiting period for first loan eligibility for group members ‘ 4 weeks.
‘ One should have attended Loan Orientation Seminar if it is a first loan.
‘ Saving of the required loan security fund to secure the loan required.
‘ Group members and Faulu officers business appraisal.
‘ Group members’ guarantee for the customer’s loan for group based loans.
Benefits
‘ Easy access requirements.
‘ Flexible repayment period.
‘ Quick processing.
‘ Convenient and affordable.
‘ Access to refinancing.
‘ Weekly reports on loan status.
Mkopo Biashara – Daraja 2

Terms
‘ Waiting period for first loan eligibility for group members ‘ 4 weeks.
‘ One should have attended Loan orientation seminar.
‘ Saving of the required loan security fund to secure the loan required.
‘ Group members and Faulu officers business appraisal.
‘ Group members’ guarantee for the customer’s loan for group based loans.

Benefits
‘ Easy access requirements.
‘ Flexible repayment period.
‘ Quick processing.
‘ Convenient and affordable.
‘ Access to refinancing.
‘ Weekly reports on loan status.
Mkopo Biashara – Daraja 3

Terms
‘ One must have serviced a Daraja 2 loan successfully to qualify.
‘ Group members and Faulu officers business appraisal.
‘ Group members’ guarantee for the customer’s loan for group based loans.
Benefits
‘ Easy access requirements.
‘ Flexible repayment period.
‘ Quick processing.
‘ Convenient and affordable.
‘ Access to refinancing.
‘ Weekly reports on loan status.

Mkopo Hisa

Purpose
‘ Faulu Kenya has seen the need among it’s clientele to diversify their investments in channels that also diversify their risks. Hence, Faulu has identified one such area that clients can easily access, The Nairobi Stock Exchange. This loan product allows Faulu Kenya clients to buy shares of listed companies as a way of investing their monies for both short and long-term returns.
‘ This product’s objective is to encourage savings for capital accumulation and getting for clients an alternative income stream.
Terms
‘ Waiting period for first loan eligibility for group members ‘ 4 weeks.
‘ One should have attended Loan orientation seminar if it is a first loan.
‘ Saving of the required loan security fund to secure the loan required.
‘ Group members and Faulu officers’ business appraisal.
‘ Group members’ guarantee for the customer’s loan for group based loans.

Benefits
‘ An avenue for one to acquire savings for capital accumulation and an alternative income stream.
‘ Convenient weekly installments.
‘ Interest waiver reward for early repayments.
‘ Convenient and easy access requirements.

Mkopo Elimu

Purpose
‘ An educational loan product that allows one to meet their children’s school fees or their own if they want to pursue further education or training and also purchase books, uniforms etc.
‘ This facility is available to both Faulu and non-Faulu clients.
‘ Faulu clients can access the loan even if they have another loan that they are servicing as long as they fulfill the required terms.

Terms
‘ Waiting period for first loan eligibility for group members ‘ 4 weeks.
‘ One should have attended Loan orientation seminar if it is a first loan.
‘ Saving of the required loan security fund to secure the loan required.
‘ Group members and Faulu officers business appraisal.
‘ Group members’ guarantee for the customer’s loan for group based loans.

Benefits
‘ Meets a variety of educational financial needs over and above fees such as books, uniforms etc.
‘ Convenient and flexible disbursement with cheques written directly to institutions.
‘ Interest waiver reward for early payments.

Mkopo Kilimo

Purpose
‘ A loan product that involves Faulu financing on-farm activities for farmers at their level.
‘ The farmers will be able to apply for loans, then repay with the proceeds from their produce at harvest.

Terms
‘ Waiting period for first loan eligibility for group members ‘ 4 weeks.
‘ One should have attended Loan orientation seminar if it is a first loan.
‘ Saving of the required loan security fund to secure the loan required.
‘ Group members and Faulu officer’s business appraisal.
‘ Group members’ guarantee for the customer’s loans for group based loans.

Benefits
‘ Convenient- you get it when you need it and repayment is based on your harvest cash flows.
‘ Timely and reliable- season-based disbursements for early preparation and purchase of inputs.
‘ Flexibility on repayment terms – has an optional grace period for ease of payments on the clients.
‘ Interest waiver incentive on early repayments. Customer reward- Customers enjoy interest reduction on subsequent loans.
‘ It has a refinancing option through a top-up facility for one to take advantage of emerging opportunities.

Maisha Bora

Purpose
‘ Loan product that facilitates the acquisition of new assets by clients from suppliers country-wide.
‘ Asset Acquisition: Specifically for the economically active poor who would like to build their asset base for the purpose of getting access to larger loans using the assets acquired. They would take this loan given that they can get the asset as they make payments through the year.
‘ Replacement of old assets: This mainly is by those who already have the assets but would like to replace the old with new.
‘ Replacement of lost/ destroyed property: Especially for the IDPs.
‘ Business Expansion: e.g. for landlords who would want to build more rental houses given that the materials are also available under this product.

Terms
‘ Waiting period for first loan eligibility for group members ‘ 4 weeks.
‘ One should have attended Loan orientation seminar if it is a first loan.
‘ Saving of the required loan security fund to secure the loan required.
‘ Group members and Faulu officers’ business appraisal.
‘ Group members guarantee for the customer’s loan for group based loans.

Benefits
‘ Easy accessibility to assets.
‘ Flexible and convenient weekly installments.
‘ No hidden charges.
‘ Own choice of supplier for assets.

Imara Loan

Purpose
Loan product used for various purposes by the civil servants, TSC members and employees such as:-.
‘ Asset Acquisition.
‘ School fees.
‘ Business working capital.
‘ Emergency needs.

Terms
‘ One must be a TSC member or a civil servant on permanent basis.
‘ 2 colour passport pictures, original and copy of national ID and employment ID.
‘ 3 latest pay slips.
‘ Minimum of two guarantors in cases where the loan amount is more than Kshs.100,000.

Benefits
‘ No collaterals required.
‘ Flexible repayment period.
‘ Quick processing.
‘ Convenient and affordable.
‘ Top up facility.

SAVINGS PRODUCTS
Hazina Account:Hazina is an ideal savings account that offers you a great opportunity to save in small amounts for a rainy day. It also enables you meet your day to day financial obligations such as food expenses, rent, medical bills, emergencies and any other bills in a stress free manner.
It is affordable and convenient to operate.

Benefits
‘ Easy account opening
‘ Affordable and flexible
‘ 24 hours easy access to your money through multiple service outlets across the country i.e Faulu Branches, ATMs, Mobile phones and appointed agents
‘ Secure place to save (Licensed by Central Bank of Kenya)
‘ Premium interest rates on your savings
Features
‘ Account opening balance of Ksh. 200
‘ Minimum operating balance of Ksh. 200
‘ Competitive interest rates of up to 4% p.a on balances above Ksh 3,000
‘ Unlimited withdrawals
‘ Free Daraja card
‘ 2 free statements annually
‘ No monthly ledger fees
‘ No account maintenance fees

Hazina Plus
We understand that saving for your goals requires hard work and discipline. Hazina Plus gives you a pure savings solution to enable you accumulate your savings and achieve your life’s aspirations.

Benefits
‘ Easy account opening requirements
‘ Affordable
‘ Secure place to save (Licensed by Central Bank of Kenya)
‘ Premium interest rates on your savings

Features
‘ Account opening balance of Ksh. 200/-
‘ Minimum operating balance of Ksh. 200/-
‘ Competitive interest rates of up to 6% p.a on all balances
‘ 2 free statements annually on request
‘ Free Daraja card
‘ One free withdrawal per quarter. Extra withdrawals will attract a fee
‘ No monthly ledger fees
‘ No account maintenance fees

Lengo Account
Lengo enables you to work towards achieving your short and long term goals. All you have to do is determine your financial target and duration of time over which you will save to achieve your goal.Benefits
‘ Easy to open and maintain
‘ Competitive interest rates of up to 6% p.a on all balances above Ksh 3,000
‘ Free transfer from your Hazina account
‘ Automatic access to a loan facility
‘ Security for your money
‘ Check off facility for the salaried
‘ Guaranteed returns
‘ Free bankers cheque on maturity
Features
‘ Account opening balance of Ksh. 300
‘ Minimum operating balance of Ksh. 300
‘ Minimum savings plan of 3 months and up to a maximum of 10 years
‘ Minimum monthly deposit of Ksh. 100

Head Office

PO BOX 60240-00200
Nairobi
Kenya

Email : [email protected]This e-mail address is being protected from spambots. You need JavaScript enabled to view it

3877290-3/7; 3872183/4;
3867504, 3874857

Business Support Centre
Ngong Lane, Off Ngong Road
P O Box 60240
00200 City Square
Nairobi
Tel: 3877290 ‘3 /7; 3872183/4; 3867503
Fax: 3867504, 3874857

NAIROBI AREA EAST NAIROBI
BURUBURU
BURUBURU ARCADE
TEL. 020 787972

RONGAI -FORMER NATIONAL BANK BUILDING
TEL. 020 3871894

LIMURU – KIMUCHU HOUSE
TEL: 020 3871894

KIBERA -FORT JESUS
TEL. 020 3871894

JOGOO ROAD- NACICO PLAZA
TEL. 020 2230357

CENTRAL NAIROBI -BITHA PLAZA
TEL. 6752774

NGONG-OROK PLAZA
TEL. 020 3871894

GIKOMBA – KIAWAMBUGU BUILDING
TEL: 020 2230357

KISERIAN – BETSY COURT
TEL: 020 3871894

KAWANGWARE -FORMER CDF BUILDING
TEL. 020 3871894

GITHURAI TEL: 6752774

WEST NAIROBI – BERMUDA PLAZA
TEL: 020 3871894

CENTRAL AREA

KARATINA – RHINO HOUSE
TEL. 061 72398

NYERI – KONAHAUTHI HOUSE
TEL. 061 2030181

KIAMBU – RUMATHI HOUSE
TEL. 020 2369826

MURANGA – NGEKA HOUSE
TEL. 060 31320

NANYUKI – JIWA HOUSE
TEL. 020 2369824

THIKA – ABOVE HFCK BANK
TEL. 067 21983

KERUGOYA – WANJAO HOUSE
TEL. 068 30809

GITHUNGURI – KARU HOUSE
TEL. 020 2369826

EASTERN REGION

MACHAKOS – BONDENI HOUSE
TEL: 044 20071

TALA – TALA HOUSE
TEL: 020 787972

KITENGELA – MILELE COMPLEX
TEL. 044 20071

KITUI – CENTRAL TRADE CENTRE HOUSE
TEL. 044 20071

MERU – MWALIMU PLAZA
TEL. 064 31353

NKUBU – AMCOK BUILDING
TEL. 064 31353

MAUA – MAUA METHODIST SYNOD BUILDING
TEL. 064 31353

CHUKA – IRUMA BUILDING
TEL. 064 31353

ISIOLO – SAADA BUILDING
TEL. 064 31353

EMBU – SPARKO BUILDING
TEL 068 30809

MWEA TEL. 068 30809

MATUU – BIDII HOUSE
TEL. 067 21983

MWINGI -OSAVINYA BUILDING
TEL. 067 21983

EMALI – MBILO BUILDING
TEL: 044 20071

WOTE -DOUBLE KEY BUILDING
TEL: 044 20071

WESTERN & NORTH RIFT BUNGOMA
BUNGOMA TEACHER’S PLAZA
TEL. 020 2369827

WEBUYE – HILLSIDE BUILDING
TEL. 020 2369827

MUMIAS – KHOLERA HOUSE
TEL. 020 2369827

KAKAMEGA – WALIA CENTRE
TEL. 020 2369827

KITALE BRANCH – VICTOR HOUSE
TEL. 054 30044

MOI’S BRIDGE – SAMOEI HOUSE
TEL: 054 30044

KAPENGURIA -SIMKO PLAZA
TEL. 054 30044

ELDORET EAST & WEST ELDORET – JAPARA BUILDING
TEL. 053 2060482

KAPSABET – KENCOM HOUSE
053 2060482
BOMET – KIPSIGIS TEACHERS SACCO
TEL. 052 22431

KERICHO – ISAN ARCADE
TEL. 052 20862

LITEIN -TEGUTO PLAZA
TEL. 052 20862

CHEPSEON-CDF BUILDING
TEL. 052 20862

KISUMU -JUBILEE INSURANCE HOUSE
TEL. 020 2111225

BONDO TEL: 020 2111225

BUSIA TEL. 020 2369827

OL KALOU TEL.06532014

CENTRAL AND SOUTH RIFT

NAKURU – GATE HOUSE
TEL. 051 2216053

NJORO – STAGE VIEW BUILDING
TEL: 051 721571

ELDAMA RAVIN – REJAJA HOUSE
TEL. 051 2216053

NAIVASHA – JOSTAS BUILDING
TEL. 020 2054461

NJABINI TEL. 020 2054461

NAROK – MAA TOWERS
TEL. 020 3516867

MOLO – DUBAI PLAZA 2000
TEL. 051 721571

OLENGURUONE -BIDII BUILDING
TEL. 051 72157

NYAHURURU – KIMWA CENTRE
TEL. 065 32014

MARALAL – ARK HOUS
TEL: 065 32014

KINAMBA TEL. 065 32014

RUMURUTI TEL.06532014

KABARNET TEL. 051 2216053

COAST REGION

MALINDI – LAMU ROAD COMPLEX BUILDING
TEL. 042 20403

MPEKETONI – JENIPHAT BUILDING
042-20403

KONGOWEA
TEL. 041 2492986

CHANGAMWE – GIDDI MART BUILDING
TEL: 041 2492986

UKUNDA – SAIDI MINI PLAZA
TEL. 041 2492986

VOI OFFICE – POTTERS HOUSE COMPLEX
TEL: 041 2492986

MOMBASA BRANCH-MPC BUILDING
TEL: 041 2492986





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