“8 ps” |
Feature |
Benefit |
Brand Name |
Faster-faster special loan Product |
- Emergency in nature/ Easy to remember
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Target Market |
- All our unfunded clients or already funded but they have some emergencies to attend.
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Objective |
- Loan product whose purpose is to finance some emergency cases or businesses that require some small amounts for emergency Financing.
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Product design |
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Access requirements |
Loan shall be accessible to:
- All Fadhili and/or none Fadhili members clients.
- Aged between 18-65 years.
- Borrower with a good repayment record
- Borrowers with Proof of Regular business income or remittance.
- Borrower willing to provide guarantee of repayment and also be guaranteed by at least three Fadhili active members from existing groups.
- All clients who already have businesses or have some reliable sources of income.
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- Offering responsiveness loan product for both Fadhili and none Fadhili clients.
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Loan size |
- Loan guarantee deposit ratio: No loan guarantee deposit is required.
- Loan cycles;
- 1st cycle Kshs. 5, 000
- 2nd cycle Kshs.7,500
- 3rd cycle Kshs.10,000
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- Adequate loan amounts to meet all emergency needs.
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Loan Term |
- 1st cycle Kshs. 5, 000 Max repayment period 1month
- 2nd cycle Kshs.7,500 Max repayment period 1months
- 3rd cycle Kshs.10,000 max repayment period 1months
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- Enough repayment periods to repay the instalments.
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Repayment frequency |
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- Enables client to pay in small manageable instalments direct from ones regular Business income or any other sources.
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Security/Collateral |
- Three Fadhili active members in the existing active centers and either the centre leader or group leader to approve.
- Household’s items.
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Rebates |
- 0.5% rebate for good clients on the interest paid at the end of period.
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Grace Period |
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- Enables one make timely repayments.
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Price |
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Interest |
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Loan processing fee |
- 4.5% of the amount applied for.
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- Affordable and fair. No pressure to raise the processing fee as it is deducted direct from the amount to be disbursed.
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Loan insurance fee. |
- Included in the loan disbursement fee.
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- No pressure on self/family to repay in case of the covered risks (Death or permanent incapacitation).
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Passbook |
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- Keep track of one’s accounts’ status all the time
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Late Penalty |
- 0.5% per day on instalment in arrears
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- Enhances repayment discipline & guaranteed fast subsequent loans
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Promotion |
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Marketing information |
- Brochures and flyers
- Marketing through the existing canters and groups.
- Awareness campaigns during community/Family meetings, youth meetings
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- Well informed & knowledgeable customers
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Promotional materials |
- Pens& rulers, T-shirts, Caps, Key-holders, umbrella,
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Place |
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Location |
- Fadhili micro enterprises Head-office
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- Convenient because it is reachable by all.
- Less costs of transport and time
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Positioning |
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Slogan/Vision/tagline |
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Benefit statement |
- ‘Quicker investment high returns’.
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Unique selling proposition |
- To be developed from benefits reported by clients as they start enjoying the service.
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Product Image |
- To be developed from benefits reported by clients
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Corporate image |
- To be developed from benefits reported by clients
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Physical Evidence |
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Passbook (repayment schedules) |
- Provided on loan disbursement
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- Protects one from penalties and clarity of installments information.
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Copy of the loan agreement |
- Copy provided to client and proper signing done during disbursement.
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People |
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Customer service |
- Positive staff attitude in customer handling
- Very experienced and competent staffs.
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- Customer valued as he/she is the reason for our existence.
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Process |
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Loan processing time |
- Fadhili staffs are efficient
- Maximum 24 hours needed to process the loan
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- Faster, saves time and the situation at hand.
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Length of application forms |
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Clarity of application forms |
- Simple, clear and easy to understand
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