Effectiveness of lending policies in microfinance institutions in Kenya
A Case Study of Kenya Women Finance Trust
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Microfinance loans, savings, and other basic financial services are important to the poor. Microfinance differs in key concepts from conventional banking in that it employs different collateral substitutes to deliver and recover loans. Such collateral substitutes are anchored on lending policies and dynamic incentives which allow the loan size to increase over time upon satisfactory repayment, mandatory savings, and regular repayment schedules. Joint liability constraints the group borrowing ability as individuals; interest fees, penalties and commissions on these loans further affect the cust...
Microfinance loans, savings, and other basic financial services are important to the poor. Microfinance differs in key concepts from conventional banking in that it employs different collateral substitutes to deliver and recover loans. Such collateral substitutes are anchored on lending policies and dynamic incentives which allow the loan size to increase over time upon satisfactory repayment, mandatory savings, and regular repayment schedules. Joint liability constraints the group borrowing ability as individuals; interest fees, penalties and commissions on these loans further affect the customer; this calls for prudent credit management from microfinance institutions to minimize the default. This study sought to establish the effect of lending policies on financial performance of microfinance institutions in Kisii County, Kenya with a specific interest on KWFT. The research objectives were: to determine the influence of group liability policy on the financial performance of microfinance institutions in Kisii county; to establish the effect of monitoring policies on the financial performance of microfinance institutions in Kisii county.
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