Anjoy Group Loan

MSME in business have had to contend with the following challenges:

• They have limited access to credit.
• They lack stringent securities required by banks e.g. title deeds.
• They lack business management skills.
• They lack access to information on technologies, international linkages, trade fairs and export practices.

To address the challenges facing the MSME, Anjoy Credit Ltd. adopted the group methodology to finance these customers who form a majority.

• Group methodology enables Anjoy Credit Ltd. target the low income but economically active population of the society
• Group methodology enables Anjoy Credit Ltd. reach the deepest rural areas geographically
• Use of group methodology reaches the more illiterate members of the society
• Use of group methodology enables to reach a large scale of customers efficiently and faster through the group methodology officer.
• Use of group reduces risk as it binds the self-selected group members collectively.
• Use of groups provides a perfect platform through which other Business Development Services (BDS) such as training, advisory, mentorship and linkages can be provided by Anjoy Credit Ltd.

Under this category, we also offer clients the following categories of loans depending on their ability and need:

a. Anjoy product loans: – Under this category, we finance clients for essential products which improve the quality of their lives and improve climatic adaptability. The products currently being financed include:

• Water tanks – These help clients mainly in the rural Kenya harvest clean water for their use hence reducing effects of drought and waterborne diseases.
• Gas cylinders – This helps them access clean energy and reduces over reliance on firewood and charcoal which cause environmental degradation.
• Solar appliances: – These include solar lamps, solar powered TV and fridges. These help them be in the market longer hours at night and improve quality of lives of the rural consumers.

b. School fees loans: These are given on need basis with cheques written to the schools. The repayments are staggered to make them affordable.