| Outstanding portfolio (BOB) | BOB 62,143,357.40 |
| Portfolio (USD) | USD 9,206,423.32 |
| Active Clients with Loans | 5,195 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 6 |
| # Regions for this product | 6 |
| Regions Active | Chuquisaca , Cochabamba , Oruro , Potosí, Santa Cruz, Tarija |
| Currency | BOB |
| Minimum loan size | BOB 1,000 |
| Maximum loan size | 106,000 |
| Loans less than BOB 10,000 | 40% |
| BOB 10,000-40,000 | 50% |
| BOB 40,000-70,000 | 10% |
| BOB 70,000-100,000 | 0 |
| BOB 100,000-125,000 | 0 |
| Greater than BOB 125,000 | 0 |
| Shortest loan term | 4.0 months |
| Longest loan term | 60.0 months |
| Approx average | 26.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 15% |
| Between 13 and 18 months | 5% |
| Longer than 18 months | 80% |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | x |
| Monthly | x |
| Every 2 months | x |
| Quarterly | x |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 18.00% |
| Highest quoted nominal interest | 34.00% |
| Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk, Collateral, Loan Purpose |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Ins 1 | |
|---|---|
| Description | El Cliente Seguro de Vida |
| % of loan amount - min | 0.16% |
| % of loan amount - max | 2.40% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | La comisión es 0.04% mensual cargado sólo al saldo del préstamo pendiente. |
| Appears on Repayment Sched? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | BOB 2,500 | BOB 7,000 | BOB 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-12-10 | 2013-12-05 | 2013-12-10 | ||
| Loan Term (Months) | 12.0 months | 18.0 months | 30.0 months | ||
| Grace Period (Months) | 0.0 months | 3.1 months | 0.0 months | ||
| Total Cost of Credit | BOB 417.17 | BOB 1,934.76 | BOB 5,210.65 | ||
| True Price by Comp | |||||
| Interest price component | 25.6% | 26.4% | 24.2% | ||
| Fee Component | 0.0% | 0.0% | 0.0% | ||
| Insurance Component | 0.4% | 0.4% | 0.4% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 26.0% | 26.8% | 24.6% | ||
| Transparency Index | 61 | 60 | 65 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | Yes |
| Website address | http://www.myinnovativefinance.com/ |
| Year established | 1999 |
| Head of Institution | Sheila Azuntaba |
| Regions active | Greater Accra Region, Northern Region |
| # Branches | 2 |
| Total Portfolio (nat'l) | GHS 698,000 |
| Total Portfolio (USD) | USD 354,314.72 |
| Active clients with loans | 2,756 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | Ghana Cooperative of Susu Collectors Association, ASSFIN |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Individual Small Enterprise Loan | GHS 2,000 - 10,000 | 6 - 18 | 60% - 80% | 80% - 100% | Business, Consumer, Education | Women, Men, Have business, Salaried worker, Must be Innovative Finance client for at least a year | Credit Educ, Credit Ins, Tech Asst Visits, Business Training | |||||||
| Susu Loan | GHS 200 - 1,500 | 3 - 8 | 60% - 80% | 60% - 80% | Business, Education, Other | Women, Men, Have business, Specific age group, Must contribute daily savings prior to receiving loan. Must have guarantor., Must have been working for the past 2-3 years | Credit Educ, Tech Asst Visits, Business Training, Other Training | |||||||
| Group Loan | GHS 300 - 800 | 4 - 5 | 100% | 20% - 40% | Business | Women | Credit Educ, Tech Asst Visits, Business Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Individual Small Enterprise Loan | 60.00%-84.00% annual, Flat | 1 Fee | 1 Ins | None | 30.00% upfront | 105.8% - 121.6% | 194% - 216.6% | 29 | ||||||||
| Susu Loan | 60.00%-84.00% annual, Flat | 2 Fees | 1 Ins | None | 30.00% upfront | 99.5% - 131.9% | 166.9% - 235.4% | 28 | ||||||||
| Group Loan | 42.00%-60.00% annual, Flat | 2 Fees | 0 Ins | None | 10.00%-15.00% upfront | 118.2% - 119.5% | 143.7% - 154.4% | 28 |
| Key Statistics | |
|---|---|
| # Samples: | |
| # Products | |
| # Institutions | |
| # Countries | |
| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| N (# of Samples) | ||||||
| Total Borrrowers of Samples | ||||||
| Avg | ||||||
| Min | ||||||
| Max | ||||||
| Std Dev | ||||||
| By Inst Type | ||||||
| By Country | ||||||
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| From 0 to | ||||||
| to | ||||||
| to | ||||||
| to ∞ | ||||||
