| Number borrowers | 466 |
| Loan Amount (range) | USD 500 - 25,000 |
| Loan Term (range) | 6 - 48 |
| Other Services (text summary) | Credit Ins |
| Annual Interest & Method | 18.0%-36.0% annual, Decl Bal |
| Fees | None |
| Insurance | 0.36%-2.88% ongoing |
| Tax | None |
| Comp Dep | N/A |
| Range of pricing | |
| Interest Price Component | 19.1% - 36.0% |
| Fee Component | 0 |
| Insurance Component | 0.6% - 0.9% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 19.8% - 26.7% |
| Transparency Index (min/max) | 52 - 95 |
| Transparency Index (average) | 77 |
| 2,250 |
| GHS 300 - 800 |
| 4 - 5 |
| Credit Educ, Tech Asst Visits, Business Training |
| 42.00%-60.00% annual, Flat |
| 2 fees |
| None |
| None |
| 10.00%-15.00% upfront |
| 84.9% - 110.4% |
| 11.3% - 31.6% |
| 0 - 6.6% |
| 0 |
| 143.7% - 154.4% |
| 25 - 36 |
| 28 |
| Outstanding portfolio (USD) | USD 1,736,926.16 |
| Portfolio (USD) | USD 1,736,926.16 |
| Active Clients with Loans | 466 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 60% - 80% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| 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 | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Debe estar afiliado a alguna asociacion, cooperativa y /o Sindicato de transporte. |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 1 |
| Regions Active | Santa Cruz |
| Outstanding portfolio (GHS) | GHS 565,000 |
| Portfolio (USD) | USD 286,802.03 |
| Active Clients with Loans | 2,250 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | |
| Credit insurance | |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 2 |
| Regions Active | Greater Accra Region, Northern Region |
| Currency | USD |
| Minimum loan size | USD 500 |
| Maximum loan size | 25,000 |
| Loans less than USD 1,500 | 5% |
| USD 1,500-5,000 | 30% |
| USD 5,000-10,000 | 30% |
| USD 10,000-15,000 | 20% |
| USD 15,000-18,000 | 5% |
| Greater than USD 18,000 | 5% |
| Shortest loan term | 6.0 months |
| Longest loan term | 48.0 months |
| Approx average | 38.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Currency | GHS |
| Minimum loan size | GHS 300 |
| Maximum loan size | GHS 800 |
| Loans less than GHS 1,000 | 100% |
| GHS 1,000-5,000 | 0 |
| GHS 5,000-7,500 | 0 |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
| Shortest loan term | 4.0 months |
| Longest loan term | 5.0 months |
| Approx average | DK |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | DK |
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 18.00% |
| Highest quoted nominal interest | 36.00% |
| Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk, Collateral |
| 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 | Pago del seguro de desgravamen |
| % of loan amount - min | 0.36% |
| % of loan amount - max | 2.88% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Se aplica 0.06% en cada cuota cargado en el saldo pendiente del principal |
| 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 |
| Lowest quoted nominal interest | 3.50% |
| Highest quoted nominal interest | 5.00% |
| Reason(s) why interest rate varies | Branch, Time as Client, Loan Size, Client Risk, Collateral, Loan Purpose |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Processing Fee | Commitment Fee | |
| % of loan amount - min | 2.00% | 1.00% | |
| % of loan amount - max | 4.00% | 1.00% | |
| OR, Fixed amount - min | 0 | 0 | |
| Fixed amount - max | 0 | 0 | |
| Reason for variation | 1st cycle loans are 3.5-4%, multiple-cycle loans are 2%. | N/A | |
| Appears on Repayment Sched? | No | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% - 15.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 1.00% |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 8.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | USD 1,501 | USD 3,500 | USD 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-12-27 | 2013-12-27 | 2013-12-27 | ||
| Loan Term (Months) | 20.0 months | 31.0 months | 19.0 months | ||
| Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | ||
| Total Cost of Credit | USD 384.85 | USD 1,299.01 | USD 2,646.21 | ||
| True Price by Comp | |||||
| Interest price component | 26.1% | 24.1% | 19.1% | ||
| Fee Component | 0.0% | 0.0% | 0.0% | ||
| Insurance Component | 0.6% | 0.7% | 0.7% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 26.7% | 24.8% | 19.8% | ||
| Transparency Index | 67 | 73 | 91 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 300 | GHS 500 | GHS 1,000 | ||
| Loan Cycle (1, 2, 3, etc) | 1 | 1 | 1 | ||
| Disbursement Date | 2012-12-10 | 2012-12-10 | 2013-02-05 | ||
| Loan Term (Months) | 4.0 months | 4.0 months | 5.1 months | ||
| Grace Period (Months) | 0.2 months | 0.2 months | 0.5 months | ||
| Total Cost of Credit | GHS 67.58 | GHS 112.58 | GHS 300 | ||
| True Price by Comp | |||||
| Interest price component | 92.9% | 92.9% | 95.5% | ||
| Fee Component | 26.6% | 26.5% | 22.7% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 24.2% | 24.3% | 36.2% | ||
| Full APR (int fee ins tax dep) | 143.7% | 143.7% | 154.4% | ||
| Transparency Index | 29 | 29 | 27 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 |
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