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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 158 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 75,062,850 |
| Portfolio (USD) | USD 1,795,761.96 |
| Active Clients with Loans | 5,719 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 40% - 60% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | MABS Approach |
Description
An Asenso Loan is an individual microfinance loan product for microenterprises to help them expand their present business activities and increase their income.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | Tie-up with other agencies (DTI, TESDA) for trainings |
| Other (2) | |
| No other services | |
Eligibility
| 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 | x |
| Other | 18-65 years old |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active | |
Loan Conditions
Loan Amount
| Currency | PHP |
| Minimum loan size | PHP 10,000 |
| Maximum loan size | 150,000 |
Loan Term and Grace Period
| Shortest loan term | 1.0 month |
| Longest loan term | 12.0 months |
| Approx average | 0 |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 2.50% |
| Highest quoted nominal interest | 2.50% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Notarial Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 100 |
| Fixed amount - max | 100 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
Ongoing Fees
| Fee 1 |
|---|
| Description | Service Charge |
| % of loan amount - min | 3.00% |
| % of loan amount - max | 4.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 4% if above 18 days |
| Appears on Repayment Sched? | No |
Upfront Insurance Fees
| Ins 1 |
|---|
| Description | Loan Redemption Plan |
| % of loan amount - min | 1.50% |
| % of loan amount - max | 1.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing Insurance Fees
| Ins 1 |
|---|
| Description | MBA (Microinsurance) |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 20 |
| Fixed amount - max | 20 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 100 |
Deposits DURING period payments
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Access During |
Interest Paid on Deposit
| Minimum interest rate paid | 3.00% |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | Quarterly |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Credit Insurance is 1.5% per annum; TAXES: Documentary Stamps - Above 5, loan amount only - (Loan Amount less 5,)/2;
Full Pricing Data
ASENSO Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
|---|
| Loan Amount | PHP 15,000 | | PHP 30,000 | | PHP 60,000 | | PHP 100,000 | | PHP 120,000 |
| Loan Cycle (1, 2, 3, etc) | 4 | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-04-20 | | 2010-11-30 | | 2011-07-06 | | 2011-01-20 | | 2010-12-15 |
| Loan Term (Months) | 5.6 months | | 8.4 months | | 11.2 months | | 4.7 months | | 11.2 months |
| Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months |
| Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| True Price by Comp | | | | | | | | | |
| Interest and Fee Component | 74.4% | | 71.0% | | 66.3% | | 68.4% | | 66.1% |
| Insurance Component | 18.9% | | 10.7% | | 6.5% | | 9.0% | | 5.1% |
| Tax Component | 0.0% | | 0.0% | | 0.2% | | 1.2% | | 0.7% |
| Deposit Component | 10.2% | | 8.6% | | 7.5% | | 7.0% | | 7.3% |
| Full APR (int fee ins tax dep) | 103.5% | | 90.3% | | 80.5% | | 85.6% | | 79.2% |
| Transparency Index | 29 | | 33 | | 37 | | 35 | | 38 |
| | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
