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Institution
Data approved: 2011-09-15
Data version: 1
Age of data: 166 months
Key Statistics
| Outstanding portfolio (COP) | COP 13,842,598,066 |
| Portfolio (USD) | USD 7,605,823.11 |
| Active Clients with Loans | 7,149 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Convenio de microcredito para apoyo a creacion y fortalecimeinto de pequeñas unidades productivas en el municipio de Medellin
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | exclusivamente para creacion de empresas |
| Other (2) | inversionen activos fijos y/o capital de trabajo |
Included Services
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | x |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| 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 | |
| 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 | COP |
| Minimum loan size | COP 533,510 |
| Maximum loan size | 5,325,100 |
Loan Term and Grace Period
| Shortest loan term | 1.0 month |
| Longest loan term | 36.0 months |
| Approx average | 24.0 months |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| 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 | |
Pricing Information
Interest
| Lowest quoted nominal interest | 0.91% |
| Highest quoted nominal interest | 0.91% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 | | Ins 2 |
|---|
| Description | Seguro de vida | | Seguro de proteccion de cartera |
| % of loan amount - min | 0.74% | | 3.00% |
| % of loan amount - max | 1.44% | | 3.00% |
| OR, Fixed amount - min | 0 | | 0 |
| Fixed amount - max | 0 | | 0 |
| Reason for variation | N/A | | N/A |
| Appears on Repayment Sched? | Yes | | Yes |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
Deposits DURING period payments
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
Interest Paid on Deposit
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Este convenio de creditos exige hacer visitas poscreditodurante el credito para verificacion de la inversion y asesoria, una a los dos meses de desembolsado y luego con intrevalos de 4 meses hasta terminar el credito, adicionalmente MEDA realiza todo el proceso del credito a exepcion del desembolso. El desempbolso lo lleva a cabo el IDEA, éste instituto elabora los cheques y los envia a MEDA para ser entregados y continuar con el proceso
Full Pricing Data
Banco de los pobres (por MEDA) samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | COP 1,200,000 | | COP 1,500,000 | | COP 3,500,000 | | COP 3,500,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-04-06 | | 2011-03-09 | | 2011-03-09 | | 2011-04-06 |
| Loan Term (Months) | 12.0 months | | 18.0 months | | 22.4 months | | 24.0 months |
| Grace Period (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 |
| True Price by Comp | | | | | | | |
| Interest and Fee Component | 11.3% | | 11.1% | | 11.1% | | 10.9% |
| Insurance Component | 6.8% | | 5.0% | | 4.1% | | 4.1% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 18.1% | | 16.2% | | 15.2% | | 15.0% |
| Transparency Index | 60 | | 68 | | 72 | | 73 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Banco de los pobres (por MEDA) Price Graphs
