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Institution
Data approved: 2013-03-12
Data version: 2
Age of data: 144 months
Description
Group loan is designed to men and women engaged in micro-business. The loan is offered with access to free training in leadership development, financial literacy and community development. Collateral is not required.
Any purpose Income generation x Mortgage/housing Consumer loan Agriculture Education Other household finance Other Other (2)
Credit education x Group meetings x Credit insurance x Workplace visits x Business training x 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)
Portfolio Size by Product
Geographic Coverage
# Regions for this institution 6 # Regions for this product 6 Regions Active Greater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region
Loan Conditions
Currency GHS Minimum loan size GHS 100 Maximum loan size 8,000
Loans less than GHS 1,000 60% GHS 1,000-5,000 40% 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 3.0 months Longest loan term 12.0 months Approx average 6.0 months
Loans 3 months or less 20% Between 4 and 6 months 20% Between 7 and 9 months 50% Between 10 and 12 months 10% Between 13 and 18 months 0 Longer than 18 months 0
Daily Weekly x Every 2 weeks x Every 4 weeks x Monthly Every 2 months Quarterly Every 6 months Every 12 months Single end payment Irregular payments
Pricing Information
Interest
Lowest quoted nominal interest 41.04% Highest quoted nominal interest 41.04% Interest rate period Yearly Interest Rate Calculation Method Flat Subsidized by funder request? No Is rate fixed for entire loan term Yes
Upfront Fees Fee 1 Fee 2 Description Processing Fee Application Fee % of loan amount - min 3.50% 0 % of loan amount - max 3.50% 0 OR, Fixed amount - min 0 3 Fixed amount - max 0 3 Reason for variation N/A N/A Appears on Repayment Sched? No No
Ongoing Fees This product has no ongoing fees Upfront Insurance Fees This product has no upfront insurance fees Ongoing Insurance Fees Ins 1 Description Insurance Fee % of loan amount - min 1.00% % of loan amount - max 1.00% OR, Fixed amount - min 0 Fixed amount - max 0 Reason for variation 1% of total loan amount , divided and charged equally throughout loan term. Appears on Repayment Sched? Yes
Required for All Criteria N/A Is deposit indicated on the repayment schedule? No Do borrowers control deposit in their group? No
Deposit BEFORE or AT Disbursement
% loan amount deposited 15.00% or, Fixed-amount deposited 0
Deposits DURING period payments
% loan amount deposited 0 or, Fixed-amount deposited 0 Conditions on access to deposit End Term
Interest Paid on Deposit
Minimum interest rate paid 0 Maximum interest rate paid 3.00% Interest payment frequency End Term
Taxes
Are taxes charged on this product? No
Additional Comments
Interest paid on deposit rule - If amount deposited is less than 1,000 GHS, 0% interest. If amount deposited is 1,000 GHS or more, 3% interest.
Group Loan Price Graphs
0 100 Pricing Transparency Index Regulated Inst. Not Regulated Inst. NBFI Institution Type Business Loan Purpose OISL Institution GH-036-V02-P04 Product GH Country 2013 Year Range Number 2 Institution Data Version 0 500 1,000 1,500 2,000 2,500 3,000 Loan Size (all) 0% 50% 100% Full APR (int fee ins tax dep) > 23,000 17,000 11,000 5,900 600 Number of Borrowers
