Institution Type | Bank |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 2007 |
Head of Institution | Manuel Salvador Buriticá López |
Regions active | |
# Branches | 20 |
Total Portfolio (nat'l) | COP 33,796,891,054 |
Total Portfolio (USD) | USD 18,569,720.36 |
Active clients with loans | 5,738 |
Approximate % female clients | 20% - 40% |
Approximate % urban clients | 80% - 100% |
Network affiliations | ProCredit Holding |
Funders | ProCredit Holding Alemania, BID/ FOMIN |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Crédito para muy pequeña Empresa | COP 5,000,000 - 61,800,000 | 1 - 36 | 40% - 60% | 80% - 100% | Business, Housing, Education, Other | Women, Men, Have business, Specific age group, Persona Jurídica | Credit Ins | |||||||
Cupo transaccional | COP 1,000,000 - 150,000,000 | 3 | 0% - 20% | 80% - 100% | Business, Capital de Trabajo | Women, Men, Have business, Persona Jurà¬dica |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Crédito para muy pequeña Empresa | 29.5% annual, Decl Bal | 1 Fee | 2 Ins | None | N/A | 24.5% - 40.3% | 24.5% - 40.7% | 92 | ||||||||
Cupo transaccional | 20.3%-29.5% annual, Decl Bal | 0 Fees | 1 Ins | None | N/A | 34% - 36.9% | 34.4% - 36.9% | 57 |
Outstanding portfolio (ETB) | ETB 200,000 |
Portfolio (USD) | USD 10,869.57 |
Active Clients with Loans | 100 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | x |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | x |
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 | x |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | ETB |
Minimum loan size | ETB 5,000 |
Maximum loan size | 30,000 |
Shortest loan term | 12.0 months |
Longest loan term | 24.0 months |
Approx average | 18.0 months |
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 |
Lowest quoted nominal interest | 14.00% |
Highest quoted nominal interest | 14.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? |
% loan amount deposited | 5.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 5.00% |
Maximum interest rate paid | 5.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | ETB 5,000 | ETB 5,000 | ETB 15,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2011-09-15 | 2011-10-19 | 2010-09-13 | ||
Loan Term (Months) | 18.0 months | 18.0 months | 18.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | Not Known | Not Known | Not Known | ||
True Price by Comp | |||||
Interest and Fee Component | 25.8% | 25.8% | 25.9% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 2.0% | 2.0% | 2.0% | ||
Full APR (int fee ins tax dep) | 27.8% | 27.8% | 27.9% | ||
Transparency Index | 50 | 50 | 50 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
% Products using declining balance | |
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% 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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