Institution Type | Bank |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 2004 |
Head of Institution | Sebastian Tobon Palacio |
Regions active | |
# Branches | 26 |
Total Portfolio (nat'l) | COP 93,846,000,000 |
Total Portfolio (USD) | USD 51,563,736.26 |
Active clients with loans | 36,297 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 60% - 80% |
Network affiliations | Red de Microcredito, Asomicrofinanzas |
Funders | Grupo Bancolombia |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Microcrédito | COP 535,600 - 13,390,000 | 3 - 48 | 40% - 60% | 60% - 80% | Business, Other, Activos fijos, reforma locativa, insumos, Gastos operativos del negocio, capital de trabajo | Women, Men, Have business, Centrales de Riesgo aprobadas | Credit Educ, Tech Asst Visits, Other Training, Acompañamiento y seguimiento, Educación financiera |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Microcrédito | 29.6% annual, Decl Bal | 1 Fee | 2 Ins | None | N/A | 39.4% - 41.3% | 45.2% - 57.7% | 59 |
Outstanding portfolio (GHS) | GHS 10,899,423.83 |
Portfolio (USD) | USD 5,532,702.45 |
Active Clients with Loans | 11,440 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
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 | x |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Western Region |
Currency | GHS |
Minimum loan size | GHS 200 |
Maximum loan size | 12,000 |
Loans less than GHS 1,000 | 10% |
GHS 1,000-5,000 | 30% |
GHS 5,000-7,500 | 20% |
GHS 7,500-10,000 | 20% |
GHS 10,000-13,000 | 20% |
Greater than GHS 13,000 | 20% |
Shortest loan term | 12.0 months |
Longest loan term | 36.0 months |
Approx average | 36.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 60% |
Between 13 and 18 months | 40% |
Longer than 18 months | 0 |
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 | 25.50% |
Highest quoted nominal interest | 38.00% |
Reason(s) why interest rate varies | Duration of Loan |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 4.00% |
% of loan amount - max | 4.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Insurance Fee |
% 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? | 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 |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | GHS 300 | GHS 700 | GHS 1,500 | GHS 3,000 | GHS 6,000 | GHS 8,500 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2012-12-25 | 2013-01-25 | 2013-01-25 | 2013-01-25 | 2013-02-28 | 2012-11-30 | |||||
Loan Term (Months) | 12.0 months | 12.0 months | 15.0 months | 24.0 months | 24.0 months | 24.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
Total Cost of Credit | GHS 112.50 | GHS 262.50 | GHS 594.43 | GHS 1,695 | GHS 3,390 | GHS 4,802.55 | |||||
True Price by Comp | |||||||||||
Interest price component | 53.5% | 53.7% | 46.3% | 42.6% | 42.5% | 42.7% | |||||
Fee Component | 8.3% | 8.3% | 6.8% | 4.5% | 4.6% | 4.6% | |||||
Insurance Component | 3.2% | 3.3% | 2.7% | 1.8% | 1.7% | 1.8% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 65.0% | 65.3% | 55.8% | 48.9% | 48.8% | 49.1% | |||||
Transparency Index | 49 | 49 | 57 | 65 | 66 | 52 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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