Outstanding portfolio (COP) | COP 1,766,800,488 |
Portfolio (USD) | USD 970,769.50 |
Active Clients with Loans | 1,393 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
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 | |
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 | |
Must be specific age group | |
Other | Debe ser Asociado de la Cooperativa. |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | COP |
Minimum loan size | COP 258,000 |
Maximum loan size | 8,569,000 |
Shortest loan term | 6.0 months |
Longest loan term | 36.0 months |
Approx average | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 10.97% |
Highest quoted nominal interest | 13.77% |
Reason(s) why interest rate varies | Client Risk, Plazo del crédito |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Fondo de Desarrollo Institucional |
% of loan amount - min | 2.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? |
% loan amount deposited | 0 |
or, Fixed-amount deposited | COP 52,000 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | When Leaving |
Minimum interest rate paid | 1.00% |
Maximum interest rate paid | 1.00% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | COP 1,325,468 | COP 3,187,500 | COP 7,038,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2011-02-08 | 2011-01-15 | 2011-01-23 | ||
Loan Term (Months) | 10.0 months | 12.0 months | 36.0 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 | 17.6% | 14.0% | 12.3% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 1.3% | 0.4% | 0.2% | ||
Full APR (int fee ins tax dep) | 18.8% | 14.4% | 12.5% | ||
Transparency Index | 58 | 76 | 88 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Institution Type | Credit Union / Cooperative |
Is this institution regulated? | No |
Website address | N/A |
Year established | 2004 |
Head of Institution | Akaare Emmanuel |
Regions active | Northern Region |
# Branches | 1 |
Total Portfolio (nat'l) | GHS 64,800 |
Total Portfolio (USD) | USD 32,893.40 |
Active clients with loans | 145 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 0% - 20% |
Network affiliations | CUA, GHAMFIN |
Funders | SENDFINCO (SEND Ghana) |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | GHS 150 - 10,000 | 1 - 18 | 40% - 60% | 20% - 40% | Business | Women, Men, Have business | Group Mtgs | |||||||
Microfinance Loan | GHS 120 - 250 | 4 | 80% - 100% | 0% - 20% | Business | Women, must be in a group and in the community | Credit Educ, Group Mtgs |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | 36.00% annual, Decl Bal | 1 Fee | 1 Ins | None | 50.00% upfront | 38.1% - 40.2% | 162.3% - 175.1% | 21 | ||||||||
Microfinance Loan | 30.00% annual, Flat | 1 Fee | 0 Ins | None | N/A- upfront | 60.9% - 63.6% | 63% - 69.5% | 45 |
Key Statistics | |
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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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