CONFIAR Cooperativa Financiera - Credifacil - MFTransparency.org Truth In Lending Tables

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Institution

CONFIAR Cooperativa Financiera Calle 52 NÂ° 49-40Medellin, Antioquia

Data approved: 2011-03-15

Data version: 1

Age of data: 167 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (COP)	0
Portfolio (USD)
Active Clients with Loans	15,313
Approximate % Female Clients	0
Approximate % Urban Clients	0

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Crédito de libre inversión sin codeudor y con montos hasta cincuenta (65) S.M.M.L.V ($33.475.000), de acuerdo al tipo de actividad económica que desarrolle la persona y su capacidad de pago.

Loan Purpose

Any purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other services	x

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)

# Borrowers by Product

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 267,800
Maximum loan size	34,814,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	60.0 months
Approx average	0

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly	x
Every 2 weeks	x
Every 4 weeks
Monthly	x
Every 2 months
Quarterly	x
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	14.40%
Highest quoted nominal interest	15.00%
Reason(s) why interest rate varies	N/A
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Fondo de Desarrollo Institucional. (% sobre monto total del prestamo)
% 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

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

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

Are taxes charged on this product?

Full Pricing Data

Credifacil samples

	Sample 1	Sample 2	Sample 3
Loan Amount	COP 1,408,313	COP 6,582,954	COP 29,890,458
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-01-26	2011-01-25	2011-01-06
Loan Term (Months)	18.0 months	24.0 months	60.0 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	19.6%	18.9%	14.1%
Insurance Component	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	1.3%	0.3%	0.0%
Full APR (int fee ins tax dep)	20.9%	19.2%	14.1%
Transparency Index	69	75	100

Original Repayment Schedule	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF

Credifacil Price Graphs

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Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
Loan Portfolio (USD)
% Products using declining balance
% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits

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Total Borrrowers of Samples


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