Institution Type | Credit Union / Cooperative |
Is this institution regulated? | Yes |
Website address | http://www.confiar.coop/ |
Year established | 1972 |
Head of Institution | Oswaldo Gómez |
Regions active | |
# Branches | 37 |
Total Portfolio (nat'l) | COP 311,910,000,000 |
Total Portfolio (USD) | USD 171,379,120.90 |
Active clients with loans | 43,877 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 40% - 60% |
Network affiliations | |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Crédito Especial | COP 258,000 - 5,869,000 | 1 - 60 | 0% | 0% | Any Purpose | Women, Men | ||||||||
CrediAportes | COP 258,000 - 8,569,000 | 6 - 36 | 40% - 60% | 40% - 60% | Any Purpose | Women, Men, Debe ser Asociado de la Cooperativa. | Credit Ins | |||||||
Credifacil | COP 267,800 - 34,814,000 | 6 - 60 | 0% | 0% | Any Purpose | Women, Men | ||||||||
Microcredit Productivo | COP 268,000 - 64,272,000 | 6 - 60 | 0% | 0% | Any Purpose | Women, Men | ||||||||
Ordinario | COP 535,600 - 38,625,000 | 6 - 60 | 40% - 60% | 40% - 60% | Any Purpose | Women, Men | Credit Ins | |||||||
Vivienda de Interés Social VIS | COP 7,000,000 - 57,845,000 | 60 - 144 | 40% - 60% | 40% - 60% | Business, Para compra o construcción de Vivienda | Women, Men | Credit Ins | |||||||
Vivienda Especial | COP 35,000,000 - 84,975,000 | 60 - 120 | 40% - 60% | 40% - 60% | Housing, Para compra o construcción de Vivienda., Activo Fijo | Women, Men | Credit Ins |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Crédito Especial | 7.3%-14.5% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 9.2% - 14.5% | 11.5% - 14.7% | 58 | ||||||||
CrediAportes | 11.0%-13.8% annual, Decl Bal | 1 Fee | 0 Ins | None | 52,000.00 upfront | 12.3% - 17.6% | 12.5% - 18.8% | 74 | ||||||||
Credifacil | 14.4%-15.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 14.1% - 19.6% | 14.1% - 20.9% | 82 | ||||||||
Microcredit Productivo | 16.8%-24.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 20.3% - 30.8% | 20.3% - 37.1% | 63 | ||||||||
Ordinario | 16.8%-18.0% annual, Decl Bal | 1 Fee | 1 Ins | None | 52,000.00 upfront | 17.8% - 20% | 18.2% - 21.6% | 86 | ||||||||
Vivienda de Interés Social VIS | 12.4% annual, Decl Bal | 0 Fees | 2 Ins | None | 258,000.00 upfront | 12.2% | 12.7% - 13.5% | 95 | ||||||||
Vivienda Especial | 15.0% annual, Decl Bal | 0 Fees | 1 Ins | None | 515,000.00 upfront | 14% | 14.9% | 100 |
Outstanding portfolio (GHS) | GHS 72,000 |
Portfolio (USD) | USD 36,548.22 |
Active Clients with Loans | 300 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
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 | |
Workplace visits | |
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) |
# Regions for this institution | 2 |
# Regions for this product | 2 |
Regions Active | Greater Accra Region, Volta Region |
Currency | GHS |
Minimum loan size | GHS 50 |
Maximum loan size | 2,000 |
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 | 7.5 months |
Loans 3 months or less | 60% |
Between 4 and 6 months | 30% |
Between 7 and 9 months | 10% |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 0.1 months |
Daily | |
Weekly | x |
Every 2 weeks | |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | x |
Lowest quoted nominal interest | 4.00% |
Highest quoted nominal interest | 4.00% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
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 |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 20.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Final Pmt |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 300 | GHS 600 | GHS 1,400 | ||
Loan Cycle (1, 2, 3, etc) | 1 | 2 | 2 | ||
Disbursement Date | 2013-01-28 | 2012-12-26 | 2012-12-27 | ||
Loan Term (Months) | 2.6 months | 2.6 months | 3.5 months | ||
Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | ||
Total Cost of Credit | GHS 48 | GHS 96 | GHS 280 | ||
True Price by Comp | |||||
Interest price component | 92.1% | 92.1% | 92.7% | ||
Fee Component | 33.7% | 33.7% | 26.2% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 57.8% | 57.8% | 55.7% | ||
Full APR (int fee ins tax dep) | 183.6% | 183.6% | 174.6% | ||
Transparency Index | 26 | 26 | 27 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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