Cooperativa de Ahorro y Credito Congente - microcredito productivo - MFTransparency.org Truth In Lending Tables

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Institution

Cooperativa de Ahorro y Credito Congente cra 33a 38-39 Barrio CentroVillavicencio, META

Data approved: 2011-03-24

Data version: 1

Age of data: 167 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (COP)	COP 368,613,005
Portfolio (USD)	USD 202,534.62
Active Clients with Loans	213
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	80% - 100%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Para atender el financiamiento de las necesidades de los microempresarios en cuanto al capital de Trabajo y Activos Fijos que requiere para operar.

Loan Purpose

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

Included Services

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

Eligibility

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)

# 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 535,600
Maximum loan size	5,356,000

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	24.0 months
Approx average	18.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	26.53%
Highest quoted nominal interest	26.53%
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	MIPYME
% of loan amount - min	4.50%
% of loan amount - max	7.50%
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

	Ins 1
Description	Seguro Vida
% of loan amount - min	0.60%
% 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

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	Yes
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	0
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	COP 5,000
Conditions on access to deposit	When Leaving

Interest Paid on Deposit

Minimum interest rate paid	0
Maximum interest rate paid	1.80%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

microcredito productivo samples

	Sample 1	Sample 2	Sample 3
Loan Amount	COP 1,080,000	COP 1,110,000	COP 2,540,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-01-12	2011-01-07	2010-12-30
Loan Term (Months)	12.0 months	12.0 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	34.7%	34.2%	31.9%
Insurance Component	1.2%	1.2%	1.2%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	1.4%	1.4%	0.8%
Full APR (int fee ins tax dep)	37.2%	36.8%	33.9%
Transparency Index	71	72	78

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

microcredito productivo 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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