| Institution Type | Credit Union / Cooperative |
| Is this institution regulated? | Yes |
| Website address | http://www.comerciacoop.coop/ |
| Year established | 1996 |
| Head of Institution | Jesus Maria Medina Duran |
| Regions active | |
| # Branches | 5 |
| Total Portfolio (nat'l) | COP 6,506,159,027 |
| Total Portfolio (USD) | USD 3,574,812.65 |
| Active clients with loans | 5,000 |
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Comercial (COP) | COP 200,000 - 107,000,000 | 1 - 78 | 40% - 60% | 80% - 100% | Business | Women, Men, Have business, Have home or land | Credit Educ, Group Mtgs, Business Training, Other Training, CAPITALIZACION APORTES, AHORRO PROGRAMADO | |||||||
| Consumo (COP) | COP 200,000 - 12,800,000 | 1 - 60 | 40% - 60% | 80% - 100% | Any Purpose | Women, Men, Have home or land, Salaried worker, Codeudor | Group Mtgs, Credit Ins, Business Training, Other Training, CAPITALIZACION APORTES, AHORRO PROGRAMADO | |||||||
| Microcredito | COP 200,000 - 12,875,000 | 1 - 36 | 80% - 100% | 60% - 80% | Business, CAPITAL DE TRABAJO, LIQUIDEZ, ACTIVOS | Women, Men, Have business, MICROEMPRESARIO, COMERCIANTE - INDEPENDIENTES | Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training, CAPITALIZACION APORTES, AHORRO PROGRAMADO |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Comercial (COP) | 10.4%-25.9% annual, Decl Bal | 1 Fee | 1 Ins | None | 1.00% ongoing | 17.7% - 21.9% | 20.2% - 23.2% | 48 | ||||||||
| Consumo (COP) | 10.6%-27.5% annual, Decl Bal | 1 Fee | 1 Ins | None | 1.00% ongoing | 19.9% - 20.4% | 22.4% - 25.8% | 44 | ||||||||
| Microcredito | 17.3%-29.4% annual, Decl Bal | 1 Fee | 1 Ins | None | 3.00% ongoing | 26.6% - 33.4% | 28.9% - 38.2% | 50 |
| Outstanding portfolio (ETB) | ETB 126,050 |
| Portfolio (USD) | USD 6,850.54 |
| Active Clients with Loans | 61 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | |
| 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 | x |
| Workplace visits | |
| Business training | |
| 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 | Must have at least one employee |
| Other (2) | Must have at least a certain minimum capital limit. |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | ETB |
| Minimum loan size | ETB 4,500 |
| Maximum loan size | 8,000 |
| Shortest loan term | 9.0 months |
| Longest loan term | 12.0 months |
| Approx average | 10.0 months |
| 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 | 15.00% |
| Highest quoted nominal interest | 15.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Service Charge |
| % of loan amount - min | 2.50% |
| % of loan amount - max | 2.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 10.00% - N/A |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | ETB 10 - N/A |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 5.00% |
| Maximum interest rate paid | 5.00% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | ETB 4,000 | ETB 8,000 | ETB 8,000 | ||
| Loan Cycle (1, 2, 3, etc) | 3 | Not Known | Not Known | ||
| Disbursement Date | 2011-12-16 | 2011-08-19 | 2011-08-19 | ||
| Loan Term (Months) | 6.0 months | 12.0 months | 12.0 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 | 22.9% | 31.9% | 31.9% | ||
| Insurance Component | 4.4% | 4.2% | 4.2% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 2.8% | 7.0% | 40.8% | ||
| Full APR (int fee ins tax dep) | 30.1% | 43.1% | 76.9% | ||
| Transparency Index | 50 | 35 | 20 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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