| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | No |
| Website address | http://www.actuarcaldas.org/ |
| Year established | 1986 |
| Head of Institution | Fabio Mejia Arango |
| Regions active | |
| # Branches | 4 |
| Total Portfolio (nat'l) | COP 9,550,000,000 |
| Total Portfolio (USD) | USD 5,247,252.75 |
| Active clients with loans | 3,702 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | EMPRENDER, ASOMICROFINANZAS |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Credito Acompanado | COP 300,000 - 50,000,000 | 1 - 60 | 60% - 80% | 60% - 80% | Any Purpose, VEHICULO, MOTO, VIAJES FAMILIARES | Women, Men, Have business, EL NEGOCIO PUEDE SER FORMAL O INFORMAL | Credit Educ, Credit Ins, Tech Asst Visits, Business Training, ASESORIAS PUNTUALES Y ESPECIALIZADAS PARA EL NEGOCIO, CAPACITACION SOCIEMPORESARIAL, EN DESARROLLO PERSONAL Y EN ARTES Y OFICIOS |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Credito Acompanado | 24.0%-28.8% annual, Decl Bal | 1 Fee | 0 | None | N/A | 24% - 33.9% | 24% - 33.9% | 86 |
| Outstanding portfolio (GHS) | GHS 21,719,748 |
| Portfolio (USD) | USD 11,025,252.79 |
| Active Clients with Loans | 39,801 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 40% - 60% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | x |
| 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 | x |
| 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 | 6 |
| # Regions for this product | 6 |
| Regions Active | Greater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region |
| Currency | GHS |
| Minimum loan size | GHS 100 |
| Maximum loan size | 8,000 |
| 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 | 6.0 months |
| Loans 3 months or less | 20% |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 50% |
| Between 10 and 12 months | 10% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.5 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | x |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 41.04% |
| Highest quoted nominal interest | 41.04% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Processing Fee | Application Fee | |
| % of loan amount - min | 3.50% | 0 | |
| % of loan amount - max | 3.50% | 0 | |
| OR, Fixed amount - min | 0 | 3 | |
| Fixed amount - max | 0 | 3 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 1% of total loan amount, divided and charged equally throughout loan term. |
| 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 | 15.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | End Term |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | GHS 250 | GHS 800 | GHS 1,400 | GHS 3,000 | GHS 2,700 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2012-12-24 | 2012-11-01 | 2012-12-19 | 2012-10-08 | 2012-10-24 | ||||
| Loan Term (Months) | 4.3 months | 6.0 months | 5.8 months | 7.0 months | 6.0 months | ||||
| Grace Period (Months) | 0.5 months | 0.5 months | 0.1 months | 0.5 months | 0.5 months | ||||
| Total Cost of Credit | GHS 50.73 | GHS 205.56 | GHS 349.74 | GHS 863.20 | GHS 683.94 | ||||
| True Price by Comp | |||||||||
| Interest price component | 66.7% | 69.6% | 64.1% | 69.0% | 69.2% | ||||
| Fee Component | 24.0% | 15.0% | 13.4% | 12.1% | 14.0% | ||||
| Insurance Component | 4.4% | 3.1% | 3.0% | 2.7% | 3.1% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 28.8% | 27.1% | 22.5% | 25.4% | 26.6% | ||||
| Full APR (int fee ins tax dep) | 123.9% | 114.8% | 103.0% | 109.2% | 112.9% | ||||
| Transparency Index | 33 | 36 | 40 | 38 | 36 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
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| % 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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