2. Finamerica
Please note that the information you are viewing is 166 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Wisdom MFI
Please note that the information you are viewing is 154 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Finamerica Calle 16 # 6-66 piso 4Bogotá, Cundinamarca
Data approved: 2011-03-15
Data version: 1
Age of data: 166 months

Institution

Wisdom Microfinance Institution S.Co Bole Sub CityAddis Ababa31478
Data approved: 2012-03-12
Data version: 1
Age of data: 154 months

Product

Credito Individual Nuevo y Renovado Product 3 of 7 « Prev | Next »

Product

Enterprise loan Product 5 of 6 « Prev | Next »

Product Summary

Number borrowers23,954
Loan Amount (range)COP 772,000 - 83,430,000
Loan Term (range)1 - 59
Other Services (text summary)Credit Educ, Credit Ins, Programa Afinidad
Annual Interest & Method8.0%-29.6% annual, Decl Bal
Fees4.50%-7.50% upfront upfront
Insurance0.34% upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component41.2% - 44.3% (Int+Fee)
Insurance Component0.6% - 0.8%
Tax Component Range0
Full APR (int fee ins tax dep)42.0% - 45.1%
Transparency Index (min/max)18 - 143
Transparency Index (average)18

Product Summary

61
ETB 4,500 - 8,000
9 - 12
Credit Educ, Group Mtgs, Credit Ins
15.0% annual, Flat
2.50% upfront
None
None
10.0% upfront 10.00 ongoing
 
N/A
22.9% - 31.9% (Int+Fee)
2.3% - 7.6%
0
30.1% - 76.9%
20 - 69
35

Product Details

Key Statistics
Outstanding portfolio (COP)COP 100,142,000,000
Portfolio (USD)USD 55,023,076.92
Active Clients with Loans23,954
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Crédito mediante el cual el empresario obtiene fácilmente crédito para: compra de mercancías, insumos, adquisición de maquinaria, equipos, muebles, enseres y vehículo de uso productivo, compra o mejora del local.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
OtherCapital de Trabajo
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
OtherPrograma Afinidad
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
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 institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (ETB)ETB 126,050
Portfolio (USD)USD 6,850.54
Active Clients with Loans61
Approximate % Female Clients60% - 80%
Approximate % Urban Clients80% - 100%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
This is for entrepreneurs in urban areas. Having at least one employee, minimum capital and being in business at least for six months are some of the requirements.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
OtherMust have at least one employee
Other (2)Must have at least a certain minimum capital limit.
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyCOP
Minimum loan sizeCOP 772,000
Maximum loan size83,430,000
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term59.0 months
Approx average32.0 months
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyETB
Minimum loan sizeETB 4,500
Maximum loan size8,000
Loan Term and Grace Period
Shortest loan term9.0 months
Longest loan term12.0 months
Approx average10.0 months
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest8.00%
Highest quoted nominal interest29.57%
Reason(s) why interest rate variesTime as Client, Client Risk, Clientes cuyos pagos de obligacion han sido siempre al dia, al igual que cliente que tomen lineas de redescuento de bancoldex.
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?
Is rate fixed for entire loan termNo
Upfront Fees
Fee 1Fee 2
DescriptionComision ley MipymeComision por consulta centrales de Riesgo + IVA (No todos)
% of loan amount - min4.50%0
% of loan amount - max7.50%0
OR, Fixed amount - min00
Fixed amount - max03,500
Reason for variationQue se paga por los gasto de originaciòn , seguimiento y cobranza del crÚdito. (se cobra anualmenteN/A
Appears on Repayment Sched?YesYes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionSeguro de vida por el monto desembolsado
% of loan amount - min0.34%
% of loan amount - max0.34%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No
Additional Comments
Se debe aclarar que la comision de seguro de vida es del 3.422 por cada $1. pesos prestados

Pricing Information

Interest
Lowest quoted nominal interest15.00%
Highest quoted nominal interest15.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionService Charge
% of loan amount - min2.50%
% of loan amount - max2.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?Yes
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 forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00% - N/A
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedETB 10 - N/A
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyMonthly
Taxes
Are taxes charged on this product?No
Additional Comments
Savings interest is compounded monthly

Full Pricing Data

Credito Individual Nuevo y Renovado samples
Sample 1Sample 2Sample 3
Loan AmountCOP 2,500,000COP 3,500,000COP 7,400,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2011-04-302011-04-302011-04-19
Loan Term (Months)6.0 months12.0 months24.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot Known
True Price by Comp     
Interest and Fee Component43.1%44.3%41.2%
Insurance Component0.6%0.7%0.8%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)43.8%45.1%42.0%
Transparency Index181819
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF

Full Pricing Data

Enterprise loan samples
Sample 1Sample 2Sample 3
Loan AmountETB 4,000ETB 8,000ETB 8,000
Loan Cycle (1, 2, 3, etc)3Not KnownNot Known
Disbursement Date2011-12-162011-08-192011-08-19
Loan Term (Months)6.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot Known
True Price by Comp     
Interest and Fee Component22.9%31.9%31.9%
Insurance Component4.4%4.2%4.2%
Tax Component0.0%0.0%0.0%
Deposit Component2.8%7.0%40.8%
Full APR (int fee ins tax dep)30.1%43.1%76.9%
Transparency Index503520
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Credito Individual Nuevo y Renovado 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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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