Finamerica - Credito Pymes - MFTransparency.org Truth In Lending Tables

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Institution

Finamerica Calle 16 # 6-66 piso 4Bogotá, Cundinamarca

Data approved: 2011-03-15

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 27,674,508,960
Portfolio (USD)	USD 15,205,774.15
Active Clients with Loans	955
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	80% - 100%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Crédito para las Pequeñas y Medianas Empresas la financiación de materia prima, insumos, inventarios, gastos operativos y de funcionamiento, maquinaria y equipos, vehículo de uso productivo, compra ó adecuación de bodegas ó locales.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other	Compra de mercancías, insumos, adquisición de maqu
Other (2)

Included Services

Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other	Programa Afinidad (tarjeta club finamigos)
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	Personas Naturales y Jurídicas con activos entre $248 y $2.480 millones pertenecientes a los sectore
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 12,440,000
Maximum loan size	300,000,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	59.0 months
Approx average	0

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	20.85%
Highest quoted nominal interest	21.60%
Reason(s) why interest rate varies	Time as Client, Loan Size, Client Risk, Collateral, Depende de la fuente de financiamiento : Recursos propios o Bancoldex
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?
Is rate fixed for entire loan term	No

Upfront Fees

	Fee 1	Fee 2
Description	CIFIN	Comision por consulta de centrales de riesgo
% of loan amount - min	0	0
% of loan amount - max	0	0
OR, Fixed amount - min	0	3,500
Fixed amount - max	50,000	3,500
Reason for variation		N/A
Appears on Repayment Sched?	Yes	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Seguro de vida por el monto desembolsado
% of loan amount - min	0.34%
% of loan amount - max	0.34%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	Yes

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/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 deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Credito Pymes samples

	Sample 1	Sample 2	Sample 3
Loan Amount	COP 15,000,000	COP 25,000,000	COP 40,000,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-04-28	2011-04-20	2011-04-30
Loan Term (Months)	36.0 months	36.0 months	48.0 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	23.1%	20.3%	13.7%
Insurance Component	0.8%	0.8%	0.8%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	23.8%	21.0%	14.5%
Transparency Index	87	99	100

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

Credito Pymes 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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