Finamerica - Grupo Solidario Confianza - 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 172,005,292
Portfolio (USD)	USD 94,508.40
Active Clients with Loans	311
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	20% - 40%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other	Nàºmero de integrantes de cada grupo mínimo 3 máximo 8

Description

Crédito otorgado a un grupo de microempresarios del sector agropecuario, con carencia de garantías, donde cada integrante es responsable de su crédito y a su vez del crédito otorgado a los demás integrantes del grupo

Loan Purpose

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

Included Services

Credit education	x
Group meetings
Credit insurance
Workplace visits
Business training
Other training	x
Other	Charlas de grupo , cobranza de creditos , charlas de ahorro.
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Other	Agrupacion de personas que tengan en comun, proyectos agropecuarios, agroindustriales, comerciales.
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 200,000
Maximum loan size	2,000,000

Distribution at Disbursement (Est.)

Loans less than COP 5,000,000	100%
COP 5,000,000-20,000,000	0
COP 20,000,000-35,000,000	0
COP 35,000,000-50,000,000	0
COP 50,000,000-65,000,000	0
Greater than COP 65,000,000	0

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	12.0 months
Approx average	0

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly
Every 2 weeks	x
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	18.68%
Highest quoted nominal interest	29.57%
Reason(s) why interest rate varies	Branch, Time as Client, Client Risk
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
Description	Comision ley Mipyme que se paga por los gasto de originaciÃ²n , seguimiento y cobranza del crÃšdito. (cobrado anualmente)(solamente para algunos prestamos de este producto)
% of loan amount - min	7.50%
% of loan amount - max	7.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Seguro de vida por el monto desembolsado (cobrado anualmente)
% 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

Grupo Solidario Confianza samples

	Sample 1	Sample 2	Sample 3
Loan Amount	COP 200,000	COP 1,200,000	COP 1,500,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-04-28	2011-04-30	2011-04-29
Loan Term (Months)	8.0 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	33.6%	52.5%	51.8%
Insurance Component	0.6%	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)	34.2%	53.3%	52.6%
Transparency Index	55	35	36

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

Grupo Solidario Confianza 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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Total Borrrowers of Samples


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