Number borrowers | 5,198 |
Loan Amount (range) | COP 400,000 - 2,400,000 |
Loan Term (range) | 6 - 12 |
Other Services (text summary) | Credit Ins, Other Training, programa de Fidelizacion clientes Club Finamigos |
Annual Interest & Method | 22.4%-29.9% annual, Decl Bal |
Fees | upfront |
Insurance | 0.34% upfront |
Tax | None |
Comp Dep | N/A |
Range of pricing | |
Interest Price Component | N/A |
Fee Component | 50.6% - 52.9% (Int+Fee) |
Insurance Component | 0.6% - 0.8% |
Tax Component Range | 0 |
Full APR (int fee ins tax dep) | 51.3% - 53.7% |
Transparency Index (min/max) | 18 - 143 |
Transparency Index (average) | 43 |
2,755 |
GHS 3,000 - 15,000 |
3 - 12 |
Credit Ins |
45.0% annual, Flat |
1.50%-2.00% upfront |
0.55%-1.00% upfront |
None |
57.7% - 86.0% |
2.2% - 9.1% |
0.6% - 4.5% |
0 - 0.6% |
68.3% - 78.0% |
27 - 66 |
61 |
Outstanding portfolio (COP) | COP 5,676,635,711 |
Portfolio (USD) | USD 3,119,030.61 |
Active Clients with Loans | 5,198 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | Capital de Trabajo |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | x |
Other | programa de Fidelizacion clientes Club Finamigos |
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 | Personas sin experiencia crediticia |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Outstanding portfolio (GHS) | GHS 7,020,472.84 |
Portfolio (USD) | USD 3,563,691.80 |
Active Clients with Loans | 2,755 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 80% - 100% |
Individual | x |
Solidarity group | |
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 | |
Group meetings | |
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 | x |
Other | |
Other (2) |
# Regions for this institution | 3 |
# Regions for this product | 3 |
Regions Active | Greater Accra Region, Ashanti Region, Brong Ahafo Region |
Currency | COP |
Minimum loan size | COP 400,000 |
Maximum loan size | 2,400,000 |
Shortest loan term | 6.0 months |
Longest loan term | 12.0 months |
Approx average | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Currency | GHS |
Minimum loan size | GHS 3,000 |
Maximum loan size | 15,000 |
Loans less than GHS 1,000 | 0 |
GHS 1,000-5,000 | 90% |
GHS 5,000-7,500 | 10% |
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 | 10.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 10% |
Between 7 and 9 months | 50% |
Between 10 and 12 months | 40% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
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 | 22.39% |
Highest quoted nominal interest | 29.93% |
Reason(s) why interest rate varies | Time as Client, Client Risk, Loan Purpose |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | No |
Fee 1 | |
---|---|
Description | Comision ley Mipyme que se paga por los gasto de originaciòn , seguimiento y cobranza del crÚdito. (cobrado anualmente) (para algunos prestamos de este producto) |
% of loan amount - min | 0 |
% of loan amount - max | 7.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Seguro de Vida 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 |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Lowest quoted nominal interest | 3.75% |
Highest quoted nominal interest | 3.75% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Processing Fee |
% of loan amount - min | 1.50% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Fee increased from 1.5% to 2.0% in March 2013. |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 0.55% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Fee increased from 0.55% to 1.0% in July 2013. |
Appears on Repayment Sched? | Yes |
Required for | Some |
Criteria | Required only if physical collateral provided is not sufficient. |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 0 - 20.00% |
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 | 6.00% |
Maximum interest rate paid | 6.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | COP 484,000 | COP 1,100,000 | COP 1,500,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2011-04-16 | 2011-04-28 | 2011-04-14 | ||
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 | 50.6% | 51.4% | 52.9% | ||
Insurance Component | 0.7% | 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) | 51.3% | 52.2% | 53.7% | ||
Transparency Index | 44 | 43 | 42 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Sample 2 | Sample 3 | Sample 4 | |||
---|---|---|---|---|---|
Loan Amount | GHS 6,000 | GHS 8,000 | GHS 13,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-06-10 | 2013-06-03 | 2013-06-28 | ||
Loan Term (Months) | 12.0 months | 12.0 months | 24.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.3 months | ||
Total Cost of Credit | GHS 2,860 | GHS 3,283 | GHS 10,322.50 | ||
True Price by Comp | |||||
Interest price component | 72.4% | 62.8% | 59.0% | ||
Fee Component | 4.2% | 4.1% | 2.3% | ||
Insurance Component | 1.1% | 1.2% | 0.7% | ||
Tax Component | 0.3% | 0.2% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 12.2% | ||
Full APR (int fee ins tax dep) | 78.0% | 68.3% | 74.2% | ||
Transparency Index | 58 | 66 | 61 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Key Statistics | |
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# 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 |
Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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