| Number borrowers | 320 |
| Loan Amount (range) | COP 200,000 - 700,000 |
| Loan Term (range) | 3 - 6 |
| Other Services (text summary) | Credit Ins, Other Training, programa de Fidelizacion clientes Club Finamigos |
| Annual Interest & Method | 21.6%-29.6% 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 | 33.9% - 53.2% (Int+Fee) |
| Insurance Component | 0.6% - 0.8% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 34.5% - 53.9% |
| Transparency Index (min/max) | 18 - 143 |
| Transparency Index (average) | 48 |
| Outstanding portfolio (COP) | COP 108,984,811 |
| Portfolio (USD) | USD 59,881.76 |
| Active Clients with Loans | 320 |
| 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 | antigàŒedad del negocio de 18 meses y activos fijos inferiores a 500 SMLV |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | COP |
| Minimum loan size | COP 200,000 |
| Maximum loan size | 700,000 |
| Shortest loan term | 3.0 months |
| Longest loan term | 6.0 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 |
| Lowest quoted nominal interest | 21.64% |
| Highest quoted nominal interest | 29.57% |
| Reason(s) why interest rate varies | 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 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 por 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 |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | COP 350,000 | COP 500,000 | COP 5,000,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2011-04-14 | 2011-04-20 | 2011-04-19 | ||
| Loan Term (Months) | 6.0 months | 6.0 months | 6.0 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 | 33.9% | 53.2% | 51.2% | ||
| Insurance Component | 0.6% | 0.7% | 0.7% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 34.5% | 53.9% | 51.9% | ||
| Transparency Index | 63 | 40 | 42 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
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| # 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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