| Number borrowers | 777 |
| Loan Amount (range) | COP 2,000,000 - 11,845,000 |
| Loan Term (range) | 36 - 120 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins, Business Training |
| Annual Interest & Method | 16.5% annual, Decl Bal |
| Fees | 2.00%-4.00% upfront |
| Insurance | ongoing |
| Tax | None |
| Comp Dep | N/A |
| Range of pricing | |
| Interest Price Component | N/A |
| Fee Component | 15.6% - 16.4% (Int+Fee) |
| Insurance Component | 0 - 7.2% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 16.9% - 17.4% |
| Transparency Index (min/max) | 0 - N/A |
| Transparency Index (average) | 97 |
| 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 6,002,166,218 |
| Portfolio (USD) | USD 3,297,893.53 |
| Active Clients with Loans | 777 |
| 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 | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| 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 | |
| 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 2,000,000 |
| Maximum loan size | 11,845,000 |
| Shortest loan term | 36.0 months |
| Longest loan term | 120.0 months |
| Approx average | 0 |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| Grace period usage | 90% |
| Average grace period | 6.0 months |
| 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 |
| 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 | 16.50% |
| Highest quoted nominal interest | 16.50% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Comisio Microcredito.(cobrado anualmente) (MiPYME) |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 4.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Seguro Deudores |
| % of loan amount - min | 0 |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | La prima del seguro de deuda es asumido por la Fundacio para saldos hasta de $10.000.000. La prima sobre saldos superiores a esta suma se liquidan en el plan de pagos a cargo de los deudores. Se ofrece el amparo de daños como un seguro adicional. |
| 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 8,852,626 | COP 13,160,334 | COP 14,456,752 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2011-03-09 | 2011-04-29 | 2011-03-30 | ||
| Loan Term (Months) | 58.0 months | 122.0 months | 120.0 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 | 16.3% | 16.4% | 15.6% | ||
| Insurance Component | 1.1% | 0.5% | 1.2% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 17.4% | 16.9% | 16.9% | ||
| Transparency Index | 95 | 98 | 98 | ||
| 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 | |
|---|---|
| # 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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