Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | N/A |
Year established | 1997 |
Head of Institution | Elsy Isabel Machacado Sarmiento |
Regions active | |
# Branches | 5 |
Total Portfolio (nat'l) | COP 2,655,012,668 |
Total Portfolio (USD) | USD 1,458,798.17 |
Active clients with loans | 1,240 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 40% - 60% |
Network affiliations | |
Funders | EMPRESA COLOMBIANA DE PETROLEOS - ECOPETROL |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Linea Individual | COP 515,000 - 40,000,000 | 1 - 36 | 40% - 60% | 80% - 100% | Business, Capital de Trabajo, Compra de Activos | Women, Men, Have business, Codeudor con Finca Raiz, Codeudor asalariado o independiente | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training, Ruedas de Negocio | |||||||
Solidaria | COP 200,000 - 12,580,000 | 1 - 36 | 40% - 60% | 80% - 100% | Business, Capital de Trabajo, Compra de Activos | Women, Men, Have business, Have home or land, Codeudor con Finca Raiz, Codeudor asalariado o independiente | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training, Ruedas de Negocio |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Linea Individual | 24.0% annual, Decl Bal | 2 Fees | 1 Ins | None | N/A | 29% - 37.5% | 29.7% - 38.2% | 73 | ||||||||
Solidaria | 24.0% annual, Decl Bal | 2 Fees | 1 Ins | None | N/A | 30.5% - 40.3% | 31.2% - 41% | 69 |
Outstanding portfolio (ETB) | ETB 241,056,154 |
Portfolio (USD) | USD 13,100,877.93 |
Active Clients with Loans | 8,562 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 0% - 20% |
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 | |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | x |
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 | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | ETB |
Minimum loan size | ETB 5,001 |
Maximum loan size | 10,000,000 |
Shortest loan term | 12.0 months |
Longest loan term | 60.0 months |
Approx average | 24.0 months |
Grace period usage | 100% |
Average grace period | 4.0 months |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | x |
Every 12 months | x |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 10.00% |
Highest quoted nominal interest | 13.00% |
Reason(s) why interest rate varies | Due to loan term- 12 month is 10% plus 3% commission, and above 12 months is 13% but with no commission |
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 | Commission Fee |
% of loan amount - min | 0 |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Loans 12months or less charged 3%. No fee for loans over 12 months |
Appears on Repayment Sched? | No |
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 | ||
---|---|---|---|
Loan Amount | ETB 8,000 | ETB 15,000 | |
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | |
Disbursement Date | 2009-10-24 | 2011-08-25 | |
Loan Term (Months) | 36.0 months | 12.0 months | |
Grace Period (Months) | 0.0 months | 0.0 months | |
Total Cost of Credit | Not Known | Not Known | |
True Price by Comp | |||
Interest and Fee Component | 13.0% | 10.0% | |
Insurance Component | 0.0% | 0.0% | |
Tax Component | 0.0% | 0.0% | |
Deposit Component | 0.0% | 0.0% | |
Full APR (int fee ins tax dep) | 13.0% | 10.0% | |
Transparency Index | 77 | 100 | |
Original Repayment Schedule | |||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
% Products using declining balance | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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