Outstanding portfolio (COP) | COP 1,800,000,000 |
Portfolio (USD) | USD 989,010.99 |
Active Clients with Loans | 1,400 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 60% - 80% |
Individual | x |
Solidarity group | x |
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 | |
Credit insurance | x |
Workplace visits | x |
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 | |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | COP |
Minimum loan size | COP 300,000 |
Maximum loan size | 7,000,000 |
Shortest loan term | 3.0 months |
Longest loan term | 36.0 months |
Approx average | 18.0 months |
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 | 1.70% |
Highest quoted nominal interest | 1.70% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Trámite Mipyme |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Ins 1 | Ins 2 | ||
---|---|---|---|
Description | Fondo Garantia de Beneficiario | SEGURO DE CREDITO SE COBRA $ 5,000 PORMILLON POR AÃO | |
% of loan amount - min | 0 | 0.50% | |
% of loan amount - max | 0 | 0.50% | |
OR, Fixed amount - min | 8,000 | 0 | |
Fixed amount - max | 30,000 | 0 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Seguros y Fondo de Solidaridad |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 1,000 |
Fixed amount - max | 3,000 |
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 1,600,000 | COP 3,500,000 | COP 5,800,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2011-05-13 | 2011-05-13 | 2011-06-01 | ||
Loan Term (Months) | 12.0 months | 30.0 months | 30.0 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 | 23.8% | 20.5% | 20.5% | ||
Insurance Component | 3.2% | 2.0% | 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) | 27.0% | 22.6% | 21.8% | ||
Transparency Index | 76 | 90 | 94 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.meanwoodfinance.co.zm/ |
Year established | 2005 |
Head of Institution | Daka Timothy |
Regions active | |
# Branches | 0 |
Total Portfolio (nat'l) | ZMK 9,000,000,000 |
Total Portfolio (USD) | USD 1,739,130.44 |
Active clients with loans | 4,889 |
Approximate % female clients | 20% - 40% |
Approximate % urban clients | 80% - 100% |
Network affiliations | AMIZ |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loans | ZMK 5,000,000 - 1,100,000,000 | 1 - 6 | 20% - 40% | 80% - 100% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins | |||||||
Group Loans | ZMK 500,000 - 10,000,000 | 3 - 6 | 60% - 80% | 80% - 100% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Other Training | |||||||
Personal Loans | ZMK 500,000 - 20,000,000 | 1 - 3 | 40% - 60% | 80% - 100% | Any Purpose | Women, Men, Salaried worker | Credit Educ, Group Mtgs, Credit Ins | |||||||
Salary Advance | ZMK 100,000 - 5,000,000 | 1 | 40% - 60% | 80% - 100% | Education, Other | Women, Men, Salaried worker | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Other Training | |||||||
Scheme Loans | ZMK 500,000 - 50,000,000 | 1 - 12 | 40% - 60% | 80% - 100% | Any Purpose | Women, Men, Salaried worker | Credit Educ, Group Mtgs, Credit Ins |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loans | 96.0%-120.0% annual, Flat | 2 Fees | 0 Ins | None | N/A | 224.9% - 233.5% | 224.9% - 233.5% | 42 | ||||||||
Group Loans | 72.0%-96.0% annual, Flat | 0 Fees | 0 Ins | None | 10.0% upfront | 108.1% - 139.4% | 126.6% - 161.7% | 49 | ||||||||
Personal Loans | 120.0%-144.0% annual, Flat | 1 Fee | 0 Ins | None | 10.0% upfront | 217.9% - 229.5% | 252% - 265.7% | 46 | ||||||||
Salary Advance | 276.0% annual, Flat | 0 Fees | 0 Ins | None | N/A | 270.3% - 280.2% | 270.3% - 280.2% | 100 | ||||||||
Scheme Loans | 60.0%-96.0% annual, Flat | 0 Fees | 0 Ins | None | N/A | 77.6% - 146.2% | 77.6% - 146.2% | 58 |
Key Statistics | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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