Institution Type | Credit Union / Cooperative |
Is this institution regulated? | No |
Website address | N/A |
Year established | 2008 |
Head of Institution | Luis Aníbal Tatés Fernández |
Regions active | Carchi |
# Branches | 2 |
Total Portfolio (nat'l) | USD 908,092.58 |
Total Portfolio (USD) | USD 908,092.58 |
Active clients with loans | 727 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 0% - 20% |
Network affiliations | Red Financiera Rural, Unión Católica de Apoyo al Desarrollo |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Crédito EDàCATE | USD 100 - 3,030 | 6 - 30 | 80% - 100% | 60% - 80% | Consumer, Education | Women, Men, Salaried worker, Estudiantes con relación de dependencia. | N/A | |||||||
Crédito PRODUCIR | USD 200 - 3,030 | 4 - 36 | 60% - 80% | 0% - 20% | Business | Women, Men, Have business | Credit Educ, Tech Asst Visits, Business Training, Other Training, Formación y capacitación en diversos temas |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Crédito EDàCATE | 15.2% annual, Decl Bal | 0 Fees | 1 Ins | None | N/A | 15.7% - 16.2% | 16.7% - 17.2% | 89 | ||||||||
Crédito PRODUCIR | 18.8% annual, Decl Bal | 0 Fees | 1 Ins | None | 12.5% upfront | 18.8% - 20% | 22.3% - 26.4% | 76 |
Outstanding portfolio (KES) | KES 27,415,078 |
Portfolio (USD) | USD 331,099.98 |
Active Clients with Loans | 1,362 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
Individual | |
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 | x |
Credit insurance | x |
Workplace visits | |
Business training | x |
Other training | x |
Other | |
Other (2) | |
No other services |
Men | |
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 | 4 |
# Regions for this product | 4 |
Regions Active | Central, Eastern, Nairobi, Rift Valley |
Currency | KES |
Minimum loan size | KES 10,000 |
Maximum loan size | 200,000 |
Loans less than KES 50,000 | 80% |
KES 50,000-150,000 | 20% |
KES 150,000-250,000 | 0 |
KES 250,000-350,000 | 0 |
KES 350,000-450,000 | 0 |
Greater than KES 450,000 | 0 |
Shortest loan term | 6.0 months |
Longest loan term | 12.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 30% |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 50% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 30% |
Average grace period | 0.3 months |
Daily | |
Weekly | x |
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 | 8.00% |
Highest quoted nominal interest | 8.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Application Fee |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 2.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 15.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | KES 100 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 0.33% |
Maximum interest rate paid | 0.50% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | KES 10,000 | KES 20,000 | KES 50,000 | KES 100,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-07-30 | 2013-07-31 | 2013-06-17 | 2013-01-27 | |||
Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | 12.0 months | |||
Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | 0.0 months | |||
Total Cost of Credit | KES 900 | KES 1,800 | KES 4,500 | KES 13,000 | |||
True Price by Comp | |||||||
Interest price component | 13.7% | 13.7% | 13.7% | 14.4% | |||
Fee Component | 10.7% | 10.7% | 10.7% | 5.8% | |||
Insurance Component | 7.4% | 7.4% | 7.4% | 4.0% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 25.6% | 17.7% | 13.8% | 9.1% | |||
Full APR (int fee ins tax dep) | 57.4% | 49.5% | 45.6% | 33.3% | |||
Transparency Index | 14 | 16 | 18 | 24 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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