Cooperativa de Ahorra y Credito Cooprogreso - MICM - MFTransparency.org Truth In Lending Tables

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Institution

Cooperativa de Ahorra y Credito Cooprogreso Av. Manuel Córdova Galarza 9380 y Bogotá PomasquiQuito, Pichincha593

Data approved: 2010-11-22

Data version: 1

Age of data: 171 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (USD)	USD 638,600
Portfolio (USD)	USD 638,600
Active Clients with Loans	5,400
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	20% - 40%

Methodology

Individual
Solidarity group
Village banking	x
Self help group
Other

Description

Para capital de operaciones de inversión en pequeña escala destinados a la producción, comercialización o servicios

Loan Purpose

Any purpose	x
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits	x
Business training
Other training
Other
Other (2)
No other services

Eligibility

Men
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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	USD
Minimum loan size	USD 200
Maximum loan size	20,000

Loan Term and Grace Period

Shortest loan term	8.0 months
Longest loan term	10.0 months
Approx average	0

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	25.70%
Highest quoted nominal interest	25.70%
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?
Is rate fixed for entire loan term	Yes

Upfront Fees

This product has no upfront fees

Ongoing Fees

	Fee 1
Description	Seguro de Desgravamen
% of loan amount - min	1.20%
% of loan amount - max	1.20%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	Yes

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	Yes
Do borrowers control deposit in their group?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	3.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	2.00%
Maximum interest rate paid	3.00%
Interest payment frequency	Monthly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

MICM samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	USD 3,500	USD 3,800	USD 4,000	USD 4,300
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2010-09-10	2010-08-26	2010-09-08	2010-08-31
Loan Term (Months)	7.0 months	8.0 months	7.0 months	6.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	29.6%	29.6%	26.1%	26.1%
Insurance Component	-1.3%	3.0%	2.3%	3.0%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	5.3%	-3.4%	0.8%	0.8%
Full APR (int fee ins tax dep)	33.7%	29.2%	29.2%	29.9%
Transparency Index	76	88	88	86

Original Repayment Schedule	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF

MICM Price Graphs

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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

	X Axis
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N (# of Samples)
Total Borrrowers of Samples


Avg
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By Country

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