Fondo de Desarrollo Microempresarial FODEMI - Crédito Grupo Solidario - MFTransparency.org Truth In Lending Tables

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Institution

Fondo de Desarrollo Microempresarial FODEMI Jaime Rivadeneira 6-88 y Mariano AcostaIbarra, Imbabura10-01-225

Data approved: 2010-11-08

Data version: 1

Age of data: 172 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (USD)	USD 7,419,168.45
Portfolio (USD)	USD 7,419,168.45
Active Clients with Loans	15,616
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	40% - 60%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Permite acceder a crédito a personas que no poseen garantías reales y/o personales a través de un grupo solidario que se garantizan entre ellos.

Loan Purpose

Any purpose
Income generation	x
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
Business training
Other training
Other	Estos servicios no son pagados por el cliente, los costos son asumidos ÂŽpor la Fundación.
Other (2)
No other services

Eligibility

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	Experiencia en el negocio, mínimo de 6 meses.
Other (2)	mín de 3 y máximo 6 personas. Que vivan cerca.

# 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 50
Maximum loan size	5,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	30.0 months
Approx average	11.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly	x
Every 2 weeks
Every 4 weeks
Monthly	x
Every 2 months
Quarterly	x
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	20.50%
Highest quoted nominal interest	22.50%
Reason(s) why interest rate varies	Loan Size, Client Risk
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

This product has no ongoing fees

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?
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	10.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	Final Pmt

Interest Paid on Deposit

Minimum interest rate paid	0
Maximum interest rate paid	0
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Crédito Grupo Solidario samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	USD 330	USD 1,100	USD 2,090	USD 3,850
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2010-05-21	2010-06-09	2010-05-06	2010-06-14
Loan Term (Months)	6.0 months	12.0 months	12.0 months	20.0 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	22.5%	22.5%	22.4%	20.5%
Insurance Component	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	4.0%	4.2%	4.1%	3.8%
Full APR (int fee ins tax dep)	26.5%	26.7%	26.6%	24.2%
Transparency Index	77	77	77	85

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

Crédito Grupo Solidario 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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