| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | No |
| Website address | N/A |
| Year established | 2004 |
| Head of Institution | Alejandro Macas |
| Regions active | |
| # Branches | 1 |
| Total Portfolio (nat'l) | USD 705,025.49 |
| Total Portfolio (USD) | USD 705,025.49 |
| Active clients with loans | 2,200 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 40% - 60% |
| Network affiliations | |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Microcrédito (mensual) | USD 200 - 2,000 | 3 - 24 | 80% - 100% | 40% - 60% | Any Purpose | Women | Group Mtgs, Credit Ins | |||||||
| Microcrédito (semanal) | USD 200 - 2,000 | 3 - 24 | 80% - 100% | 40% - 60% | Any Purpose | Women | Group Mtgs, Credit Ins |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Microcrédito (mensual) | 21.0% annual, Decl Bal | 0 Fees | 1 Ins | None | 7.0% upfront 4.00 ongoing | 20.8% - 21% | 26% - 28.9% | 77 | ||||||||
| Microcrédito (semanal) | 21.0% annual, Decl Bal | 0 Fees | 1 Ins | None | 7.0% upfront 1.00 ongoing | 22.7% - 22.8% | 28.5% - 33% | 69 |
| Outstanding portfolio (USD) | USD 498,530.23 |
| Portfolio (USD) | USD 498,530.23 |
| Active Clients with Loans | 205 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | x |
| 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 |
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | x |
| 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 | USD |
| Minimum loan size | USD 2,001 |
| Maximum loan size | 30,000 |
| Shortest loan term | 3.0 months |
| Longest loan term | 24.0 months |
| Approx average | 18.0 months |
| Grace period usage | 30% |
| 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 | 40.80% |
| Highest quoted nominal interest | 40.80% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | N/A |
| Is rate fixed for entire loan term | N/A |
| Fee 1 | |
|---|---|
| Description | |
| % of loan amount - min | 2.50% |
| % of loan amount - max | 2.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| 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 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | USD 2,500 | USD 4,000 | USD 9,000 | USD 10,000 | USD 15,000 | ||||
| Loan Cycle (1, 2, 3, etc) | 3 | 2 | 2 | 1 | 3 | ||||
| Disbursement Date | 2009-12-16 | 2009-12-30 | 2009-12-30 | 2009-12-30 | 2009-12-18 | ||||
| Loan Term (Months) | 24.0 months | 18.0 months | 18.0 months | 12.0 months | 18.0 months | ||||
| Grace Period (Months) | 0.0 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 | Not Known | ||||
| True Price by Comp | |||||||||
| Interest and Fee Component | 44.3% | 45.1% | 45.0% | 46.5% | 45.0% | ||||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Full APR (int fee ins tax dep) | 44.3% | 45.1% | 45.0% | 46.5% | 45.0% | ||||
| Transparency Index | 92 | 91 | 91 | 88 | 91 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
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| # 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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