Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | http://www.insotec-ec.com/ |
Year established | 1980 |
Head of Institution | José Lanusse |
Regions active | |
# Branches | 4 |
Total Portfolio (nat'l) | USD 6,252,818 |
Total Portfolio (USD) | USD 6,252,818 |
Active clients with loans | 7,244 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 40% - 60% |
Network affiliations | Red Financiera Rural |
Funders | SISTEMA NACIONAL MICROFINANZAS, SYMBIOTICS, TRIODOS, ETIMOS |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CrediAgro | USD 300 - 10,000 | 4 - 30 | 40% - 60% | 0% - 20% | Business, Mejora Local | Women, Men, Have business | Credit Ins | |||||||
CrediSimple | USD 300 - 10,000 | 4 - 30 | 40% - 60% | 60% - 80% | Business, Solo para capital de Trabajo, Activo Fijo,Mejora Local | Women, Men, Have business | Credit Ins | |||||||
Emergente | USD 250 - 1,800 | 3 - 5 | 20% - 40% | 0% - 20% | Business, Other, Usar solo para capital de trabajo | Women, Men, Have business, Have home or land | Credit Ins | |||||||
SINCO | USD 300 - 1,000 | 3 - 8 | 40% - 60% | 20% - 40% | Business, Usar solo para capital de trabajo | Women, Men, Have business, Have home or land, Propietario de Terreno | Credit Ins |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CrediAgro | 22.3%-26.9% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 24.8% - 27.3% | 28% - 30.5% | 75 | ||||||||
CrediSimple | 24.5%-29.9% annual, Decl Bal | 0 Fees | 1 Ins | None | N/A | 24.8% - 27.3% | 28.1% - 30.4% | 83 | ||||||||
Emergente | 24.5%-26.9% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 27.2% - 27.3% | 30% - 30.3% | 81 | ||||||||
SINCO | 24.5%-26.9% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 27.2% - 27.3% | 30.3% - 30.4% | 80 |
Outstanding portfolio (GHS) | GHS 108,804 |
Portfolio (USD) | USD 55,230.46 |
Active Clients with Loans | 4,430 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Any purpose | |
Income generation | x |
Mortgage/housing | x |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | Health clinic |
Other (2) | corn milling business |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | x |
Business training | x |
Other training | |
Other | |
Other (2) | |
No other services |
Men | x |
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) |
Currency | GHS |
Minimum loan size | GHS 450 |
Maximum loan size | GHS 500 |
Shortest loan term | 6.0 months |
Longest loan term | 6.0 months |
Approx average | 6.0 months |
Grace period usage | 100% |
Average grace period | 1.0 month |
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 | 40.00% |
Highest quoted nominal interest | 40.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Membership fee |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 5 |
Fixed amount - max | 11 |
Reason for variation | |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? |
% loan amount deposited | 0 |
or, Fixed-amount deposited | GHS 100 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 500 | GHS 500 | GHS 500 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2010-12-24 | 2011-01-21 | 2010-12-24 | ||
Loan Term (Months) | 10.3 months | 10.3 months | 11.2 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 | 67.1% | 67.1% | 61.0% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 29.2% | 29.2% | 25.8% | ||
Full APR (int fee ins tax dep) | 96.3% | 96.3% | 86.8% | ||
Transparency Index | 42 | 42 | 46 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Key Statistics | |
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# 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 |
Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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