| 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 | |
|---|---|
| # 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 |
|---|---|---|---|---|---|---|---|
