Buusaa Gonofaa MFI - General Purpose Loan - Homa Homa - Variable - MFTransparency.org Truth In Lending Tables

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Institution

Buusaa Gonofaa MFI Debrezeit RoadKirkos SubcityAddis AbabaPO Box 24850

Data approved: 2011-12-23

Data version: 1

Age of data: 158 months

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Product

General Purpose Loan - Homa Homa - Variable Product 4 of 4 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (ETB)	ETB 8,000,000
Portfolio (USD)	USD 434,782.61
Active Clients with Loans	5,000
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

This is an agriculture / business loan paid in two stages to match harvest seasons. 30% of the loan is paid in the first half of the loan term and 70% at the end of the loan. There are interest payment grace periods during the rainy season.

Loan Purpose

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

Included Services

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

Eligibility

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)

# 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	ETB
Minimum loan size	ETB 200
Maximum loan size	5,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	10.0 months

Grace Period

Grace period usage	100%
Average grace period	dk

Repayment Frequency

Daily
Weekly
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	24.00%
Highest quoted nominal interest	24.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Service Charge
% of loan amount - min	0.50%
% of loan amount - max	0.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	No

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% - N/A
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	ETB 10 - N/A
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	5.00%
Maximum interest rate paid	5.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

General Purpose Loan - Homa Homa - Variable samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	ETB 600	ETB 1,000	ETB 1,500	ETB 2,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-05-18	2011-05-18	2011-05-18	2011-05-18
Loan Term (Months)	11.2 months	11.2 months	11.2 months	11.2 months
Grace Period (Months)	15.0 months	15.0 months	14.0 months	15.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	36.6%	35.4%	39.3%	35.4%
Insurance Component	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	8.7%	6.5%	7.6%	6.4%
Full APR (int fee ins tax dep)	45.4%	41.8%	46.9%	41.7%
Transparency Index	53	57	51	58

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

General Purpose Loan - Homa Homa - Variable 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

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