Wisdom Microfinance Institution S.Co - Business Loan - MFTransparency.org Truth In Lending Tables

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Institution

Wisdom Microfinance Institution S.Co Bole Sub CityAddis Ababa31478

Data approved: 2012-03-12

Data version: 1

Age of data: 155 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (ETB)	ETB 7,041,571
Portfolio (USD)	USD 382,694.08
Active Clients with Loans	5,095
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	60% - 80%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

This is mainly for entrepreneurs based in urban and some rural villages. To qualify for this loan, client need to be in business for at least 6 months. It is offered on group basis.

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
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
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 3,000
Maximum loan size	5,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	9.0 months

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	15.00%
Highest quoted nominal interest	15.00%
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	2.50%
% of loan amount - max	2.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation
Appears on Repayment Sched?	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Credit Life Insurance
% of loan amount - min	2.00%
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/a
Appears on Repayment Sched?	No

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?	Yes
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	Monthly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Business Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	ETB 3,000	ETB 3,000	ETB 3,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-11-08	2011-11-08	2011-11-08
Loan Term (Months)	8.0 months	8.0 months	8.0 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	33.2%	33.2%	33.2%
Insurance Component	5.9%	5.9%	5.9%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	8.2%	8.2%	8.2%
Full APR (int fee ins tax dep)	47.3%	47.3%	47.3%
Transparency Index	32	32	32

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

Business Loan 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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