African Gate Financial Support - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 159 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

African Gate Financial Support Hse No.118/1 Bekwai Rd,near Old John Sarbah Rd, Market Circle,Takoradi, Western Region233

Data approved: 2011-12-07

Data version: 1

Age of data: 159 months

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Institution Details

Institution Type	Non Bank Financial Institution
Is this institution regulated?	Yes
Website address	http://www.africangatesupport.com/
Year established	2008
Head of Institution	Joris Eduamah
Regions active	Western Region
# Branches	2

Total Portfolio (nat'l)	GHS 93,619
Total Portfolio (USD)	USD 47,522.34
Active clients with loans	225
Approximate % female clients	60% - 80%
Approximate % urban clients	60% - 80%
Network affiliations
Funders	Neurotical Ideas Ltd

Loan Products » Summary

Group Loan

181 Borrowers

USD 17,766.50 Portfolio

Active Product

SME Loan

44 Borrowers

USD 29,441.62 Portfolio

Low Volume Product

Note: MFTransparency presents full data for active products with over 50 borrowers. Basic data is shown for lower volume products

Loan Products » Conditions

Product Name		Loan Size Range		Loan Term (months)		% Female		% Urban		Loan Purpose		Eligibility		Other Services
Group Loan		GHS 100 - 5,000		1 - 6		80% - 100%		40% - 60%		Business, Housing, Consumer, Education		Women, Men		Group Mtgs, Business Training

Loan Products » Pricing Information

Product Name		Annual Nominal Interest		Fees		Insurance		Taxes		Compulsory Deposit		APR (int+fee)		Full APR		Transparency Index
Group Loan		72.00%-88.20% annual, Flat		1 Fee		0		None		20.00%- upfront		168.1% - 207.8%		242.2% - 311.7%		25

Institution Price Graph

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Please note that the information you are viewing is 144 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Finance Savings and Credit Cooperative MUSCCO HouseLilongwePO Box 1292

Data approved: 2013-01-04

Data version: 2

Age of data: 144 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (MWK)	MWK 13,606,531.95
Portfolio (USD)	USD 34,888.54
Active Clients with Loans	800
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	20% - 40%

Methodology

Individual
Solidarity group
Village banking	x
Self help group
Other

Description

This is a group business loan targeting small and medium entrepreneurs in both rural and urban areas.

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	x
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	x
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	5
# Regions for this product	5
Regions Active	Lilongwe, Mchinji, Salima, Mzimba, Blantyre

Loan Conditions

Loan Amount

Currency	MWK
Minimum loan size	MWK 5,000
Maximum loan size	500,000

Distribution at Disbursement (Est.)

Loans less than MWK 50,000	90%
MWK 50,000-150,000	10%
MWK 150,000-250,000	0
MWK 250,000-350,000	0
MWK 350,000-450,000	0
Greater than MWK 450,000	0

Loan Term and Grace Period

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

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	10%
Between 7 and 9 months	10%
Between 10 and 12 months	80%
Between 13 and 18 months	0
Longer than 18 months	0

Grace Period

Grace period usage	0
Average grace period	DK

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	45.00%
Highest quoted nominal interest	45.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Processing Fee
% of loan amount - min	3.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Insurance Premium
% 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?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	33.33%
or, Fixed-amount deposited	N/A

Deposits DURING period payments

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

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Phindu (Group Business) samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	MWK 10,000	MWK 25,000	MWK 48,600	MWK 89,100	MWK 35,400	MWK 34,800
Loan Cycle (1, 2, 3, etc)	3	3	5	5	5	5
Disbursement Date	2013-01-07	2013-01-07	2012-10-23	2012-10-23	2012-10-23	2012-10-23
Loan Term (Months)	6.0 months	6.0 months	6.0 months	6.0 months	6.0 months	6.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	MWK 2,750	MWK 6,875	MWK 13,365	MWK 24,503	MWK 9,735	MWK 9,570
True Price by Comp
Interest price component	72.2%	72.2%	71.2%	71.2%	71.2%	71.2%
Fee Component	11.2%	11.2%	11.1%	11.1%	11.1%	11.1%
Insurance Component	7.7%	7.7%	7.5%	7.6%	7.5%	7.5%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	88.7%	88.7%	86.6%	86.5%	86.6%	86.6%
Full APR (int fee ins tax dep)	179.8%	179.8%	176.4%	176.4%	176.4%	176.4%
Transparency Index	25	25	26	26	26	26

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

Phindu (Group Business) 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
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
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Institution

Institution Details

Loan Products » Summary

Loan Products » Conditions

Loan Products » Pricing Information

Institution Price Graph

Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Phindu (Group Business) samples

Phindu (Group Business) Price Graphs

Total Borrowers of Samples

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