Institution Type | Non-Governmental Organization |
Is this institution regulated? | Yes |
Website address | http://www.asp-i.org/asp-i/ |
Year established | 2003 |
Head of Institution | Moses O.T Owharo |
Regions active | Greater Accra Region, Volta Region |
# Branches | 0 |
Total Portfolio (nat'l) | GHS 174,550 |
Total Portfolio (USD) | USD 88,604.06 |
Active clients with loans | 845 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 40% - 60% |
Network affiliations | GHAMFIN, ASSFIN, Coalition of NGOs in Health, Microcredit summit campaign, USA |
Funders | USAID, UBA, Zenith Bank, Ghana Commercial Bank |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agriculture Loan | GHS 400 - 15,000 | 4 - 24 | 40% - 60% | 0% - 20% | Business, Used for agricultural purposes | Women, Men, Have business, Must own a farm or animals, fish, etc. | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training, Other Training, Health Education, Technology Management | |||||||
Individual Loan | GHS 100 - 3,000 | 3 - 12 | 60% - 80% | 40% - 60% | Business, Consumer, Education | Women, Men, Have business, Salaried worker, Must provide a guarantor | Credit Educ, Tech Asst Visits, Business Training, Health Education | |||||||
SME Loan | GHS 1,500 - 5,000 | 4 - 8 | 80% - 100% | 60% - 80% | Business | Women, Men, Have business, Must be a graduate from a small group loan, Must provide guarantor | Credit Educ, Tech Asst Visits, Business Training | |||||||
Petty Traders Loan (PTL) | GHS 50 - 2,000 | 3 - 12 | 80% - 100% | 40% - 60% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Business Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agriculture Loan | 48.00% annual, Flat | 1 Fee | 0 Ins | None | 15.00%-30.00% upfront | 93% - 112.1% | 137.1% - 163.9% | 32 | ||||||||
Individual Loan | 48.00% annual, Flat | 1 Fee | 0 Ins | None | 20.00% upfront | 118.9% - 159.8% | 174.6% - 205.5% | 25 | ||||||||
SME Loan | 48.00% annual, Flat | 1 Fee | 0 Ins | None | 15.00%-20.00% upfront | 107.9% - 136% | 157.9% - 182.6% | 28 | ||||||||
Petty Traders Loan (PTL) | 48.00% annual, Flat | 1 Fee | 0 Ins | None | 20.00% upfront | 118.9% - 125.8% | 174.6% - 183.6% | 26 |
Outstanding portfolio (KES) | KES 15,968,913.11 |
Portfolio (USD) | USD 192,861.27 |
Active Clients with Loans | 219 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | x |
Other | Fire/Burglary Insurance |
Other (2) | |
No other services |
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 | Must have run a business for at least 24 months |
Other (2) |
# Regions for this institution | 4 |
# Regions for this product | 4 |
Regions Active | Nairobi, Nyanza, Rift Valley, Western |
Currency | KES |
Minimum loan size | KES 50,000 |
Maximum loan size | 500,000 |
Loans less than KES 50,000 | 15% |
KES 50,000-150,000 | 50% |
KES 150,000-250,000 | 20% |
KES 250,000-350,000 | 10% |
KES 350,000-450,000 | 5% |
Greater than KES 450,000 | 5% |
Shortest loan term | 6.0 months |
Longest loan term | 36.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 15% |
Between 7 and 9 months | 5% |
Between 10 and 12 months | 70% |
Between 13 and 18 months | 10% |
Longer than 18 months | 0 |
Grace period usage | 10% |
Average grace period | DK |
Daily | |
Weekly | x |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 22.00% |
Highest quoted nominal interest | 22.00% |
Reason(s) why interest rate varies | Branch, Time as Client |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Loan Application Fee | Chattels Fee | |
% of loan amount - min | 0 | 0 | |
% of loan amount - max | 2.00% | 0 | |
OR, Fixed amount - min | 1,000 | 1,300 | |
Fixed amount - max | 0 | 1,300 | |
Reason for variation | 2% with KES 1000 minimum | Charged on all loans | |
Appears on Repayment Sched? | Yes | Yes |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 1.60% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | <12 month =1.6%, 13-24 months=1.75%, 25+ months=3%. Either upfront or continuing. |
Appears on Repayment Sched? | Yes |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 25.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | KES 200 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 1.00% |
Maximum interest rate paid | 1.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 50,000 | KES 100,000 | KES 185,000 | KES 295,000 | KES 400,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-05-27 | 2013-05-15 | 2013-05-29 | 2013-05-03 | 2013-04-30 | ||||
Loan Term (Months) | 12.0 months | 12.0 months | 18.0 months | 24.0 months | 24.0 months | ||||
Grace Period (Months) | 0.2 months | 0.7 months | 0.7 months | 0.5 months | 0.5 months | ||||
Total Cost of Credit | KES 14,069.86 | KES 28,759.73 | KES 70,198 | KES 141,364.38 | KES 191,217.81 | ||||
True Price by Comp | |||||||||
Interest price component | 39.5% | 41.0% | 38.4% | 37.3% | 37.3% | ||||
Fee Component | 9.8% | 6.7% | 3.8% | 2.7% | 2.6% | ||||
Insurance Component | 3.5% | 3.3% | 1.8% | 1.8% | 1.8% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 59.7% | 41.6% | 32.0% | 26.4% | 25.8% | ||||
Full APR (int fee ins tax dep) | 112.5% | 92.6% | 76.0% | 68.2% | 67.5% | ||||
Transparency Index | 20 | 24 | 29 | 32 | 33 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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