Please note that the information you are viewing is
141 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2013-02-20
Data version: 2
Age of data: 141 months
Key Statistics
| Outstanding portfolio (GHS) | GHS 765,867 |
| Portfolio (USD) | USD 388,764.97 |
| Active Clients with Loans | 3,170 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Group loan designed for micro-entrepreneurs whose businesses generate daily to monthlycash flows.
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 | x |
| 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 | |
| Must be specific age group | x |
| Other | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Central Region |
Loan Conditions
Loan Amount
| Currency | GHS |
| Minimum loan size | GHS 2,000 |
| Maximum loan size | 14,000 |
Distribution at Disbursement (Est.)
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 40% |
| GHS 5,000-7,500 | 20% |
| GHS 7,500-10,000 | 20% |
| GHS 10,000-13,000 | 15% |
| Greater than GHS 13,000 | 15% |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
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 | 44.00% |
| Highest quoted nominal interest | 44.00% |
| Reason(s) why interest rate varies | N/A |
| 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 | | Fee 2 |
|---|
| Description | Loan Processing Fee | | Application Form Fee |
| % of loan amount - min | 3.00% | | 0 |
| % of loan amount - max | 3.00% | | 0 |
| OR, Fixed amount - min | 0 | | 2 |
| Fixed amount - max | 0 | | 2 |
| Reason for variation | N/A | | N/A |
| Appears on Repayment Sched? | Yes | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Insurance Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | N/A |
| 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 | N/A |
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 |
Additional Comments
The one fee not appearing on the loan documentation - application form fee - is communicated to clients through a training module before they make their credit decision.
Full Pricing Data
Six Months Group Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | GHS 3,000 | | GHS 6,500 | | GHS 8,000 | | GHS 12,000 |
| Loan Cycle (1, 2, 3, etc) | 6 | | 1 | | 5 | | 2 |
| Disbursement Date | 2012-10-12 | | 2012-12-05 | | 2012-11-22 | | 2012-12-12 |
| Loan Term (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 |
| Total Cost of Credit | GHS 782 | | GHS 1,692 | | GHS 2,082 | | GHS 3,122 |
| True Price by Comp | | | | | | | |
| Interest price component | 70.9% | | 70.9% | | 70.9% | | 70.9% |
| Fee Component | 11.5% | | 11.3% | | 11.3% | | 11.3% |
| Insurance Component | 3.8% | | 3.9% | | 3.8% | | 3.8% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 86.2% | | 86.1% | | 86.0% | | 86.0% |
| Transparency Index | 51 | | 51 | | 51 | | 51 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Six Months Group Loan Price Graphs
