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Institution
Data approved: 2013-02-20
Data version: 2
Age of data: 137 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