Institution Type | Non-Governmental Organization |
Is this institution regulated? | Yes |
Website address | http://www.asa-international.com/ |
Year established | 2007 |
Head of Institution | MD. Aourongjeb |
Regions active | Greater Accra Region, Central Region, Western Region, Ashanti Region |
# Branches | 54 |
Total Portfolio (nat'l) | GHS 36,218,600 |
Total Portfolio (USD) | USD 18,962,617.80 |
Active clients with loans | 71,633 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 80% - 100% |
Network affiliations | GHAMFIN |
Funders | Catalyst Microfinance Industries, ASA International |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | GHS 500 - 2,000 | 6 - 12 | 80% - 100% | 60% - 80% | Business | Women, Have business, Must have a business plan | Credit Educ, Group Mtgs, Credit Ins | |||||||
Small Loan | GHS 300 - 1,000 | 6 - 12 | 80% - 100% | 80% - 100% | Business | Women, Have business | Credit Educ, Group Mtgs, Credit Ins |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | 36.00% annual, Flat | 1 Fee | 1 Ins | None | 10.00% upfront | 60.5% - 69.3% | 73.9% - 85% | 46 | ||||||||
Small Loan | 36.00% annual, Flat | 1 Fee | 1 Ins | None | 10.00% upfront | 64.2% - 68.7% | 81.5% - 87.5% | 42 |
Outstanding portfolio (KES) | KES 43,259,200 |
Portfolio (USD) | USD 522,454.11 |
Active Clients with Loans | 1,142 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
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 | x |
Other training | |
Other | |
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 | |
Other (2) |
# Regions for this institution | 7 |
# Regions for this product | 7 |
Regions Active | Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western |
Currency | KES |
Minimum loan size | KES 5,000 |
Maximum loan size | 100,000 |
Loans less than KES 50,000 | 10% |
KES 50,000-150,000 | 90% |
KES 150,000-250,000 | 0 |
KES 250,000-350,000 | 0 |
KES 350,000-450,000 | 0 |
Greater than KES 450,000 | 0 |
Shortest loan term | 12.0 months |
Longest loan term | 12.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 100% |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
Every 2 weeks | |
Every 4 weeks | |
Monthly | |
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% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Chattels 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? | No |
Ins 1 | |
---|---|
Description | Credit/Life 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? | No |
Required for | All |
Criteria | Upfront compulsory deposit rule: 1st cycle loans = 50% requirement. Multiple cycle loans = 30% requirement. |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 30.00% - 50.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | KES 13,500 | KES 23,000 | KES 47,000 | KES 98,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2013-05-06 | 2013-06-18 | 2013-04-30 | 2013-05-29 | |||
Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | 12.0 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | KES 3,125.80 | KES 5,325.40 | KES 10,882.35 | KES 22,690.80 | |||
True Price by Comp | |||||||
Interest price component | 40.5% | 40.5% | 40.5% | 40.5% | |||
Fee Component | 2.3% | 2.2% | 2.2% | 2.2% | |||
Insurance Component | 2.2% | 2.3% | 2.3% | 2.3% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 44.2% | 44.2% | 44.2% | 44.2% | |||
Full APR (int fee ins tax dep) | 89.2% | 89.2% | 89.2% | 89.2% | |||
Transparency Index | 25 | 25 | 25 | 25 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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