ASSOCIATION OF PROGRESSIVE ENTREPRENEURS IN DEVELOPMENT - Farmer Loan - MFTransparency.org Truth In Lending Tables

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Institution

ASSOCIATION OF PROGRESSIVE ENTREPRENEURS IN DEVELOPMENT P.O. BOX CT 78 PMBACCRA, Greater Accra233

Data approved: 2011-12-07

Data version: 1

Age of data: - months

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Product

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Product Details

Key Statistics

Outstanding portfolio (GHS)	GHS 231,433
Portfolio (USD)	USD 154,289
Active Clients with Loans	1,747
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group
Village banking
Self help group
Other

Description

THIS IS LOANS GIVEN TO SMALL AND MEDIUM HOLDING FARMERS FOR THE CULTIVATION AND MANAGEMENT OF AGRO AND LIVESTOCK FARMING.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other	MUST BE RESIDENT IN THE COMMUNITY WE OPERATE FOR NOT LESS THAN A YEAR
Other (2)	FARMING ACTIVITIES SHOULD NOT BE DETRIMENTAL TO THE ENVIRONMENT AND HUMAN HEALTH
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	MUST BE RESIDENT IN THE COMMUNITY WE OPERATE FOR NOT LESS THAN A YEAR
Other (2)	FARMING ACTIVITIES SHOULD NOT BE DETRIMENTAL TO THE ENVIRONMENT AND HUMAN HEALTH

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	GHS
Minimum loan size	GHS 200
Maximum loan size	7,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	8.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	N/A
Between 4 and 6 months	N/A
Between 7 and 9 months	N/A
Between 10 and 12 months	N/A
Between 13 and 18 months	N/A
Longer than 18 months	N/A

Grace Period

Grace period usage	100%
Average grace period	5.0 months

Repayment Frequency

Daily
Weekly
Every 2 weeks	x
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	3.00%
Highest quoted nominal interest	4.00%
Interest rate period	4 Weeks
Interest Rate Calculation Method	Flat
Subsidized by funder request?	N/A
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	LOAN PROCESSING FEE	APPLICATION AND PASS BOOK FEES
% 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
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

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?
Do borrowers control deposit in their group?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	15.00% - N/A
or, Fixed-amount deposited	0 - N/A

Deposits DURING period payments

% loan amount deposited	10.00% - N/A
or, Fixed-amount deposited	0 - N/A
Conditions on access to deposit

Interest Paid on Deposit

Minimum interest rate paid	0
Maximum interest rate paid	0
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

CLIENTS ARE MADE TO DEPOSIT INTO THEIR OWN SAVINGS ACCOUNT WHICH IS HELD IN A COMMERCIAL , BUT NOT WITH THE INSTITUTION. HOWEVER THEY CANNOT ACCESS THIS ACCOUNT WHILE REPAYMENT IS ONGOING TILL LOAN IS FULLY PAID OR CYCLE IS ENDED. Client continue to save up to 1% of the principal during repayments

Full Pricing Data

Farmer Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	GHS 760	GHS 1,600	GHS 2,300	GHS 5,600
Loan Cycle (1, 2, 3, etc)	4	4	3	4
Disbursement Date	2012-09-28	2012-08-27	2012-06-08	2012-09-28
Loan Term (Months)	5.6 months	5.6 months	7.5 months	5.6 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	46.5%	47.2%	50.6%	45.2%
Insurance Component	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	9.5%	8.7%	9.6%	9.2%
Full APR (int fee ins tax dep)	55.9%	55.9%	60.1%	54.3%
Transparency Index	70	70	65	72

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

Farmer Loan Price Graphs

Loan Size/

Loan Term/

Custom

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
Action	0	0	0	146
Adok Timo	4,200	570,000	4	177
BIMAS	11,100	4,679,000	7	146
ECLOF Kenya	20,500	5,455,000	8	146
Equity Bank	135,500	94,746,000	9	146
Family Bank	43,200	90,700,000	5	177
Jamii Bora	2,400	3,374,000	4	146
Juhudi Kilimo	10,400	4,436,000	2	146
KADET	12,900	5,402,000	4	146
K-Rep	0	0	0	146
K-Rep Bank	65,000	28,743,000	4	177
KWFT DTM	294,600	165,982,000	6	146
LKL	13,100	9,311,000	10	138
MKL	18,200	5,989,000	6	122
Opportunity Kenya	9,100	4,866,000	5	146
PAWDEP	40,900	7,133,000	2	146
RAFODE	2,900	356,000	1	146
SISDO	7,300	3,657,000	11	146
Yehu	14,000	3,149,000	11	146

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

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Total Borrrowers of Samples


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