Boabab Microfinance Company Ltd - Business Support Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Please note that the information you are viewing is 144 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Boabab Microfinance Company Ltd Head OfficeZogbeliTamale, NorthernP.O. Box E/R 550

Data approved: 2013-03-08

Data version: 2

Age of data: 139 months

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Institution

Uganda Finance Trust Plot 121&115, Block 6KatweKampala, Central UgandaPO Box 6972

Data approved: 2012-10-16

Data version: 2

Age of data: 144 months

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Product

Business Support Loan Product 1 of 3 « Prev | Next »

Product

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Product Summary

Number borrowers	61
Loan Amount (range)	GHS 1,000 - 30,000
Loan Term (range)	1 - 3
Other Services (text summary)	Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training
Annual Interest & Method	60.00% annual, Flat
Fees	3.00% upfront
Insurance	None
Tax	None
Comp Dep	10.00% upfront
Range of pricing
Interest Price Component	63.1% - 91.9%
Fee Component	0 - 19.1%
Insurance Component	0
Tax Component Range	0
Full APR (int fee ins tax dep)	101.7% - 126.1%
Transparency Index (min/max)	48 - 59
Transparency Index (average)	52

Product Summary

1,440
UGX 100,000 - 10,000,000
3 - 24
Credit Educ, Credit Ins
27.00% annual, Flat
3 fees
1.00%-1.50% upfront
None
N/A

40.5% - 57.5%
7.3% - 32.1%
1.7% - 5.3%
0
52.5% - 77.4%
23 - 51
45

Product Details

Key Statistics

Outstanding portfolio (GHS)	GHS 330,000
Portfolio (USD)	USD 167,512.69
Active Clients with Loans	61
Approximate % Female Clients	0% - 20%
Approximate % Urban Clients	80% - 100%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Designed for individuals with businesses.

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	x
Must be a salaried worker
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	1
# Regions for this product	1
Regions Active	Northern Region

Product Details

Key Statistics

Outstanding portfolio (UGX)	UGX 1,619,171,052
Portfolio (USD)	USD 647,668
Active Clients with Loans	1,440
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group	x
Village banking
Self help group
Other

Description

Gives salaried people ability and flexibility to meet their financial obligations while paying back in monthly manageable installments.

Loan Purpose

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

Included Services

Credit education	x
Group meetings
Credit insurance	x
Workplace visits
Business training
Other training
Other
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business
Must own a home or land
Must be a salaried worker	x
Must be specific age group	x
Other	Age 18 and above
Other (2)	Must open a savings salary account at Finance Trust

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	4
# Regions for this product	4
Regions Active	Central, Eastern, Northern, Western

Loan Conditions

Loan Amount

Currency	GHS
Minimum loan size	GHS 1,000
Maximum loan size	30,000

Distribution at Disbursement (Est.)

Loans less than GHS 1,000	10%
GHS 1,000-5,000	30%
GHS 5,000-7,500	20%
GHS 7,500-10,000	15%
GHS 10,000-13,000	15%
Greater than GHS 13,000	15%

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	3.0 months
Approx average	3.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	100%
Between 4 and 6 months	0
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

Loan Conditions

Loan Amount

Currency	UGX
Minimum loan size	UGX 100,000
Maximum loan size	10,000,000

Distribution at Disbursement (Est.)

Loans less than UGX 1,000,000	20%
UGX 1,000,000-5,000,000	20%
UGX 5,000,000-7,500,000	20%
UGX 7,500,000-10,000,000	20%
UGX 10,000,000-13,000,000	20%
Greater than UGX 13,000,000	20%

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	24.0 months
Approx average	24.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	5%
Between 7 and 9 months	5%
Between 10 and 12 months	10%
Between 13 and 18 months	5%
Longer than 18 months	75%

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	5.00%
Highest quoted nominal interest	5.00%
Interest rate period	Monthly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Processing Fee
% of loan amount - min	3.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	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?	No
Do borrowers control deposit in their group?	No

Deposit BEFORE or AT Disbursement

% loan amount deposited	10.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	End Term

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?

Pricing Information

Interest

Lowest quoted nominal interest	27.00%
Highest quoted nominal interest	27.00%
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 Commission	Loan Processing Fee
% of loan amount - min	2.00%	2.00%
% of loan amount - max	2.00%	2.00%
OR, Fixed amount - min	0	0
Fixed amount - max	0	0
Reason for variation	n/a	n/a
Appears on Repayment Sched?	No	No

Ongoing Fees

	Fee 1
Description	Monitoring Fee
% of loan amount - min	0.20%
% of loan amount - max	0
OR, Fixed amount - min	0
Fixed amount - max	5,000
Reason for variation	Capped at 5000 UGX
Appears on Repayment Sched?	Yes

Upfront Insurance Fees

	Ins 1
Description	Loan Insurnance
% of loan amount - min	1.00%
% of loan amount - max	1.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	1% < 1 year. 1.5% for loans> 1 year
Appears on Repayment Sched?	No

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

Are taxes charged on this product?

Additional Comments

There are other loan related charges born by the borrower that vary depending on collateral and assessment cost, mortgage & caveat fees, land and motor vehicle searches.

Full Pricing Data

Business Support Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5
Loan Amount	GHS 1,500	GHS 2,700	GHS 6,000	GHS 10,000	GHS 15,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2013-02-28	2013-02-25	2012-07-10	2013-01-23	2013-03-07
Loan Term (Months)	6.0 months	4.0 months	3.1 months	3.0 months	6.0 months
Grace Period (Months)	-0.1 months	-0.1 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	GHS 405	GHS 621	GHS 1,080	GHS 1,800	GHS 4,050
True Price by Comp
Interest price component	77.3%	91.9%	83.8%	86.1%	75.3%
Fee Component	11.4%	15.7%	18.5%	19.1%	11.0%
Insurance Component	0.0%	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	16.0%	18.5%	16.6%	17.0%	15.4%
Full APR (int fee ins tax dep)	104.7%	126.1%	118.9%	122.2%	101.7%
Transparency Index	57	48	50	49	59

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

Full Pricing Data

Salary Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	UGX 280,000	UGX 800,000	UGX 1,400,000	UGX 3,000,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2012-08-23	2012-07-27	2012-08-24	2012-08-24
Loan Term (Months)	6.0 months	25.0 months	25.0 months	25.0 months
Grace Period (Months)	0.9 months	1.3 months	0.3 months	1.3 months
Total Cost of Credit	UGX 63,800	UGX 524,000	UGX 900,200	UGX 1,905,000
True Price by Comp
Interest price component	45.1%	43.8%	43.6%	43.5%
Fee Component	28.5%	8.8%	7.9%	7.3%
Insurance Component	3.8%	1.7%	1.7%	1.7%
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)	77.4%	54.3%	53.2%	52.5%
Transparency Index	35	50	51	51

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

Business Support Loan Price Graphs

Click to view Price Analysis Tool

Salary Loan Price Graphs

Click to view Price Analysis Tool

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
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Institution

Institution

Product

Product

Product Summary

Product Summary

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Additional Comments

Full Pricing Data

Business Support Loan samples

Full Pricing Data

Salary Loan samples

Business Support Loan Price Graphs

Salary Loan Price Graphs

Total Borrowers of Samples

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