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Institution
Data approved: 2012-10-16
Data version: 2
Age of data: 144 months
Key Statistics
| Outstanding portfolio (UGX) | UGX 1,341,318,798 |
| Portfolio (USD) | USD 536,528 |
| Active Clients with Loans | 3,491 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Enables borrowers to access loans as a group to increase their working capital as they pay back in monthly manageable installments. Collateral is pledged to group members who in turn guarantee each other. The loan period is flexible.
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 | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| Men | x |
| Women | |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) | |
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 | UGX |
| Minimum loan size | UGX 100,000 |
| Maximum loan size | 4,000,000 |
Distribution at Disbursement (Est.)
| Loans less than UGX 1,000,000 | 50% |
| UGX 1,000,000-5,000,000 | 50% |
| UGX 5,000,000-7,500,000 | 0 |
| UGX 7,500,000-10,000,000 | 0 |
| UGX 10,000,000-13,000,000 | 0 |
| Greater than UGX 13,000,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 24.0 months |
| Approx average | 6.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 50% |
| Between 7 and 9 months | 15% |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 5% |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
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 | 30.00% |
| Highest quoted nominal interest | 30.00% |
| 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 Insurance |
| % 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 | Some |
| Criteria | Not required if collateral is titled land or comrehensively insured motor vehicle |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
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 | UGX 5,000 |
| Conditions on access to deposit | Final Pmt |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | End Term |
Taxes
| Are taxes charged on this product? | No |
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 Loan - Group samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | UGX 300,000 | | UGX 700,000 | | UGX 1,500,000 | | UGX 3,000,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-07-18 | | 2012-08-22 | | 2012-07-19 | | 2012-07-14 |
| Loan Term (Months) | 5.6 months | | 7.0 months | | 7.0 months | | 11.0 months |
| Grace Period (Months) | 0.0 months | | -0.1 months | | 0.0 months | | 0.1 months |
| Total Cost of Credit | UGX 68,538.46 | | UGX 180,230.77 | | UGX 375,923.08 | | UGX 1,003,653.84 |
| True Price by Comp | | | | | | | |
| Interest price component | 53.0% | | 54.3% | | 53.4% | | 51.8% |
| Fee Component | 31.9% | | 20.0% | | 17.7% | | 12.9% |
| Insurance Component | 4.4% | | 3.5% | | 3.4% | | 2.5% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 38.8% | | 26.0% | | 18.3% | | 14.6% |
| Full APR (int fee ins tax dep) | 128.1% | | 103.8% | | 92.8% | | 81.8% |
| Transparency Index | 23 | | 29 | | 32 | | 37 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Business Loan - Group Price Graphs
