| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 2010 |
| Head of Institution | Mr Sam Baimbill-Johnson |
| Regions active | Greater Accra Region |
| # Branches | 1 |
| Total Portfolio (nat'l) | GHS 546,670 |
| Total Portfolio (USD) | USD 277,497.46 |
| Active clients with loans | 83 |
| Approximate % female clients | 20% - 40% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | GHS 1,000 - 10,000 | 1 - 12 | 0% - 20% | 0% - 20% | Business, Other | Women, Men, Have business, Salaried worker |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | 54.00%-96.00% annual, Flat | 1 Fee | 0 | None | N/A | 116.1% - 146.2% | 116.1% - 146.2% | 39 |
| Outstanding portfolio (USD) | USD 433,734 |
| Portfolio (USD) | USD 433,734 |
| Active Clients with Loans | 111 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| 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 | Buenos antecedentes personales y crediticios. Actividad económica y financieramente viable. |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | USD |
| Minimum loan size | USD 600 |
| Maximum loan size | 12,000 |
| Shortest loan term | 12.0 months |
| Longest loan term | 60.0 months |
| Approx average | 32.0 months |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 |
| Lowest quoted nominal interest | 22.00% |
| Highest quoted nominal interest | 30.00% |
| Reason(s) why interest rate varies | Loan Size, Client Risk |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Seguro de Desgravamen |
| % of loan amount - min | 5.00% |
| % of loan amount - max | 5.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | Yes |
| Fee 1 | |
|---|---|
| Description | Seguro de Desgravamen |
| % of loan amount - min | 5.00% |
| % of loan amount - max | 5.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | Yes |
| Percentage of fees | 0 |
| All or some fees taxed | N/A |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | USD 1,000 | USD 2,000 | USD 3,500 | USD 8,000 | USD 12,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2010-06-02 | 2010-02-16 | 2010-03-20 | 2010-02-15 | 2010-03-05 | ||||
| Loan Term (Months) | 24.0 months | 24.0 months | 36.0 months | 36.0 months | 60.0 months | ||||
| Grace Period (Months) | 0.0 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 | Not Known | ||||
| True Price by Comp | |||||||||
| Interest and Fee Component | 32.2% | 31.4% | 30.5% | 27.0% | 24.9% | ||||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Tax Component | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | ||||
| Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Full APR (int fee ins tax dep) | 32.3% | 31.6% | 30.6% | 27.2% | 25.0% | ||||
| Transparency Index | 68 | 70 | 72 | 81 | 88 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Key Statistics | |
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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