| 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 (INR) | INR 162,845,583 |
| Portfolio (USD) | USD 3,072,558.17 |
| Active Clients with Loans | 21,038 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 60% - 80% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | x |
| Other | Joint Liability Group |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | x |
| 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 | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | |
| Must lives in urban area | |
| Other | 3 Out of 5 members should have own house in a group |
| Other (2) | Age should be above 18 and upto 58 |
| # Regions for this institution | 5 |
| # Regions for this product | 3 |
| Regions Active | Andhra Pradesh, Orissa, Tamil Nadu |
| Currency | INR |
| Minimum loan size | INR 5,000 |
| Maximum loan size | 30,000 |
| Loans less than INR 5,000 | 5% |
| INR 5,000-15,000 | 90% |
| INR 15,000-25,000 | 5% |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 12.0 months |
| Longest loan term | 24.0 months |
| Approx average | DK |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 60% |
| Between 13 and 18 months | 40% |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 |
| Lowest quoted nominal interest | 25.00% |
| Highest quoted nominal interest | 26.72% |
| Reason(s) why interest rate varies | Loan Size, Changes in Interest rates are due to competition, company performance and regulation |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing 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? | Yes |
| Ins 1 | |
|---|---|
| Description | Insurance |
| % of loan amount - min | 0.70% |
| % of loan amount - max | 0.70% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| 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 | 12.4% |
| All or some fees taxed | Some |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | INR 10,000 | INR 15,000 | INR 12,000 | INR 12,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2012-09-06 | 2012-09-25 | 2012-09-06 | 2012-09-06 | |||
| Loan Term (Months) | 11.0 months | 11.0 months | 11.0 months | 11.0 months | |||
| Grace Period (Months) | -0.3 months | -0.3 months | -0.3 months | -0.3 months | |||
| Total Cost of Credit | INR 1,507.36 | INR 2,298.54 | INR 1,818.83 | INR 1,818.83 | |||
| True Price by Comp | |||||||
| Interest price component | 27.3% | 27.2% | 26.8% | 26.8% | |||
| Fee Component | 2.3% | 2.2% | 2.3% | 2.3% | |||
| Insurance Component | 1.6% | 1.5% | 1.5% | 1.5% | |||
| Tax Component | 0.3% | 0.3% | 0.3% | 0.3% | |||
| Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Full APR (int fee ins tax dep) | 31.5% | 31.2% | 30.9% | 30.9% | |||
| MFIN MFI Earning (Annualised) | 29.6% | 29.4% | 29.1% | 29.1% | |||
| MFIN Cost to Borrower (Annualised) | 31.5% | 31.2% | 30.9% | 30.9% | |||
| Transparency Index | 79 | 80 | 81 | 81 | |||
| MFIN Transparency Index | 92 | 92 | 93 | 93 | |||
| 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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