Institution Type | Non-Governmental Organization |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 1999 |
Head of Institution | Joseph S. K. Agamah |
Regions active | Eastern Region, Ashanti Region |
# Branches | 2 |
Total Portfolio (nat'l) | GHS 27,463 |
Total Portfolio (USD) | USD 13,940.61 |
Active clients with loans | 109 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 60% - 80% |
Network affiliations | ASSFIN, GHAMFIN |
Funders | ISODEC |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | GHS 200 - 3,000 | 4 - 9 | 0% - 20% | 0 | Business, Small-scale businesses | Women, Men, Have business, Must be an active farmer. , Must be a farmer group member, and live in the same community as the group. | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training, Other Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | 48.00% annual, Flat | 1 Fee | 0 | None | 33.30% upfront | 72.9% - 80.2% | 141.6% - 150.5% | 32 |
Outstanding portfolio (UGX) | UGX 5,100,000 |
Portfolio (USD) | USD 1,962 |
Active Clients with Loans | 20,000 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 20% - 40% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
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 | |
Other (2) |
# Regions for this institution | 4 |
# Regions for this product | 4 |
Regions Active | Central, Eastern, Northern, Western |
Currency | UGX |
Minimum loan size | UGX 5,100,000 |
Maximum loan size | 20,000,000 |
Loans less than UGX 1,000,000 | 0 |
UGX 1,000,000-5,000,000 | 0 |
UGX 5,000,000-7,500,000 | 30% |
UGX 7,500,000-10,000,000 | 30% |
UGX 10,000,000-13,000,000 | 20% |
Greater than UGX 13,000,000 | 20% |
Shortest loan term | 3.0 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 | 20% |
Between 10 and 12 months | 30% |
Between 13 and 18 months | 30% |
Longer than 18 months | 20% |
Grace period usage | 10% |
Average grace period | 1.0 month |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | x |
Quarterly | x |
Every 6 months | x |
Every 12 months | |
Single end payment | x |
Irregular payments |
Lowest quoted nominal interest | 1.83% |
Highest quoted nominal interest | 2.00% |
Reason(s) why interest rate varies | Client Risk |
Interest rate period | Monthly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Acceptance Fee | Stamp Duty & Mortgage Fee | |
% of loan amount - min | 2.00% | 0 | |
% of loan amount - max | 2.00% | 0 | |
OR, Fixed amount - min | 0 | 69,000 | |
Fixed amount - max | 0 | 510,000 | |
Reason for variation | N/A | 10,000 Stamp Duty & 59,000 to 500,000 Mortgage fee. | |
Appears on Repayment Sched? | Yes | Yes |
Fee 1 | |
---|---|
Description | Monthly Monitoring Fee |
% of loan amount - min | 0.50% |
% of loan amount - max | 0.67% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | New borrowers pay 0.67% & existing borrowers pay 0.5%. |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Loan Protection Insurance |
% of loan amount - min | 0.45% |
% of loan amount - max | 0.45% |
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? | No |
Sample 2 | Sample 3 | Sample 4 | |||
---|---|---|---|---|---|
Loan Amount | UGX 11,000,000 | UGX 12,500,000 | UGX 15,000,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2012-12-11 | 2012-07-09 | 2013-01-09 | ||
Loan Term (Months) | 13.0 months | 24.0 months | 37.0 months | ||
Grace Period (Months) | 0.7 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | UGX 2,431,796 | UGX 4,894,980 | UGX 8,658,864 | ||
True Price by Comp | |||||
Interest price component | 26.9% | 29.6% | 29.7% | ||
Fee Component | 8.4% | 4.9% | 3.4% | ||
Insurance Component | 0.9% | 0.5% | 0.4% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 36.2% | 35.0% | 33.5% | ||
Transparency Index | 61 | 63 | 65 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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