CRAN Microfinance - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 141 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

CRAN Microfinance Head OfficeCape Coast, CentralP.O. Box UC 97

Data approved: 2013-02-18

Data version: 2

Age of data: 141 months

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Institution Details

Institution Type	Non-Governmental Organization
Is this institution regulated?	Yes
Website address	http://www.cranmicrofinance.org
Year established	1993
Head of Institution	Dr. Patrick Agbesingale
Regions active	Central Region, Western Region, Volta Region
# Branches	5

Total Portfolio (nat'l)	GHS 2,008,192
Total Portfolio (USD)	USD 1,019,386.80
Active clients with loans	3,613
Approximate % female clients	80% - 100%
Approximate % urban clients	40% - 60%
Network affiliations	GHAMFIN, ASSFIN, GAMC
Funders	CORDAID, TERA JANE, KIVA

Loan Products » Summary

Group

3,234 Borrowers

USD 796,932.99 Portfolio

Active Product

Individual

379 Borrowers

USD 222,453.30 Portfolio

Active Product

Loan Products » Conditions

Product Name		Loan Size Range		Loan Term (months)		% Female		% Urban		Loan Purpose		Eligibility		Other Services
Group Loans		GHS 200 - 3,000		4 - 12		40% - 60%		40% - 60%		Business		Women, Men, Have business		Credit Educ, Group Mtgs, Credit Ins, Savings promotion
Individual Loan		GHS 200 - 10,000		6 - 12		60% - 80%		40% - 60%		Business		Women, Men, Have business		Credit Educ, Credit Ins, Savings promotion

Loan Products » Pricing Information

Product Name		Annual Nominal Interest		Fees		Insurance		Taxes		Compulsory Deposit		APR (int+fee)		Full APR		Transparency Index
Group Loans		42.00% annual, Flat		1 Fee		1 Ins		None		20.00% upfront		73.3% - 73.5%		112.8% - 114%		37
Individual Loan		42.00% annual, Flat		1 Fee		1 Ins		None		20.00% upfront		72.3% - 73.5%		106.1% - 112%		37

Institution Price Graph

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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

Finance Savings and Credit Cooperative MUSCCO HouseLilongwePO Box 1292

Data approved: 2013-01-04

Data version: 2

Age of data: 144 months

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Product

Payroll Loan Product 7 of 7 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (MWK)	MWK 27,177,900.39
Portfolio (USD)	USD 69,686.92
Active Clients with Loans	562
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	40% - 60%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

This is a loan product for those who are on salaried employement

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
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
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	5
# Regions for this product	5
Regions Active	Lilongwe, Mchinji, Salima, Mzimba, Blantyre

Loan Conditions

Loan Amount

Currency	MWK
Minimum loan size	MWK 5,000
Maximum loan size	1,500,000

Distribution at Disbursement (Est.)

Loans less than MWK 50,000	30%
MWK 50,000-150,000	50%
MWK 150,000-250,000	10%
MWK 250,000-350,000	5%
MWK 350,000-450,000	5%
Greater than MWK 450,000	5%

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	12.0 months
Approx average	6.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	10%
Between 4 and 6 months	10%
Between 7 and 9 months	40%
Between 10 and 12 months	40%
Between 13 and 18 months	0
Longer than 18 months	0

Grace Period

Grace period usage	100%
Average grace period	1.0 month

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	38.00%
Highest quoted nominal interest	38.00%
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
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

	Ins 1
Description	Insurance Premium
% of loan amount - min	2.00%
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	Yes

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?	Yes
Do borrowers control deposit in their group?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	50.00%
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	Access During

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?

Full Pricing Data

Payroll Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	MWK 17,400	MWK 20,000	MWK 50,000	MWK 100,000	MWK 300,000	MWK 500,000
Loan Cycle (1, 2, 3, etc)	5	9	3	7	2	3
Disbursement Date	2012-12-18	2013-01-14	2013-01-03	2012-07-25	2012-09-07	2013-01-14
Loan Term (Months)	12.0 months	4.0 months	12.0 months	10.0 months	12.0 months	12.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	MWK 7,482	MWK 3,533.32	MWK 21,499.96	MWK 36,666.70	MWK 129,000	MWK 214,999.96
True Price by Comp
Interest price component	62.6%	58.8%	62.8%	62.2%	62.6%	62.8%
Fee Component	6.2%	15.2%	6.3%	7.2%	6.3%	6.3%
Insurance Component	4.3%	10.5%	4.3%	4.9%	4.3%	4.3%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	150.0%	206.8%	151.4%	160.7%	150.3%	151.4%
Full APR (int fee ins tax dep)	223.1%	291.3%	224.8%	235.0%	223.5%	224.8%
Transparency Index	17	13	17	16	17	17

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

Payroll Loan Price Graphs

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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
	to
	to ∞

Institution

Institution Details

Loan Products » Summary

Loan Products » Conditions

Loan Products » Pricing Information

Institution Price Graph

Institution

Product

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

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

Full Pricing Data

Payroll Loan samples

Payroll Loan Price Graphs

Total Borrowers of Samples

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