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 |
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 |
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 |
Outstanding portfolio (UGX) | UGX 2,512,441,999 |
Portfolio (USD) | USD 1,004,977 |
Active Clients with Loans | 205 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | Business Assets, Construction |
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 | x |
Must be a salaried worker | |
Must be specific age group | |
Other | Must have a registered security, e.g. land title |
Other (2) |
# Regions for this institution | 2 |
# Regions for this product | 2 |
Regions Active | Central, Western |
Currency | UGX |
Minimum loan size | UGX 10,000,000 |
Maximum loan size | 23,000,000 |
Loans less than UGX 1,000,000 | 0 |
UGX 1,000,000-5,000,000 | 0 |
UGX 5,000,000-7,500,000 | 0 |
UGX 7,500,000-10,000,000 | 0 |
UGX 10,000,000-13,000,000 | 15% |
Greater than UGX 13,000,000 | 15% |
Shortest loan term | 3.0 months |
Longest loan term | 36.0 months |
Approx average | 24.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 5% |
Between 10 and 12 months | 10% |
Between 13 and 18 months | 10% |
Longer than 18 months | 70% |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | x |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 2.50% |
Highest quoted nominal interest | 2.50% |
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 | Loan Application Fee & Stamp Duty | Loan Commision | |
% of loan amount - min | 0 | 2.00% | |
% of loan amount - max | 0 | 2.00% | |
OR, Fixed amount - min | 10,000 | 0 | |
Fixed amount - max | 15,000 | 0 | |
Reason for variation | Ap Fee = 10,000. Stamp Duty = 5,000 for loans > 2M | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Loan Insurance Premium |
% of loan amount - min | 0.85% |
% of loan amount - max | 0.85% |
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 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | UGX 15,000,000 | UGX 10,100,000 | UGX 15,000,000 | UGX 15,000,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-09-10 | 2012-10-23 | 2012-10-23 | 2012-10-23 | |||
Loan Term (Months) | 5.1 months | 12.0 months | 18.0 months | 12.0 months | |||
Grace Period (Months) | 1.0 month | 0.0 months | 0.0 months | 0.0 months | |||
Total Cost of Credit | UGX 1,391,572.66 | UGX 2,018,289.76 | UGX 4,253,421.18 | UGX 2,990,182.92 | |||
True Price by Comp | |||||||
Interest price component | 21.0% | 29.6% | 29.6% | 29.6% | |||
Fee Component | 7.3% | 4.2% | 2.9% | 4.2% | |||
Insurance Component | 3.0% | 1.7% | 1.2% | 1.7% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 31.3% | 35.5% | 33.7% | 35.5% | |||
Transparency Index | 96 | 84 | 89 | 85 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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