Outstanding portfolio (GHS) | GHS 9,547,816.32 |
Portfolio (USD) | USD 4,846,607.27 |
Active Clients with Loans | 1,134 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 60% - 80% |
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 | |
Workplace visits | |
Business training | x |
Other training | x |
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 | 6 |
# Regions for this product | 6 |
Regions Active | Greater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region |
Currency | GHS |
Minimum loan size | GHS 1,000 |
Maximum loan size | 300,000 |
Loans less than GHS 1,000 | 5% |
GHS 1,000-5,000 | 20% |
GHS 5,000-7,500 | 20% |
GHS 7,500-10,000 | 15% |
GHS 10,000-13,000 | 15% |
Greater than GHS 13,000 | 15% |
Shortest loan term | 1.0 month |
Longest loan term | 24.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 5% |
Between 4 and 6 months | 15% |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 40% |
Between 13 and 18 months | 15% |
Longer than 18 months | 5% |
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 | 31.00% |
Highest quoted nominal interest | 41.00% |
Reason(s) why interest rate varies | Interest varies based on loan duration |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Commitment Fee |
% 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 |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 5.00% - 25.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | End Term |
Minimum interest rate paid | 5.00% |
Maximum interest rate paid | 5.00% |
Interest payment frequency | Quarterly |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | GHS 1,500 | GHS 3,000 | GHS 6,000 | GHS 9,000 | GHS 12,000 | GHS 15,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2013-06-04 | 2013-05-24 | 2013-06-11 | 2013-05-16 | 2013-05-02 | 2013-05-03 | |||||
Loan Term (Months) | 6.0 months | 6.0 months | 12.0 months | 12.0 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 | GHS 336 | GHS 672 | GHS 2,580 | GHS 3,864 | GHS 5,160 | GHS 6,444 | |||||
True Price by Comp | |||||||||||
Interest price component | 65.0% | 64.6% | 66.8% | 66.5% | 66.6% | 66.5% | |||||
Fee Component | 7.2% | 7.3% | 4.1% | 4.1% | 4.1% | 4.2% | |||||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 44.0% | 43.8% | 41.0% | 40.7% | 29.7% | 20.4% | |||||
Full APR (int fee ins tax dep) | 116.2% | 115.7% | 111.9% | 111.3% | 100.4% | 91.1% | |||||
Transparency Index | 27 | 27 | 28 | 28 | 31 | 34 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.finca.org/ |
Year established | 1992 |
Head of Institution | Julius Omoding |
Regions active | Central, Eastern, Northern, Western, Southern |
# Branches | 27 |
Total Portfolio (nat'l) | UGX 69,190,692,605 |
Total Portfolio (USD) | USD 27,402,254.50 |
Active clients with loans | 56,372 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 20% - 40% |
Network affiliations | FINCA International |
Funders | FINCA International, SEEP, Gates Foundation |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINCA Business Loan | UGX 500,000 - 200,000,000 | 3 - 36 | 20% - 40% | 80% - 100% | Business, Agriculture, Education | Women, Men, Have business, Specific age group | Credit Ins | |||||||
FINCA Small Group Loan | UGX 500,000 - 10,000,000 | 3 - 12 | 20% - 40% | 60% - 80% | Business, Agriculture, Education | Women, Men, Have business, Specific age group | Credit Educ, Group Mtgs, Credit Ins | |||||||
FINCA Village Group Loan | UGX 50,000 - 10,000,000 | 4 - 8 | 40% - 60% | 20% - 40% | Business, Agriculture, Education | Women, Men, Have business, Specific age group | Credit Educ, Group Mtgs, Credit Ins | |||||||
FINCA Agriculture Loan | UGX 100,000 - 60,000,000 | 3 - 36 | 40% - 60% | 20% - 40% | Business, Agriculture, Education | Women, Men, Individual farmers & farmers in cooperatives | Loan guarantee up to 50% by agribusiness initiative |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINCA Business Loan | 24.0%-36.0% annual, Decl Bal | 2 Fees | 1 Ins | None | N/A | 32.2% - 36.1% | 33% - 37% | 68 | ||||||||
FINCA Small Group Loan | 68.8% annual, Decl Bal | 1 Fee | 0 Ins | None | 10.0% upfront | 69.2% - 71.6% | 82.7% - 87.1% | 81 | ||||||||
FINCA Village Group Loan | 68.8% annual, Decl Bal | 1 Fee | 0 Ins | None | 10.0% upfront 1.00% ongoing | 70% - 80.5% | 84.2% - 97.9% | 78 | ||||||||
FINCA Agriculture Loan | 42.0%-68.8% annual, Decl Bal | 2 Fees | 0 Ins | None | N/A | 59.7% - 71.5% | 59.7% - 71.5% | 66 |
Key Statistics | |
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Loan Portfolio (USD) | |
% Products using declining balance | |
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% 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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