| Number borrowers | 231 |
| Loan Amount (range) | GHS 2,000 - 10,000 |
| Loan Term (range) | 6 - 18 |
| Other Services (text summary) | Credit Educ, Credit Ins, Tech Asst Visits, Business Training |
| Annual Interest & Method | 60.00%-84.00% annual, Flat |
| Fees | 3.00% upfront |
| Insurance | 1.00% upfront |
| Tax | None |
| Comp Dep | 30.00% upfront |
| Range of pricing | |
| Interest Price Component | 84.9% - 110.4% |
| Fee Component | 11.3% - 31.6% |
| Insurance Component | 0 - 6.6% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 194.0% - 216.6% |
| Transparency Index (min/max) | 25 - 36 |
| Transparency Index (average) | 29 |
| 756 |
| USD 100 - 10,000 |
| 10.7 - 71.3 |
| Credit Educ, Credit Ins |
| 18.0%-24.0% annual, Decl Bal |
| None |
| None |
| None |
| N/A |
| 16.3% - 36.0% |
| 0 |
| 0 |
| 0 |
| 19.1% - 23.4% |
| 51 - 101 |
| 86 |
| Outstanding portfolio (GHS) | GHS 78,000 |
| Portfolio (USD) | USD 39,593.91 |
| Active Clients with Loans | 231 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | x |
| Agriculture | |
| Education | x |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| 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 | x |
| Must be specific age group | |
| Other | Must be Innovative Finance client for at least a year |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 2 |
| Regions Active | Greater Accra Region, Northern Region |
| Outstanding portfolio (USD) | USD 3,540,515 |
| Portfolio (USD) | USD 3,540,515 |
| Active Clients with Loans | 756 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | x |
| Other | |
| Other (2) |
| Credit education | x |
| 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 | 9 |
| # Regions for this product | 9 |
| Regions Active | Beni , Chuquisaca , Cochabamba , La Paz , Oruro , Pando , Potosí, Santa Cruz, Tarija |
| Currency | GHS |
| Minimum loan size | GHS 2,000 |
| Maximum loan size | 10,000 |
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 60% |
| GHS 5,000-7,500 | 20% |
| GHS 7,500-10,000 | 20% |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 18.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 80% |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | x |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | x |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Currency | USD |
| Minimum loan size | USD 100 |
| Maximum loan size | 10,000 |
| Loans less than USD 1,500 | 0 |
| USD 1,500-5,000 | 20% |
| USD 5,000-10,000 | 80% |
| USD 10,000-15,000 | 0 |
| USD 15,000-18,000 | 0 |
| Greater than USD 18,000 | 0 |
| Shortest loan term | 10.7 months |
| Longest loan term | 71.3 months |
| Approx average | 41.8 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 | x |
| Lowest quoted nominal interest | 5.00% |
| Highest quoted nominal interest | 7.00% |
| Reason(s) why interest rate varies | Branch, Time as Client, Loan Size, Client Risk, Collateral, Loan Purpose |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| 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 |
| Ins 1 | |
|---|---|
| Description | Insurance 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? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 30.00% |
| 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 | 2.00% |
| Maximum interest rate paid | 8.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 18.00% |
| Highest quoted nominal interest | 24.00% |
| Reason(s) why interest rate varies | Time as Client, Loan Size, Client Risk, Collateral, Loan Purpose |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| 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 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 3,000 | GHS 5,000 | GHS 8,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-12-03 | 2012-11-22 | 2013-01-18 | ||
| Loan Term (Months) | 5.0 months | 6.0 months | 5.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | GHS 1,020 | GHS 1,850.40 | GHS 2,320 | ||
| True Price by Comp | |||||
| Interest price component | 108.6% | 102.1% | 92.8% | ||
| Fee Component | 13.0% | 11.3% | 13.0% | ||
| Insurance Component | 4.5% | 3.9% | 4.5% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 90.5% | 85.7% | 83.7% | ||
| Full APR (int fee ins tax dep) | 216.6% | 203.0% | 194.0% | ||
| Transparency Index | 28 | 30 | 31 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | USD 3,000 | USD 8,000 | USD 7,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-12-05 | 2014-01-13 | 2013-12-05 | ||
| Loan Term (Months) | 24.0 months | 48.0 months | 26.0 months | ||
| Grace Period (Months) | 0.1 months | -1.0 months | 0.1 months | ||
| Total Cost of Credit | USD 643.19 | USD 3,442.05 | USD 1,864.41 | ||
| True Price by Comp | |||||
| Interest price component | 20.4% | 19.1% | 23.4% | ||
| Fee Component | 0.0% | 0.0% | 0.0% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 20.4% | 19.1% | 23.4% | ||
| Transparency Index | 88 | 94 | 77 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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