| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 1996 |
| Head of Institution | Nana Opare-Dzan |
| Regions active | |
| # Branches | 4 |
| Total Portfolio (nat'l) | GHS 1,539,492 |
| Total Portfolio (USD) | USD 781,468.02 |
| Active clients with loans | 8,017 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | GHAMFIN, GAPVOD, ASSFIN, EMPRETEC Business Forum |
| Funders | MiDA, International Alliance for Women, Social Investment Fund (SIF), KIVA, EB-ACCION, RHEMA |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agape Loan | GHS 100 - 250 | 6 | 80% - 100% | 0% - 20% | Business | Women, Men | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training | |||||||
| Extra Mile Loan | GHS 1,200 - 1,200 | 6 | 80% - 100% | 0% - 20% | Business | Women, Men, Have business, Salaried worker, some have businesses, others are salary workers like teachers and nurses | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training | |||||||
| Green Energy Microfinance(GEM) Loan | GHS 450 - 500 | 6 | 80% - 100% | 0% - 20% | Business, Housing, Other, Health clinic, corn milling business | Women, Men | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training | |||||||
| Higher Heights Loan | GHS 1,000 - 2,052 | 4 - 12 | 80% - 100% | 80% - 100% | Business, Farmers | Men | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training, Training on access to green energy in their agro-processsing activities | |||||||
| Sika Rose Loan | GHS 150 - 500 | 6 | 80% - 100% | 80% - 100% | Business, Agricultural produce marketing | Women, Have business | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agape Loan | 20.00% annual, Flat | 0 Fees | 0 Ins | None | 10.00% upfront | 61% - 64.7% | 71.5% - 76.6% | 27 | ||||||||
| Extra Mile Loan | 40.00% annual, Flat | 1 Fee | 0 Ins | None | 10.00% upfront | 64.7% | 76.8% | 52 | ||||||||
| Green Energy Microfinance(GEM) Loan | 40.00% annual, Flat | 1 Fee | 0 Ins | None | 100.00 upfront | 61% - 67.1% | 86.8% - 96.3% | 42 | ||||||||
| Higher Heights Loan | 30.00% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 26% | 26% | 100 | ||||||||
| Sika Rose Loan | 40.00% annual, Flat | 1 Fee | 0 Ins | None | 10.00% upfront | 46.8% - 59.5% | 53% - 67.1% | 64 |
| Outstanding portfolio (USD) | USD 3,259,094 |
| Portfolio (USD) | USD 3,259,094 |
| Active Clients with Loans | 421 |
| Approximate % Female Clients | 0% - 20% |
| 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 | x |
| 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 | 7 |
| # Regions for this product | 7 |
| Regions Active | Chuquisaca , Cochabamba , La Paz , Oruro , Potosí, Santa Cruz, Tarija |
| Currency | USD |
| Minimum loan size | USD 200 |
| Maximum loan size | 50,000 |
| Loans less than USD 1,500 | 5% |
| USD 1,500-5,000 | 40% |
| USD 5,000-10,000 | 20% |
| USD 10,000-15,000 | 5% |
| USD 15,000-18,000 | 5% |
| Greater than USD 18,000 | 5% |
| Shortest loan term | 3.0 months |
| Longest loan term | 36.0 months |
| Approx average | 19.5 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 10% |
| Between 10 and 12 months | 10% |
| Between 13 and 18 months | 15% |
| Longer than 18 months | 60% |
| 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 | x |
| Every 12 months | |
| Single end payment | x |
| Irregular payments | x |
| Lowest quoted nominal interest | 20.00% |
| Highest quoted nominal interest | 28.00% |
| Reason(s) why interest rate varies | Loan Size, Collateral |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Gastos Administrativos |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Fee varies based on loan amount. |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Seguro de Desgravamen |
| % of loan amount - min | 0.24% |
| % of loan amount - max | 2.88% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Insurance fee is 0.08% per month, charged on the total disbursed amount for loans 3,000 USD and below, and charged on the oustanding princpal balalnce only for loans above 3,000 USD. |
| Appears on Repayment Sched? | 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 | USD 5,000 | USD 10,000 | USD 15,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2014-03-06 | 2014-03-06 | 2014-04-01 | ||
| Loan Term (Months) | 10.0 months | 15.0 months | 24.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | USD 564.22 | USD 1,909.82 | USD 4,750 | ||
| True Price by Comp | |||||
| Interest price component | 20.0% | 25.0% | 27.6% | ||
| Fee Component | 3.4% | 2.5% | 1.8% | ||
| Insurance Component | 1.0% | 0.9% | 0.9% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 24.4% | 28.4% | 30.3% | ||
| Transparency Index | 82 | 70 | 66 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
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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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