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Institution
Data approved: 2013-03-12
Data version: 2
Age of data: 135 months
Key Statistics
| Outstanding portfolio (GHS) | GHS 5,704,136 |
| Portfolio (USD) | USD 2,895,500.51 |
| Active Clients with Loans | 3,257 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Individual loan is offered to individual clients for working capital and financing business expansion purposes.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| 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) | |
Portfolio Size by Product
Geographic Coverage
| # 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 |
Loan Conditions
Loan Amount
| Currency | GHS |
| Minimum loan size | GHS 200 |
| Maximum loan size | 12,000 |
Distribution at Disbursement (Est.)
| Loans less than GHS 1,000 | 10% |
| GHS 1,000-5,000 | 80% |
| GHS 5,000-7,500 | 10% |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 2.0 months |
| Longest loan term | 24.0 months |
| Approx average | 9.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 10% |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 10% |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 0 |
| 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 | 42.00% |
| Highest quoted nominal interest | 42.00% |
| 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 | | Fee 2 |
|---|
| Description | Processing Fee | | Application Fee |
| % of loan amount - min | 3.50% | | 0 |
| % of loan amount - max | 3.50% | | 0 |
| OR, Fixed amount - min | 0 | | 3 |
| Fixed amount - max | 0 | | 3 |
| Reason for variation | N/A | | N/A |
| Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
| 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 | 1% of total loan amount, divided and charged equally throughout loan term. |
| Appears on Repayment Sched? | Yes |
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | End Term |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Interest paid on deposit rule - If amount deposited is less than 1,000 GHS, 0% interest. If amount deposited is 1,000 GHS or more, 3% interest.
Full Pricing Data
Individual Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | GHS 300 | | GHS 700 | | GHS 1,500 | | GHS 3,000 | | GHS 6,000 | | GHS 9,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-12-11 | | 2012-12-13 | | 2012-12-20 | | 2012-12-20 | | 2012-10-24 | | 2012-05-17 |
| Loan Term (Months) | 5.5 months | | 7.0 months | | 11.0 months | | 11.0 months | | 8.0 months | | 25.0 months |
| Grace Period (Months) | 0.5 months | | 0.4 months | | 0.4 months | | 0.5 months | | 0.4 months | | 0.5 months |
| Total Cost of Credit | GHS 74.10 | | GHS 216.78 | | GHS 620.20 | | GHS 1,244.40 | | GHS 2,040.44 | | GHS 8,202.48 |
| True Price by Comp | | | | | | | | | | | |
| Interest price component | 62.4% | | 64.9% | | 66.3% | | 65.6% | | 65.0% | | 63.5% |
| Fee Component | 16.6% | | 11.6% | | 8.4% | | 8.0% | | 9.4% | | 4.1% |
| Insurance Component | 3.1% | | 2.3% | | 1.7% | | 1.6% | | 2.0% | | 0.6% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 13.6% | | 13.4% | | 13.0% | | 12.7% | | 12.9% | | 10.2% |
| Full APR (int fee ins tax dep) | 95.7% | | 92.2% | | 89.4% | | 87.9% | | 89.3% | | 78.4% |
| Transparency Index | 44 | | 46 | | 47 | | 48 | | 47 | | 54 |
| | | | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Individual Loan Price Graphs
