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Institution
Data approved: 2013-03-12
Data version: 2
Age of data: 140 months
Key Statistics
| Outstanding portfolio (GHS) | GHS 9,320,505 |
| Portfolio (USD) | USD 4,731,220.81 |
| Active Clients with Loans | 595 |
| Approximate % Female Clients | 0% - 20% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
ISME loan is a short to medium-term loan facility for private school owners. Loan amount start from Ghc 2,000.00 and the loan term can be extended to 24 months.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | x |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | x |
| Business training | x |
| 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 | Fully registered and licensed school |
| 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 10,000 |
| Maximum loan size | 100,000 |
Distribution at Disbursement (Est.)
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 0 |
| GHS 5,000-7,500 | 0 |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 30% |
| Greater than GHS 13,000 | 30% |
Loan Term and Grace Period
| Shortest loan term | 10.0 months |
| Longest loan term | 37.0 months |
| Approx average | 16.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 30% |
| Longer than 18 months | 40% |
Grace Period
| Grace period usage | 100% |
| 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 | 39.00% |
| Highest quoted nominal interest | 39.00% |
| 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 |
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 | 0 - 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
Loans below 10,000 GHS: 10% compulsory depsoit requirement. 10,000 GHS and above: no requirement. Interest paid on deposit rule - If amount deposited is less than 1,000 GHS, 0% interest. If amount depsoited is 1,000 GHS or more, 3% interest.
Full Pricing Data
ISME / Edufinance samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | GHS 12,000 | | GHS 12,553.63 | | GHS 15,000 | | GHS 15,680.25 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-11-27 | | 2012-12-05 | | 2012-11-23 | | 2012-11-06 |
| Loan Term (Months) | 13.0 months | | 21.0 months | | 12.0 months | | 14.0 months |
| Grace Period (Months) | 1.0 month | | 1.1 months | | 0.0 months | | 1.5 months |
| Total Cost of Credit | GHS 3,489.15 | | GHS 5,255.91 | | GHS 3,868.32 | | GHS 4,754.79 |
| True Price by Comp | | | | | | | |
| Interest price component | 38.8% | | 38.4% | | 38.8% | | 38.3% |
| Fee Component | 6.5% | | 4.6% | | 7.5% | | 6.2% |
| Insurance Component | 1.5% | | 1.4% | | 1.7% | | 1.8% |
| 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) | 46.8% | | 44.4% | | 48.0% | | 46.3% |
| Transparency Index | 83 | | 88 | | 81 | | 84 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
ISME / Edufinance Price Graphs
