Simli Pong - Agro-Processing Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 158 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Simli Pong SimplipongTamale, Northern Region

Data approved: 2011-12-07

Data version: 1

Age of data: 158 months

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Product

Agro-Processing Loan Product 2 of 3 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (GHS)	GHS 628,721
Portfolio (USD)	USD 319,147.72
Active Clients with Loans	5,720
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group
Village banking
Self help group	x
Other

Description

This is the chunk of the organization. You should be a member of the community and a member of a group which is registered with Simli Pong.Includes shea butter, groundnuts, rice, beans.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other	for agro-processing activities
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits	x
Business training	x
Other training
Other
Other (2)
No other services

Eligibility

Men
Women	x
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	GHS
Minimum loan size	GHS 100
Maximum loan size	2,100

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	6.0 months

Grace Period

Grace period usage	0
Average grace period	0

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	27.00%
Highest quoted nominal interest	30.00%
Reason(s) why interest rate varies	Time as Client, Client Risk, Collateral
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	Application Fee	Processing Fee
% of loan amount - min	0	0
% of loan amount - max	0	0
OR, Fixed amount - min	2	2
Fixed amount - max	2	21
Reason for variation		No info
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?

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

Interest Paid on Deposit

Minimum interest rate paid	0
Maximum interest rate paid	0
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Agro-Processing Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	GHS 200	GHS 700	GHS 1,253.30
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2010-10-17	2010-10-30	2010-07-09
Loan Term (Months)	6.0 months	6.0 months	12.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	57.6%	49.4%	44.4%
Insurance Component	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	11.1%	9.1%	7.7%
Full APR (int fee ins tax dep)	68.6%	58.5%	52.1%
Transparency Index	39	46	52

Original Repayment Schedule	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF

Agro-Processing Loan Price Graphs

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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

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Total Borrrowers of Samples


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