2. SAT
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Equity Bank
Please note that the information you are viewing is 141 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Sinapi Aba Trust 22A Ellis Avenue Nhyiaeso, near Capital RadioKumasi, AshantiP.O. Box 4911
Data approved: 2013-03-13
Data version: 2
Age of data: 139 months
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Institution

Equity Bank P.O. Box 75104-00200Hospital Road, Equity Centre, 9th FloorNairobi
Data approved: 2013-09-23
Data version: 2
Age of data: 141 months
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Product

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Product

Fanikisha - Imara - Loan Product 6 of 10 « Prev | Next »

Product Summary

Number borrowers4,150
Loan Amount (range)GHS 100 - 5,000
Loan Term (range)6 - 12
Other Services (text summary)Credit Educ, Group Mtgs, Business Training
Annual Interest & Method20.00%-40.00% annual, Flat
Fees2 fees
Insurance1.00%-4.00% ongoing
TaxNone
Comp Dep10.00% upfront
Range of pricing 
Interest Price Component46.3% - 64.7%
Fee Component6.8% - 18.2%
Insurance Component2.2% - 3.1%
Tax Component Range0
Full APR (int fee ins tax dep)78.7% - 91.5%
Transparency Index (min/max)22 - 52
Transparency Index (average)22

Product Summary

15,474
KES 30,000 - 500,000
1 - 18
Credit Ins, Tech Asst Visits, Business Training, Access to business improvement training at discount rates.
20.0% annual, Decl Bal
2.00%-3.00% upfront
0.63% upfront
None
N/A
 
13.4% - 37.3%
0 - 11.0%
0 - 2.3%
0
37.7% - 46.6%
37 - 83
49

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 2,124,145
Portfolio (USD)USD 1,078,246.19
Active Clients with Loans4,150
Approximate % Female Clients80% - 100%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Designed for micro and small entrepreneurs to enable them to acquire basic inputs to expand businesses.
Loan Purpose
Any purpose
Income generationx
Mortgage/housingx
Consumer loan
Agriculture
Educationx
Other household finance
OtherMicro School
Other (2)Special Agric Loan
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
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 institution10
# Regions for this product10
Regions ActiveGreater Accra Region, Central Region, Western Region, Eastern Region, Volta Region, Ashanti Region, Brong Ahafo Region, Northern Region, Upper East Region, Upper West Region

Product Details

Key Statistics
Outstanding portfolio (KES)KES 1,414,668,844
Portfolio (USD)USD 17,085,372.51
Active Clients with Loans15,474
Approximate % Female Clients100%
Approximate % Urban Clients20% - 40%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Targets women at the micro-level who want to borrow individually. This product is designed to support the growth and development of women microenterprises/small-scale businesses who lack conventional collateral to secure loans.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visitsx
Business trainingx
Other training
OtherAccess to business improvement training at discount rates.
Other (2)
No other services
Eligibility
Men
Womenx
Must run a businessx
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 institution8
# Regions for this product8
Regions ActiveCentral, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 100
Maximum loan size5,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,00080%
GHS 1,000-5,00020%
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average8.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months15%
Between 7 and 9 months70%
Between 10 and 12 months15%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period1.0 month
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end paymentx
Irregular payments

Loan Conditions

Loan Amount
CurrencyKES
Minimum loan sizeKES 30,000
Maximum loan size500,000
Distribution at Disbursement (Est.)
Loans less than KES 50,00010%
KES 50,000-150,00050%
KES 150,000-250,00020%
KES 250,000-350,00015%
KES 350,000-450,0005%
Greater than KES 450,0005%
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term18.0 months
Approx average9.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months5%
Between 7 and 9 months15%
Between 10 and 12 months50%
Between 13 and 18 months30%
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest20.00%
Highest quoted nominal interest40.00%
Reason(s) why interest rate variesTime as Client, Loan Size, Loan Purpose
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionProcessing FeeTraining Fee
% of loan amount - min3.50%0
% of loan amount - max3.50%0
OR, Fixed amount - min03
Fixed amount - max03
Reason for variationN/AN/A
Appears on Repayment Sched?YesNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
Ins 1
DescriptionClient Welfare Fee
% of loan amount - min1.00%
% of loan amount - max4.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationVaries depending on loan term - 6 to 24 months. Fee is 2% p.a
Appears on Repayment Sched?No
Compulsory Deposit
Required forAll
CriteriaMost loans do not have compulsory savings for old clients
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid8.00%
Maximum interest rate paid8.00%
Interest payment frequencyMonthly
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest1.67%
Highest quoted nominal interest1.67%
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionLACE (Loan Application & Credit Evaluation) Fee
% of loan amount - min2.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation3% for 1st cycle, 2% for multiple cycle loans
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionAnnual Insurance Fee
% of loan amount - min0.63%
% of loan amount - max0.63%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation0.625% per annum.
Appears on Repayment Sched?No
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/A
Is deposit indicated on the repayment schedule?N/A
Do borrowers control deposit in their group?N/A
Deposit BEFORE or AT Disbursement
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Full Pricing Data

Individual samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountGHS 400GHS 600GHS 1,500GHS 3,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-02-182013-03-122013-02-042013-03-12
Loan Term (Months)4.5 months4.5 months7.0 months9.0 months
Grace Period (Months)0.5 months0.4 months0.4 months0.5 months
Total Cost of CreditGHS 80GHS 118.52GHS 342.54GHS 993.52
True Price by Comp       
Interest price component57.6%58.3%52.3%61.7%
Fee Component18.2%17.3%12.0%9.5%
Insurance Component2.7%2.7%2.5%2.8%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component13.0%13.0%11.9%13.1%
Full APR (int fee ins tax dep)91.5%91.3%78.7%87.1%
Transparency Index22222523
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Fanikisha - Imara - Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountKES 29,999.99KES 49,999.94KES 99,999.95KES 199,999.88KES 284,999.99KES 499,999.88
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-05-082013-05-112013-05-292013-05-172013-05-292013-05-13
Loan Term (Months)6.0 months9.0 months12.0 months18.0 months18.0 months18.0 months
Grace Period (Months)-0.1 months0.0 months-0.1 months0.1 months-0.1 months0.1 months
Total Cost of CreditKES 4,039.11KES 9,285.59KES 22,409.87KES 65,249.94KES 92,368.34KES 163,124.94
True Price by Comp           
Interest price component33.3%34.1%34.9%34.1%34.8%34.2%
Fee Component11.0%7.6%4.0%2.7%2.8%2.8%
Insurance Component2.3%1.7%1.3%0.9%0.9%0.8%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)46.6%43.4%40.2%37.7%38.5%37.8%
Transparency Index434650535253
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF
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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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