| Institution Type | Credit Union / Cooperative |
| Is this institution regulated? | No |
| Website address | N/A |
| Year established | 2004 |
| Head of Institution | Akaare Emmanuel |
| Regions active | Northern Region |
| # Branches | 1 |
| Total Portfolio (nat'l) | GHS 64,800 |
| Total Portfolio (USD) | USD 32,893.40 |
| Active clients with loans | 145 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 0% - 20% |
| Network affiliations | CUA, GHAMFIN |
| Funders | SENDFINCO (SEND Ghana) |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | GHS 150 - 10,000 | 1 - 18 | 40% - 60% | 20% - 40% | Business | Women, Men, Have business | Group Mtgs | |||||||
| Microfinance Loan | GHS 120 - 250 | 4 | 80% - 100% | 0% - 20% | Business | Women, must be in a group and in the community | Credit Educ, Group Mtgs |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | 36.00% annual, Decl Bal | 1 Fee | 1 Ins | None | 50.00% upfront | 38.1% - 40.2% | 162.3% - 175.1% | 21 | ||||||||
| Microfinance Loan | 30.00% annual, Flat | 1 Fee | 0 Ins | None | N/A- upfront | 60.9% - 63.6% | 63% - 69.5% | 45 |
| Outstanding portfolio (UGX) | UGX 851,393,941.40 |
| Portfolio (USD) | USD 340,558 |
| Active Clients with Loans | 2,360 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | |
| Solidarity group | x |
| 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 | x |
| Credit insurance | x |
| Workplace visits | |
| 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 | 2 |
| # Regions for this product | 2 |
| Regions Active | Central, Western |
| Currency | UGX |
| Minimum loan size | UGX 100,000 |
| Maximum loan size | 5,000,000 |
| Loans less than UGX 1,000,000 | 80% |
| UGX 1,000,000-5,000,000 | 20% |
| UGX 5,000,000-7,500,000 | 0 |
| UGX 7,500,000-10,000,000 | 0 |
| UGX 10,000,000-13,000,000 | 0 |
| Greater than UGX 13,000,000 | 0 |
| Shortest loan term | 3.0 months |
| Longest loan term | 24.0 months |
| Approx average | 8.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 30% |
| Between 7 and 9 months | 50% |
| Between 10 and 12 months | 20% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 3.00% |
| Highest quoted nominal interest | 3.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Loan Application Fee & Stamp Duty | Loan Commission | |
| % of loan amount - min | 0 | 2.00% | |
| % of loan amount - max | 0 | 2.00% | |
| OR, Fixed amount - min | 10,000 | 0 | |
| Fixed amount - max | 15,000 | 0 | |
| Reason for variation | Ap Fee = 10,000. Stamp Duty = 5,000 for loans > 2M | N/A | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Loan Insurance Premium |
| % of loan amount - min | 0.85% |
| % of loan amount - max | 0.85% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | UGX 250,000 | UGX 800,000 | UGX 1,500,000 | UGX 2,500,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2012-11-12 | 2012-11-13 | 2012-10-22 | 2012-10-23 | |||
| Loan Term (Months) | 6.0 months | 6.0 months | 10.0 months | 10.0 months | |||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||
| Total Cost of Credit | UGX 62,125 | UGX 176,800 | UGX 502,750 | UGX 836,250 | |||
| True Price by Comp | |||||||
| Interest price component | 58.2% | 58.2% | 59.5% | 59.4% | |||
| Fee Component | 22.4% | 11.9% | 6.4% | 6.3% | |||
| Insurance Component | 3.3% | 3.2% | 2.1% | 2.0% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 15.9% | 13.6% | 12.5% | 12.5% | |||
| Full APR (int fee ins tax dep) | 99.8% | 86.9% | 80.5% | 80.2% | |||
| Transparency Index | 36 | 41 | 45 | 45 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Key Statistics | |
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % 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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