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Institution
Data approved: 2011-12-07
Data version: 1
Age of data: - months
Key Statistics
Outstanding portfolio (GHS) | GHS 18,575 |
Portfolio (USD) | USD 12,383 |
Active Clients with Loans | 464 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 0% - 20% |
Methodology
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | Association (Village Banking)\r |
Description
This loan is basically to empower the rural poor, mainly women to have access to finance to do their businesses and take care of their families.\r
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 | x |
Credit insurance | |
Workplace visits | |
Business training | |
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 | must be in a group and in the community |
Other (2) | |
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 80 |
Maximum loan size | GHS 100 |
Loan Term and Grace Period
Shortest loan term | 4.0 months |
Longest loan term | 4.0 months |
Approx average | 4.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | N/A |
Between 4 and 6 months | N/A |
Between 7 and 9 months | N/A |
Between 10 and 12 months | N/A |
Between 13 and 18 months | N/A |
Longer than 18 months | N/A |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | |
Weekly | x |
Every 2 weeks | |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | |
Pricing Information
Interest
Lowest quoted nominal interest | 2.75% |
Highest quoted nominal interest | 2.75% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | N/A |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Pass Book fee |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 1 |
Fixed amount - max | 1 |
Reason for variation | |
Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | Never |
Criteria | N/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 deposited | N/A |
or, Fixed-amount deposited | N/A |
Deposits DURING period payments
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Interest Paid on Deposit
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Compulsory savings is based on a solidarity groups agreement. So there is no amount or percentage of savings given by the credit union.
Full Pricing Data
Microfinance Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
---|
Loan Amount | GHS 80 | | GHS 100 | | GHS 100 |
Loan Cycle (1, 2, 3, etc) | 5 | | 5 | | 5 |
Disbursement Date | 2013-03-19 | | 2013-03-19 | | 2013-03-19 |
Loan Term (Months) | 3.7 months | | 3.7 months | | 3.7 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 | 66.0% | | 64.5% | | 64.5% |
Insurance Component | 0.0% | | 0.0% | | 0.0% |
Tax Component | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 0.0% | | 0.0% | | 0.0% |
Full APR (int fee ins tax dep) | 66.0% | | 64.5% | | 64.5% |
Transparency Index | 50 | | 51 | | 51 |
| | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF |
Microfinance Loan Price Graphs