Business Initiative and Management Assistance Services - Mifugo Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 142 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Business Initiative and Management Assistance Services P.O. Box 2299 60100Embu, Central

Data approved: 2013-07-16

Data version: 2

Age of data: 142 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (KES)	KES 6,247,245
Portfolio (USD)	USD 75,449.82
Active Clients with Loans	176
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	40% - 60%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

This is an agribusiness loan primarily for dairy farmers.

Loan Purpose

Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture	x
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits
Business training	x
Other training	x
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
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	4
# Regions for this product	4
Regions Active	Central, Eastern, Nairobi, Rift Valley

Loan Conditions

Loan Amount

Currency	KES
Minimum loan size	KES 50,000
Maximum loan size	100,000

Distribution at Disbursement (Est.)

Loans less than KES 50,000	20%
KES 50,000-150,000	80%
KES 150,000-250,000	0
KES 250,000-350,000	0
KES 350,000-450,000	0
Greater than KES 450,000	0

Loan Term and Grace Period

Shortest loan term	9.0 months
Longest loan term	12.0 months
Approx average	12.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	0
Between 7 and 9 months	50%
Between 10 and 12 months	50%
Between 13 and 18 months	0
Longer than 18 months	0

Grace Period

Grace period usage	10%
Average grace period	0.3 months

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	22.00%
Highest quoted nominal interest	22.00%
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
Description	Application Fee
% of loan amount - min	2.00%
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Insurance Fee
% of loan amount - min	2.50%
% of loan amount - max	2.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

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?	Yes
Do borrowers control deposit in their group?	Yes

Deposit BEFORE or AT Disbursement

% loan amount deposited	25.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	KES 100
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	0.33%
Maximum interest rate paid	0.50%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Mifugo Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	KES 50,000	KES 50,000	KES 80,000	KES 80,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2013-04-23	2013-01-31	2013-06-27	2013-06-17
Loan Term (Months)	10.0 months	6.0 months	12.0 months	12.0 months
Grace Period (Months)	0.5 months	0.5 months	0.5 months	0.5 months
Total Cost of Credit	KES 11,050	KES 7,750	KES 21,200	KES 21,200
True Price by Comp
Interest price component	38.4%	36.7%	38.8%	38.8%
Fee Component	4.9%	7.3%	4.1%	4.1%
Insurance Component	6.4%	9.3%	5.2%	5.2%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	42.3%	43.1%	38.2%	38.2%
Full APR (int fee ins tax dep)	92.0%	96.4%	86.3%	86.3%
Transparency Index	24	23	25	25

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

Mifugo Loan Price Graphs

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Please note that the information you are viewing is 172 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Seba Rahara C/O - Reba BhowalDakshinpalli Canal Side Road, P.O. Rahara, Dist 24 Pgs (N)Kolkata, West Bengal700 118

Data approved: 2010-10-25

Data version: 1

Age of data: 172 months

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Institution Details

Institution Type	Non-Governmental Organization
Is this institution regulated?	No
Website address	N/A
Year established	2006
Head of Institution	Ranjib Kumar Ghosh
Regions active
# Branches	6

Total Portfolio (nat'l)	INR 24,841,151
Total Portfolio (USD)	USD 468,700.96
Active clients with loans	6,782
Approximate % female clients	80% - 100%
Approximate % urban clients	20% - 40%
Network affiliations

Loan Products » Summary

Income

6,782 Borrowers

USD 468,700.96 Portfolio

Active Product

Loan Products » Conditions

Product Name		Loan Size Range		Loan Term (months)		% Female		% Urban		Loan Purpose		Eligibility		Other Services
Income Generating Loan		INR 3,000 - 15,000		8.6		80% - 100%		20% - 40%		Business		Women		Credit Educ, Group Mtgs, Credit Ins

Loan Products » MFIN India Additional Information

Product Name		APR (int)		MFIN MFI Earning (Annualised)		MFIN Cost to Borrower (Annualised)		COMPLIANCE WITH RBI GUIDELINES ON INTEREST METHOD		COMPLIANCE WITH RBI GUIDELINES ON PROCESSING FEES		COMPLIANCE WITH RBI GUIDELINES ON INSURANCE PREMIUM		MFIN Transparency Index
Income Generating Loan		0		32.1%		42.8%								N/A

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Loan Products » Pricing Information

Product Name		Annual Nominal Interest		Fees		Insurance		Taxes		Compulsory Deposit		APR (int+fee)		Full APR		Transparency Index
Income Generating Loan		11.0% annual, Flat		1 Fee		1 Ins		None		10.0% upfront		32.1%		42.8%		26

Institution Price Graph

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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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
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Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Mifugo Loan samples

Mifugo Loan Price Graphs

Institution

Institution Details

Loan Products » Summary

Loan Products » Conditions

Loan Products » MFIN India Additional Information

Loan Products » Pricing Information

Institution Price Graph

Total Borrowers of Samples

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