Equity Bank - Business Loan - MFTransparency.org Truth In Lending Tables

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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: 145 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (KES)	KES 58,938,425
Portfolio (USD)	USD 711,816.73
Active Clients with Loans	339
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	40% - 60%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

For investing in Kenyan enterprise. A credit facility designed to cater for business clients based on the analysis of business performance.

Loan Purpose

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

Included Services

Credit education
Group meetings
Credit insurance	x
Workplace visits
Business training
Other training
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	Operated the business for over a year
Other (2)	Active account for over 6 mos with Equity or other bank

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	8
# Regions for this product	7
Regions Active	Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western

Loan Conditions

Loan Amount

Currency	KES
Minimum loan size	KES 300,000
Maximum loan size	4,000,000,000

Distribution at Disbursement (Est.)

Loans less than KES 50,000	0
KES 50,000-150,000	0
KES 150,000-250,000	0
KES 250,000-350,000	5%
KES 350,000-450,000	50%
Greater than KES 450,000	50%

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	60.0 months
Approx average	18.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	0
Between 7 and 9 months	0
Between 10 and 12 months	5%
Between 13 and 18 months	15%
Longer than 18 months	80%

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	18.00%
Highest quoted nominal interest	20.00%
Reason(s) why interest rate varies	Loan Size, Client Risk
Interest rate period	Yearly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	LACE (Loan Application & Credit Evaluation) Fee
% of loan amount - min	2.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	3% 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
Description	Annual Insurance Fee
% of loan amount - min	0.63%
% of loan amount - max	0.63%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	0.625% per annum.
Appears on Repayment Sched?	No

Ongoing 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

Are taxes charged on this product?

Full Pricing Data

Business Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	KES 310,000	KES 400,000	KES 500,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2013-05-28	2013-05-31	2013-05-17
Loan Term (Months)	12.0 months	12.0 months	36.0 months
Grace Period (Months)	0.3 months	0.2 months	0.0 months
Total Cost of Credit	KES 42,798.16	KES 59,223.56	KES 181,536.95
True Price by Comp
Interest price component	19.0%	19.3%	19.8%
Fee Component	3.7%	5.7%	1.5%
Insurance Component	1.2%	1.2%	0.5%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	23.9%	26.2%	21.8%
Transparency Index	75	69	83

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

Business Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AGFS	200	47,000	2	161
Ahantaman RB	23,800	9,896,000	4	143
APED	13,700	1,876,000	2	143
ASA Initiative	4,400	577,000	4	143
ASA-Ghana	71,600	18,385,000	2	143
ASPI	800	88,000	6	143
Atwima Kwanwoma	3,800	1,788,000	2	143
Baobab	5,100	967,000	2	143
BestFUND	13,000	4,172,000	3	143
Bonzali Rural	10,400	1,691,000	4	161
CashPhase	83	135,000	2	143
CASUD	1,100	524,000	1	143
CEDEF	500	54,000	4	143
CFF	100	13,000	1	143
CRAN	3,600	1,019,000	2	143
DQF	1,700	63,000	2	143
EASL	9,200	11,409,000	6	143
East Mamprusi	12,500	2,268,000	4	143
ELDA	0	0	0	143
EMPRETEC Ghana	200	56,000	2	143
FASL	13,500	14,047,000	8	143
Grameen Ghana	9,500	507,000	3	143
ID-Ghana	5,600	953,000	3	143
Innovative Finance	2,700	354,000	3	143
Kraban Support	7,700	781,000	5	161
KRB	4,000	6,350,000	3	143
Lower Pra RB	34,000	6,316,000	3	161
Maata-N-Tudu	12,000	941,000	4	143
Mail Finance	300	288,000	1	143
Markaz	0	0	0	143
Markaz Al Bishara	100	17,000	1	143
MicrofinPlus Gh	1,100	251,000	2	143
Nwabiagya RB	4,000	2,265,000	3	143
OISL	62,000	27,232,000	9	143
Pro Credit	0	0	0	143
Rich Step	100	101,000	1	143
SAT	147,600	29,359,000	4	143
Sekam Trust	600	137,000	2	143
Simli Pong	8,900	463,000	3	161
SS Ghana	200	35,000	1	143
TCCU	100	32,000	3	143
The Bridge	400	32,000	3	161
Union RB	3,800	2,361,000	4	143

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
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	Less or equal 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

Business Loan samples

Business Loan Price Graphs

Total Borrowers of Samples

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