Outstanding portfolio (KES) | KES 200,000,000 |
Portfolio (USD) | USD 2,415,458.94 |
Active Clients with Loans | 2,700 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | x |
Other | Book-keeping skills |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | x |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | KES |
Minimum loan size | KES 5,000 |
Maximum loan size | 1,000,000 |
Shortest loan term | 6.0 months |
Longest loan term | 24.0 months |
Approx average | 12.0 months |
Grace period usage | 0 |
Average grace period | 0 |
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 |
Lowest quoted nominal interest | 8.00% |
Highest quoted nominal interest | 8.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Processing Fee | Legal Fee | |
% of loan amount - min | 1.00% | 0 | |
% of loan amount - max | 1.00% | 0 | |
OR, Fixed amount - min | 0 | 0 | |
Fixed amount - max | 0 | 2,000 | |
Reason for variation | N/A | Applied to amounts above KES 100,000 | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | 0.3% of the loan amount x number of months |
Appears on Repayment Sched? | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 10,000 | KES 25,000 | KES 50,000 | KES 100,000 | KES 200,000 | KES 300,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2009-12-09 | 2010-02-04 | 2010-01-20 | 2010-01-07 | 2009-12-01 | 2009-12-16 | |||||
Loan Term (Months) | 12.0 months | 8.0 months | 6.0 months | 12.0 months | 24.0 months | 24.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
True Price by Comp | |||||||||||
Interest and Fee Component | 16.7% | 17.0% | 17.7% | 16.5% | 17.5% | 17.3% | |||||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 16.7% | 17.0% | 17.7% | 16.5% | 17.5% | 17.3% | |||||
Transparency Index | 48 | 47 | 45 | 48 | 46 | 46 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | http://www.bestfundghana.org |
Year established | 2005 |
Head of Institution | Dr. Emmanuel Shaft Boamah |
Regions active | Greater Accra Region, Ashanti Region |
# Branches | 3 |
Total Portfolio (nat'l) | GHS 8,220,420 |
Total Portfolio (USD) | USD 4,172,802.03 |
Active clients with loans | 13,064 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 0% - 20% |
Network affiliations | GHAMFIN, ASSFIN, AMT |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Capacity Loan | GHS 3,000 - 8,000 | 6 - 10 | 60% - 80% | 0% - 20% | Business, Education | Women, Men, Have business, Salaried worker | Credit Ins, Tech Asst Visits | |||||||
Group Loan | GHS 2,000 - 10,000 | 5 - 8 | 80% - 100% | 0% - 20% | Business, Education, Land | Women, Men, Have business, Salaried worker | Group Mtgs, Tech Asst Visits | |||||||
Individual Loan | GHS 500 - 1,000 | 4 - 6 | 60% - 80% | 0% - 20% | Business | Women, Men, Have business | Credit Ins |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Capacity Loan | 36.0%-96.0% annual, Flat | 1 Fee | 0 Ins | None | 10.0% upfront | 64.5% - 68% | 74.9% - 78.8% | 47 | ||||||||
Group Loan | 36.0%-96.0% annual, Flat | 1 Fee | 0 Ins | None | 10.0% upfront | 59% - 70.2% | 68.1% - 81.6% | N/A | ||||||||
Individual Loan | 36.0%-96.0% annual, Flat | 1 Fee | 0 Ins | None | 10.0% upfront | 62.3% - 69.1% | 72.1% - 80.2% | 47 |
Key Statistics | |
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Loan Portfolio (USD) | |
% Products using declining balance | |
% Products with one or more fee | |
% Products with one or more insurances | |
% Products with compulsory deposits |
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