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Institution
Data approved: 2011-12-23
Data version: 1
Age of data: 159 months
Key Statistics
| Outstanding portfolio (ETB) | ETB 4,500,000 |
| Portfolio (USD) | USD 244,565.22 |
| Active Clients with Loans | 1,500 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 60% - 80% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
This is a loan for business purposes, delivered in groups. Collateral is needed and it is repaid monthly, with an interest rate of 22% and loan term of 12-24 months.
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 | 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 | |
| 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 | ETB |
| Minimum loan size | ETB 1,000 |
| Maximum loan size | 18,000 |
Loan Term and Grace Period
| Shortest loan term | 12.0 months |
| Longest loan term | 24.0 months |
| Approx average | 12.0 months |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
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 | x |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 20.00% |
| Highest quoted nominal interest | 20.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Service Charge |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Loan Insurance |
| % of loan amount - min | 0 |
| % of loan amount - max | 1.50% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | <1000 ETB=1%,<2000 birr=1.2%,<3000 ETB=1.3%, <4000ETB=1.4%, <5000 ETB=1.5%. Over 5000 ETB=0 |
| Appears on Repayment Sched? | Yes |
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? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 5.00% - 15.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 5.00% - 15.00% |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 5.00% |
| Maximum interest rate paid | 5.00% |
| Interest payment frequency | Annually |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
Compulsory savings: <5000 ETB = 15%, <10,000 ETB Loan = 10%, >1 10,000 ETB Loan = 5%. Client deposits monthly the same amount, e.g 15% upfront plus 15% over the term of the loan in monthly installments. Interest savings is compounded semi-annually.
Full Pricing Data
Business Loan - Group samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | ETB 1,000 | | ETB 2,000 | | ETB 5,000 | | ETB 5,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2010-06-22 | | 2010-06-22 | | 2011-07-01 | | 2010-06-21 |
| Loan Term (Months) | 6.1 months | | 6.1 months | | 3.0 months | | 12.1 months |
| Grace Period (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 |
| True Price by Comp | | | | | | | |
| Interest and Fee Component | 45.6% | | 45.6% | | 35.7% | | 41.4% |
| Insurance Component | 4.2% | | 4.2% | | 5.4% | | 2.2% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 6.3% | | 6.3% | | 2.1% | | 5.6% |
| Full APR (int fee ins tax dep) | 56.0% | | 56.0% | | 43.2% | | 49.2% |
| Transparency Index | 36 | | 36 | | 46 | | 41 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Business Loan - Group Price Graphs
