| Outstanding portfolio (KES) | KES 29,500,723 |
| Portfolio (USD) | USD 356,288.93 |
| Active Clients with Loans | 2,912 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 60% - 80% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | Home-based care training |
| Other (2) | HIV/AIDS counseling |
| No other services |
| 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) |
| # Regions for this institution | 3 |
| # Regions for this product | 3 |
| Regions Active | Nyanza, Rift Valley, Western |
| Currency | KES |
| Minimum loan size | KES 3,000 |
| Maximum loan size | 78,000 |
| Loans less than KES 50,000 | 70% |
| KES 50,000-150,000 | 30% |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 18.0 months |
| Approx average | 9.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 40% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.3 months |
| 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 |
| Lowest quoted nominal interest | 18.00% |
| Highest quoted nominal interest | 36.00% |
| Reason(s) why interest rate varies | Nominal interest rate varies based on the loan term. Shorter term loans attract higher annual rates. |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Loan Application Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 1,000 |
| Fixed amount - max | 1,000 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 400 |
| Fixed amount - max | 0 |
| Reason for variation | First cycle loan pay 400 and multiple cycle loans pay 3% |
| Appears on Repayment Sched? | No |
| Required for | Some |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 20.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 200 |
| Conditions on access to deposit | Access During |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | KES 7,500 | KES 30,000 | KES 55,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-07-15 | 2013-07-15 | 2013-07-15 | ||
| Loan Term (Months) | 5.8 months | 9.0 months | 11.0 months | ||
| Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | ||
| Total Cost of Credit | KES 2,744 | KES 7,299.64 | KES 12,538.24 | ||
| True Price by Comp | |||||
| Interest price component | 65.7% | 45.3% | 34.7% | ||
| Fee Component | 59.3% | 9.6% | 4.0% | ||
| Insurance Component | 18.8% | 7.1% | 5.4% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 89.1% | 95.5% | 65.9% | ||
| Full APR (int fee ins tax dep) | 232.9% | 157.5% | 110.0% | ||
| Transparency Index | 8 | 11 | 16 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.vfcrwanda.com/ |
| Year established | 1999 |
| Head of Institution | Shem Kakembo |
| Regions active | Bugesera, Burera, Gakenke, Gasabo, Gatsibo, Gicumbi, HuyeKayonza, Kicukiro, Kirehe, Musanze, Ngoma, Ngororero, Nyabihu, Nyamagabe, Nyarugenge |
| # Branches | 0 |
| Total Portfolio (nat'l) | RWF 2,223,773,287 |
| Total Portfolio (USD) | USD 3,474,645.76 |
| Active clients with loans | 14,226 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 20% - 40% |
| Network affiliations | AMIR, World Vision International, MAIN, ANAFI |
| Funders | Vision Fund International, Terrafina, KIVA, Triple Jump |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Akarusho (Progress Equipment) Loan | RWF 96,000 - 700,000 | 6 - 36 | 40% - 60% | 0% - 20% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Inyongerabukungu (Grow the Economy) Loan | RWF 500,000 - 2,000,000 | 3 - 24 | 40% - 60% | 0% - 20% | Business | Women, Men, Have business | Credit Ins | |||||||
| Iyambere (Individual Progress) Loan | RWF 500,000 - 4,000,000 | 3 - 24 | 40% - 60% | 60% - 80% | Business | Women, Men, Have business, Must have collateral | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Koramuhinzi (Farmers Please Work) Loan | RWF 10,000 - 300,000 | 3 - 9 | 60% - 80% | 0% - 20% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Ubwizerane (Trust) Loan | RWF 150,000 - 250,000 | 3 - 12 | 40% - 60% | 40% - 60% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training | |||||||
| Urunana (Community Bank) Loan | RWF 30,000 - 495,000 | 3 - 8 | 60% - 80% | 0% - 20% | Business | Women, Men, Have business | Group Mtgs, Credit Ins, Business Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Akarusho (Progress Equipment) Loan | 30.00% annual, Flat | 1 Fee | 1 Ins | None | N/A | 53.6% - 55.6% | 55.5% - 57.9% | 53 | ||||||||
| Inyongerabukungu (Grow the Economy) Loan | 30.00% annual, Flat | 1 Fee | 1 Ins | None | N/A | 37.4% - 59.1% | 41.2% - 63.7% | 61 | ||||||||
| Iyambere (Individual Progress) Loan | 30.00% annual, Flat | 1 Fee | 1 Ins | None | N/A | 44.2% - 58% | 46% - 61.3% | 56 | ||||||||
| Koramuhinzi (Farmers Please Work) Loan | 30.00% annual, Flat | 1 Fee | 1 Ins | None | 20.00% upfront | 37.2% - 37.4% | 51.8% - 52.1% | 57 | ||||||||
| Ubwizerane (Trust) Loan | 30.00% annual, Flat | 1 Fee | 1 Ins | None | 20.00% upfront | 60% - 62.1% | 95.8% - 100.5% | 30 | ||||||||
| Urunana (Community Bank) Loan | 30.00% annual, Flat | 1 Fee | 1 Ins | None | 20.00% upfront | 28.7% - 37.2% | 42% - 51.8% | 61 |
| Key Statistics | |
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| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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