Outstanding portfolio (KES) | KES 209,811,535.90 |
Portfolio (USD) | USD 2,533,955.75 |
Active Clients with Loans | 11,255 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
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 | |
Business training | x |
Other training | x |
Other | Leadership Training |
Other (2) | |
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 | x |
Other | |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Coast |
Currency | KES |
Minimum loan size | KES 5,000 |
Maximum loan size | 1,000,000 |
Loans less than KES 50,000 | 40% |
KES 50,000-150,000 | 30% |
KES 150,000-250,000 | 15% |
KES 250,000-350,000 | 15% |
KES 350,000-450,000 | 0 |
Greater than KES 450,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 36.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 10% |
Between 7 and 9 months | 10% |
Between 10 and 12 months | 40% |
Between 13 and 18 months | 40% |
Longer than 18 months | 0 |
Grace period usage | 100% |
Average grace period | 1.0 month |
Daily | |
Weekly | |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 21.00% |
Highest quoted nominal interest | 21.00% |
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 | Application Fee |
% of loan amount - min | 0 |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 400 |
Fixed amount - max | 0 |
Reason for variation | KES 400 Minimum |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Emergency Fund |
% of loan amount - min | 1.50% |
% of loan amount - max | 1.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | Rural loans <30,000 KES =15%. Loans >30,000 KES = 10%. Urban loans <100,000 KES = 15%. Loans >100,000 KES = 10% |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | Yes |
% loan amount deposited | 10.00% - 15.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | KES 100 |
Conditions on access to deposit | Access During |
Minimum interest rate paid | 2.00% |
Maximum interest rate paid | 4.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | |||||
---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 30,000 | KES 50,000 | KES 100,000 | KES 200,000 | KES 250,000 | ||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
Disbursement Date | 2013-06-10 | 2013-04-25 | 2013-04-08 | 2013-05-09 | 2013-07-30 | ||||
Loan Term (Months) | 12.0 months | 12.0 months | 17.0 months | 17.0 months | 17.0 months | ||||
Grace Period (Months) | 0.5 months | 0.5 months | 0.5 months | 0.5 months | 0.5 months | ||||
Total Cost of Credit | KES 7,150 | KES 11,750 | KES 34,000 | KES 68,000 | KES 85,000 | ||||
True Price by Comp | |||||||||
Interest price component | 37.8% | 37.8% | 38.2% | 38.2% | 38.2% | ||||
Fee Component | 2.7% | 2.1% | 1.4% | 1.4% | 1.4% | ||||
Insurance Component | 3.2% | 3.1% | 2.3% | 2.3% | 2.3% | ||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
Deposit Component | 18.3% | 10.4% | 9.4% | 8.6% | 8.5% | ||||
Full APR (int fee ins tax dep) | 62.0% | 53.4% | 51.3% | 50.5% | 50.4% | ||||
Transparency Index | 34 | 39 | 41 | 42 | 42 | ||||
Original Repayment Schedule | |||||||||
MFT Pricing Calculation |
Institution Type | Non-Governmental Organization |
Is this institution regulated? | Yes |
Website address | http://www.cranmicrofinance.org |
Year established | 1993 |
Head of Institution | Dr. Patrick Agbesingale |
Regions active | Central Region, Western Region, Volta Region |
# Branches | 5 |
Total Portfolio (nat'l) | GHS 2,008,192 |
Total Portfolio (USD) | USD 1,019,386.80 |
Active clients with loans | 3,613 |
Approximate % female clients | 80% - 100% |
Approximate % urban clients | 40% - 60% |
Network affiliations | GHAMFIN, ASSFIN, GAMC |
Funders | CORDAID, TERA JANE, KIVA |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loans | GHS 200 - 3,000 | 4 - 12 | 40% - 60% | 40% - 60% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Savings promotion | |||||||
Individual Loan | GHS 200 - 10,000 | 6 - 12 | 60% - 80% | 40% - 60% | Business | Women, Men, Have business | Credit Educ, Credit Ins, Savings promotion |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loans | 42.00% annual, Flat | 1 Fee | 1 Ins | None | 20.00% upfront | 73.3% - 73.5% | 112.8% - 114% | 37 | ||||||||
Individual Loan | 42.00% annual, Flat | 1 Fee | 1 Ins | None | 20.00% upfront | 72.3% - 73.5% | 106.1% - 112% | 37 |
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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