| Institution Type | Credit Union / Cooperative |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 2004 |
| Head of Institution | Kingsley Mulewa |
| Regions active | Lilongwe, Mchinji, Salima, Mzimba, Blantyre |
| # Branches | 5 |
| Total Portfolio (nat'l) | MWK 106,822,473.20 |
| Total Portfolio (USD) | USD 273,903.78 |
| Active clients with loans | 4,221 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | MUSCCO, MAMN |
| Funders | Hivos, Cordaid, MUSSCO |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mpamba (Individual Business Loan) | MWK 6,000 - 1,500,000 | 3 - 12 | 40% - 60% | 60% - 80% | Business, Housing, Consumer, Education | Women, Men, Have business, Have home or land | Credit Educ, Credit Ins, Business Training | |||||||
| Mwai wa Mayi (Female Group Loan) | MWK 5,000 - 500,000 | 6 | 80% - 100% | 60% - 80% | Business | Women, Have business | Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training | |||||||
| Phindu (Group Business) | MWK 5,000 - 500,000 | 6 - 12 | 20% - 40% | 20% - 40% | Business | Women, Men, Have business, Salaried worker | Credit Educ, Group Mtgs, Credit Ins, Business Training | |||||||
| Pompopompo (Emergency Loan) | MWK 1,120 - 30,000 | 2 - 5 | 40% - 60% | 80% - 100% | Other | Women, Men, Have business, Salaried worker | Credit Educ, Credit Ins | |||||||
| Umphawi (Share Oriented Loan) | MWK 5,000 - 1,500,000 | 3 - 12 | 0% - 20% | 20% - 40% | Any Purpose | Women, Men, Have business, Salaried worker | ||||||||
| Payroll Loan | MWK 5,000 - 1,500,000 | 3 - 12 | 20% - 40% | 40% - 60% | Any Purpose | Women, Men, Salaried worker | Credit Educ |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mpamba (Individual Business Loan) | 32.00%-42.00% annual, Flat | 1 Fee | 1 Ins | None | 50.00% upfront | 60.1% - 78.9% | 187.8% - 297% | 12 | ||||||||
| Mwai wa Mayi (Female Group Loan) | 45.00% annual, Flat | 1 Fee | 1 Ins | None | 33.33% upfront | 82.1% - 82.8% | 177% - 177.8% | 25 | ||||||||
| Phindu (Group Business) | 45.00% annual, Flat | 1 Fee | 1 Ins | None | 33.33% upfront | 82.3% - 83.4% | 176.4% - 179.8% | 25 | ||||||||
| Pompopompo (Emergency Loan) | 36.00% annual, Flat | 1 Fee | 1 Ins | None | 50.00% upfront | 79.4% - 83.5% | 298.2% - 308.4% | 11 | ||||||||
| Umphawi (Share Oriented Loan) | 42.00% annual, Flat | 1 Fee | 1 Ins | None | 50.00% upfront | 74.8% - 79% | 233.9% - 303.8% | 15 | ||||||||
| Payroll Loan | 38.00% annual, Flat | 1 Fee | 1 Ins | None | 50.00% upfront | 68.8% - 74% | 223.1% - 291.3% | 16 |
| Outstanding portfolio (INR) | INR 1,285,427 |
| Portfolio (USD) | USD 24,253.34 |
| Active Clients with Loans | 1,236 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | x |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | Jagruthi- Client Education Series |
| Other (2) | Socio-Economic Development Workshop |
| No other services |
| Men | |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | |
| Must lives in urban area | |
| Other | |
| Other (2) |
| # Regions for this institution | 3 |
| # Regions for this product | 1 |
| Regions Active | Karnataka |
| Currency | INR |
| Minimum loan size | INR 1,250 |
| Maximum loan size | 1,250 |
| Loans less than INR 5,000 | 100% |
| INR 5,000-15,000 | 0 |
| INR 15,000-25,000 | 0 |
| INR 25,000-35,000 | 0 |
| INR 35,000-45,000 | 0 |
| Greater than INR 45,000 | 0 |
| Shortest loan term | 5.6 months |
| Longest loan term | 5.6 months |
| Approx average | 5.6 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.2 months |
| Daily | |
| Weekly | x |
| 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 | 24.00% |
| Highest quoted nominal interest | 24.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| 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? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 1,250 | INR 1,250 | INR 1,250 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-04-16 | 2013-04-16 | 2013-04-16 | ||
| Loan Term (Months) | 5.6 months | 5.6 months | 5.6 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | INR 90.05 | INR 90.05 | INR 90.05 | ||
| True Price by Comp | |||||
| Interest price component | 24.2% | 24.2% | 24.2% | ||
| Fee Component | 4.1% | 4.1% | 4.1% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.6% | 0.6% | 0.6% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 28.9% | 28.9% | 28.9% | ||
| MFIN MFI Earning (Annualised) | 28.3% | 28.3% | 28.3% | ||
| MFIN Cost to Borrower (Annualised) | 28.9% | 28.9% | 28.9% | ||
| Transparency Index | 83 | 83 | 83 | ||
| MFIN Transparency Index | 99 | 99 | 99 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
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| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % 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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