Finance Cooperative Limited - Mpamba (Individual Business Loan) - MFTransparency.org Truth In Lending Tables

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Institution

Finance Cooperative Limited ADL House, 3rd FloorCity CenterLilongwe, Central

Data approved: 2011-01-31

Data version: 1

Age of data: - months

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Product

Mpamba (Individual Business Loan) Product 1 of 5 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (MWK)	MWK 218,000,000
Portfolio (USD)	USD 1,453,333
Active Clients with Loans	9,968
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Business loan for individuals living in urban and rural areas. The loan is solely for business purposes.\r

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
Credit insurance	x
Workplace visits
Business training	x
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)

# Borrowers by Product

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	MWK
Minimum loan size	MWK 10,000
Maximum loan size	1,500,000

Loan Term and Grace Period

Shortest loan term	2.0 months
Longest loan term	12.0 months
Approx average	6.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	N/A
Between 4 and 6 months	N/A
Between 7 and 9 months	N/A
Between 10 and 12 months	N/A
Between 13 and 18 months	N/A
Longer than 18 months	N/A

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	32.00%
Highest quoted nominal interest	32.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	N/A
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Processing 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
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Insurance premium
% 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?

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/A
Is deposit indicated on the repayment schedule?	N/A
Do borrowers control deposit in their group?	N/A

Deposit BEFORE or AT Disbursement

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Mpamba (Individual Business Loan) samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	MWK 12,500	MWK 29,250	MWK 60,000	MWK 120,000	MWK 225,000	MWK 350,000
Loan Cycle (1, 2, 3, etc)	3	1	1	9	3	16
Disbursement Date	2012-12-12	2012-07-21	2012-08-21	2012-09-06	2012-08-08	2012-07-04
Loan Term (Months)	5.0 months	4.0 months	10.0 months	10.0 months	10.0 months	10.0 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	66.6%	66.1%	61.7%	62.4%	0.0%	62.1%
Insurance Component	9.4%	10.9%	5.2%	5.2%	67.7%	5.2%
Tax Component	0.0%	0.0%	0.0%	0.0%	-67.7%	0.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%	67.7%	0.0%
Full APR (int fee ins tax dep)	76.0%	77.0%	66.8%	67.7%	67.7%	67.4%
Transparency Index	42	42	48	47	47	48

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF	PDF

Mpamba (Individual Business Loan) Price Graphs

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Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AGFS	200	47,000	2	156
Ahantaman RB	23,800	9,896,000	4	138
APED	13,700	1,876,000	2	138
ASA Initiative	4,400	577,000	4	138
ASA-Ghana	71,600	18,385,000	2	138
ASPI	800	88,000	6	138
Atwima Kwanwoma	3,800	1,788,000	2	138
Baobab	5,100	967,000	2	138
BestFUND	13,000	4,172,000	3	138
Bonzali Rural	10,400	1,691,000	4	156
CashPhase	83	135,000	2	138
CASUD	1,100	524,000	1	138
CEDEF	500	54,000	4	138
CFF	100	13,000	1	138
CRAN	3,600	1,019,000	2	138
DQF	1,700	63,000	2	138
EASL	9,200	11,409,000	6	138
East Mamprusi	12,500	2,268,000	4	138
ELDA	0	0	0	138
EMPRETEC Ghana	200	56,000	2	138
FASL	13,500	14,047,000	8	138
Grameen Ghana	9,500	507,000	3	138
ID-Ghana	5,600	953,000	3	138
Innovative Finance	2,700	354,000	3	138
Kraban Support	7,700	781,000	5	156
KRB	4,000	6,350,000	3	138
Lower Pra RB	34,000	6,316,000	3	156
Maata-N-Tudu	12,000	941,000	4	138
Mail Finance	300	288,000	1	138
Markaz	0	0	0	138
Markaz Al Bishara	100	17,000	1	138
MicrofinPlus Gh	1,100	251,000	2	138
Nwabiagya RB	4,000	2,265,000	3	138
OISL	62,000	27,232,000	9	138
Pro Credit	0	0	0	138
Rich Step	100	101,000	1	138
SAT	147,600	29,359,000	4	138
Sekam Trust	600	137,000	2	138
Simli Pong	8,900	463,000	3	156
SS Ghana	200	35,000	1	138
TCCU	100	32,000	3	138
The Bridge	400	32,000	3	156
Union RB	3,800	2,361,000	4	138

Key Statistics
# Samples:
# Products
# Institutions
# Countries
# Borrowers
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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Total Borrrowers of Samples


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