| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | Yes |
| Website address | http://www.microoption.org |
| Year established | 2009 |
| Head of Institution | Shazia Abbas |
| Regions active | Islambad Capital Territory, Punjab |
| # Branches | 5 |
| Total Portfolio (nat'l) | PKR 78,225,144 |
| Total Portfolio (USD) | USD 768,170.91 |
| Active clients with loans | 4,024 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 20% - 40% |
| Network affiliations | Punjab Microfinance Network, Pakistan Microfinance Network, Human Resouce Development Network (HRDN) |
| Funders | Pakistan Poverty Alleviation Fund, Plan Pakistan/NRSP, Institute of Rural Management (IRM), Philonthrophist / Individual Donations |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Livestock Loan | PKR 5,000 - 75,000 | 12 | 40% - 60% | 0% - 20% | Business | Women, Men, Have business, Specific age group | Group Mtgs, Tech Asst Visits, Other Training | |||||||
| Commerce Loan | PKR 5,000 - 30,000 | 12 | 20% - 40% | 60% - 80% | Business | Women, Men, Have business, Specific age group | Group Mtgs, Tech Asst Visits, Other Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Livestock Loan | 26.0%-31.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 32.9% - 34% | 32.9% - 34% | 78 | ||||||||
| Commerce Loan | 26.0%-31.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 33.8% - 36.3% | 33.8% - 36.3% | 74 |
| Outstanding portfolio (USD) | USD 1,252,680 |
| Portfolio (USD) | USD 1,252,680 |
| Active Clients with Loans | 241 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 60% - 80% |
| Individual | x |
| Solidarity group | |
| 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 | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | x |
| 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 | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | USD |
| Minimum loan size | USD 3,001 |
| Maximum loan size | 10,000 |
| Shortest loan term | 6.0 months |
| Longest loan term | 36.0 months |
| Approx average | 24.0 months |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 19.55% |
| Highest quoted nominal interest | 19.55% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Seguro de Desgravamen |
| % of loan amount - min | 0.40% |
| % of loan amount - max | 0.40% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | USD 5 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 2.00% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | USD 4,000 | USD 4,000 | USD 6,500 | USD 8,200 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2010-09-03 | 2010-08-25 | 2010-08-31 | 2010-07-26 | |||
| Loan Term (Months) | 18.0 months | 24.0 months | 30.0 months | 12.0 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 | 20.4% | 19.6% | 19.9% | 19.9% | |||
| Insurance Component | 1.0% | 1.0% | 1.0% | 0.9% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 0.3% | 0.4% | 0.3% | 0.1% | |||
| Full APR (int fee ins tax dep) | 21.8% | 21.0% | 21.3% | 20.9% | |||
| Transparency Index | 90 | 93 | 92 | 94 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
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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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