| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | No |
| Website address | N/A |
| Year established | 1996 |
| Head of Institution | Mr Gulbaz Afaqi |
| Regions active | Punjab |
| # Branches | 3 |
| Total Portfolio (nat'l) | PKR 85,584,088 |
| Total Portfolio (USD) | USD 873,307.02 |
| Active clients with loans | 4,193 |
| Approximate % female clients | 20% - 40% |
| Approximate % urban clients | 0 |
| Network affiliations | Pakistan Microfinance Network, PMFN, MONPAK, HRDN |
| Funders | Pakistan Poverty Alleviation Fund, One UN GRIP, OPP/OCT |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agriculture | PKR 20,000 - 75,000 | 6 - 18 | 20% - 40% | 0% | Agriculture | Women, Men | ||||||||
| Livestock | PKR 15,000 - 30,000 | 12 | 40% - 60% | 0% | Business | Women, Men | ||||||||
| Livestock Fattening | PKR 20,000 - 30,000 | 6 - 11 | 40% - 60% | 0% | Business | Women, Men | Credit Ins, Tech Asst Visits | |||||||
| Handicrafts | PKR 15,000 - 30,000 | 12 | 80% - 100% | 0% | Business | Women, Men, Have business | ||||||||
| Trade Business | PKR 10,000 - 70,000 | 12 | 20% - 40% | 0% | Business | Women, Men, Have business | ||||||||
| Solar Lighting | PKR 15,000 - 30,000 | 6 - 12 | 20% - 40% | 0% | Any Purpose | Women, Men |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agriculture | 21.0%-24.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 40.7% | 40.7% | N/A | ||||||||
| Livestock | 21.0%-24.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 40.7% - 40.9% | 40.7% - 40.9% | N/A | ||||||||
| Livestock Fattening | 21.0%-24.0% annual, Flat | 1 Fee | 1 Ins | None | None | 25.8% | 29% | N/A | ||||||||
| Handicrafts | 21.0%-24.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 40.3% - 40.9% | 40.3% - 40.9% | N/A | ||||||||
| Trade Business | 21.0%-24.0% annual, Flat | 1 Fee | 0 Ins | None | N/A | 40.7% - 40.9% | 40.7% - 40.9% | N/A | ||||||||
| Solar Lighting | 36.0% annual, Decl Bal | 1 Fee | 0 Ins | None | N/A | 40.3% - 40.9% | 40.3% - 40.9% | N/A |
| Outstanding portfolio (MWK) | MWK 12,059,498.45 |
| Portfolio (USD) | USD 30,921.79 |
| Active Clients with Loans | 54 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 80% - 100% |
| 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 | Not unacceptable businesses e.g beer brewing, tobacco, charcoal. |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| 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 | |
| Other | |
| Other (2) |
| # Regions for this institution | 10 |
| # Regions for this product | 2 |
| Regions Active | Lilongwe, Blantyre |
| Currency | MWK |
| Minimum loan size | MWK 5,000 |
| Maximum loan size | 2,000,000 |
| Loans less than MWK 50,000 | 0 |
| MWK 50,000-150,000 | 5% |
| MWK 150,000-250,000 | 15% |
| MWK 250,000-350,000 | 40% |
| MWK 350,000-450,000 | 40% |
| Greater than MWK 450,000 | 40% |
| Shortest loan term | 4.0 months |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 70% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 10% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 10 days |
| 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 |
| Lowest quoted nominal interest | 3.50% |
| Highest quoted nominal interest | 3.50% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Application Fee | Registration Fee | |
| % of loan amount - min | 3.50% | 0 | |
| % of loan amount - max | 3.50% | 0 | |
| OR, Fixed amount - min | 0 | 500 | |
| Fixed amount - max | 0 | 500 | |
| Reason for variation | N/A | Only for 1st-cycle loans | |
| Appears on Repayment Sched? | No | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 10.00% |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 3.00% |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | Quarterly |
| Are taxes charged on this product? | No |
| Sample 4 | Sample 5 | Sample 6 | |||
|---|---|---|---|---|---|
| Loan Amount | MWK 100,000 | MWK 300,000 | MWK 500,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-11-23 | 2012-07-30 | 2013-01-25 | ||
| Loan Term (Months) | 6.0 months | 6.0 months | 8.0 months | ||
| Grace Period (Months) | 0.4 months | 0.4 months | 0.3 months | ||
| Total Cost of Credit | MWK 25,000 | MWK 74,000 | MWK 158,000 | ||
| True Price by Comp | |||||
| Interest price component | 61.1% | 60.6% | 64.0% | ||
| Fee Component | 13.4% | 12.2% | 9.9% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 18.7% | 18.2% | 19.0% | ||
| Full APR (int fee ins tax dep) | 93.2% | 91.0% | 92.9% | ||
| Transparency Index | 45 | 46 | 45 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| N (# of Samples) | ||||||
| Total Borrrowers of Samples | ||||||
| Avg | ||||||
| Min | ||||||
| Max | ||||||
| Std Dev | ||||||
| By Inst Type | ||||||
| By Country | ||||||
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| From 0 to | ||||||
| to | ||||||
| to | ||||||
| to ∞ | ||||||
