Aakay ang MILAMDEC Microfinance Foundation, Inc - Regular Loan - MFTransparency.org Truth In Lending Tables

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Institution

Aakay ang MILAMDEC Microfinance Foundation, Inc #27 Dahlia StreetIlaya CarmenCagayan de Oro City, Misamis Oriental/Region X9000

Data approved: 2011-11-15

Data version: 1

Age of data: 158 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 124,052,263
Portfolio (USD)	USD 2,967,757.49
Active Clients with Loans	28,869
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group
Village banking
Self help group	x
Other

Description

Microfinance Loan meant to finance income generating projects

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	x
Credit insurance	x
Workplace visits	x
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	x
Must be a salaried worker	x
Must be specific age group	x
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	PHP
Minimum loan size	PHP 3,000
Maximum loan size	130,000

Loan Term and Grace Period

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

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly	x
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	20.00%
Highest quoted nominal interest	20.00%
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	Service Charge	Notarial Fee
% of loan amount - min	2.00%	1.00%
% of loan amount - max	2.00%	1.00%
OR, Fixed amount - min	0	0
Fixed amount - max	0	0
Reason for variation		N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	MILAMDEC Tibod Mutual Benefits
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	150
Fixed amount - max	150
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	Yes
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	30.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	PHP 50
Conditions on access to deposit	Access During

Interest Paid on Deposit

Minimum interest rate paid	4.00%
Maximum interest rate paid	4.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Regular Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	PHP 3,000	PHP 7,000	PHP 15,000	PHP 30,000	PHP 60,000	PHP 100,000
Loan Cycle (1, 2, 3, etc)	1	2	5	10	18	Not Known
Disbursement Date	2011-05-19	2011-05-17	2011-06-09	2011-05-30	2011-05-24	2011-05-19
Loan Term (Months)	5.6 months	5.6 months	6.0 months	12.0 months	5.6 months	5.6 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	92.7%	92.7%	101.5%	78.4%	92.7%	92.7%
Insurance Component	24.4%	17.2%	5.4%	1.3%	2.0%	1.2%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	46.7%	15.4%	6.8%	2.3%	1.4%	0.8%
Full APR (int fee ins tax dep)	163.7%	125.2%	113.7%	82.0%	96.0%	94.6%
Transparency Index	12	16	18	24	21	21

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

Regular Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AgroCapital	21,900	16,894,000	11	171
ANED	5,400	6,579,000	3	130
Banco FIE	231,100	569,322,000	6	130
BancoSol	215,300	861,418,000	30	130
CIDRE	8,500	126,578,000	8	130
Coop Fatima	6,300	44,280,000	7	171
CRECER	166,900	134,626,000	13	130
Diaconia	67,000	85,734,000	2	130
Ecofuturo	59,200	226,839,000	5	130
EMPRENDER	8,700	2,380,000	3	171
Fassil FFP	57,600	325,081,000	5	130
FONCRESOL	3,900	9,573,000	3	130
FONDECO	14,200	24,274,000	3	130
Fortaleza	20,100	164,530,000	13	130
FUBODE	29,400	24,444,000	7	130
FUNBODEM	8,600	15,798,000	9	130
IDEPRO	10,400	40,479,000	2	130
IMPRO	2,400	2,885,000	4	130
ProCredit	84,300	257,487,000	8	171
PRODEM	44,900	62,529,000	4	130
ProMujer BOL	115,200	50,753,000	3	130
Sartawi	14,600	26,842,000	8	130

Key Statistics
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# 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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