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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 159 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 1,223,998,400 |
| Portfolio (USD) | USD 29,282,258.37 |
| Active Clients with Loans | 333,452 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 20% - 40% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
Loan for the enterprising poor living below $2 income level per capital
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 | x |
| Other | Life insurance |
| Other (2) | Marketing facilities |
| No other services | |
Eligibility
| Men | |
| 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) | |
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 1,000 |
| Maximum loan size | 120,000 |
Loan Term and Grace Period
| Shortest loan term | 3.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 months |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0.3 months |
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 | 30.00% |
| Highest quoted nominal interest | 30.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 60 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | PHP 60 |
| Conditions on access to deposit | Access During |
Interest Paid on Deposit
| Minimum interest rate paid | 7.00% |
| Maximum interest rate paid | 7.00% |
| Interest payment frequency | Annually |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
There are two types of savings: (1) capital build-up (CBU) is withdrawable savings as long as within the 15% of the loan amount maintaining balance and earns 7% interest paid annually; and (2) locked in capital build-up (LCBU) is a non-interest compulsory savings with P1 weekly contribution and is refundable upon closing the account. In case of death, accumulated CBU and LCBU will be refunded to the beneficiary plus cash benefits
Full Pricing Data
Microfinance Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | PHP 3,000 | | PHP 8,000 | | PHP 14,000 | | PHP 30,000 | | PHP 31,000 | | PHP 100,000 |
| Loan Cycle (1, 2, 3, etc) | 1 | | 3 | | 8 | | 14 | | 12 | | 20 |
| Disbursement Date | 2011-02-09 | | 2011-03-23 | | 2011-03-23 | | 2010-09-01 | | 2010-12-01 | | 2011-01-27 |
| Loan Term (Months) | 5.4 months | | 5.4 months | | 5.4 months | | 5.8 months | | 5.4 months | | 5.4 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 | 59.6% | | 58.3% | | 58.3% | | 59.2% | | 53.2% | | 60.1% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 27.1% | | 4.2% | | 3.8% | | 2.2% | | 1.5% | | 0.6% |
| Full APR (int fee ins tax dep) | 86.8% | | 62.5% | | 62.1% | | 61.4% | | 54.6% | | 60.6% |
| Transparency Index | 35 | | 48 | | 48 | | 49 | | 55 | | 49 |
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| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Microfinance Loan Price Graphs
