CCT Credit Cooperative - Growth Enterprise Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 159 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

CCT Credit Cooperative 5/F Joshua Center1428 Taft Avenue, ErmitaManila, NCR1000

Data approved: 2011-11-15

Data version: 1

Age of data: 159 months

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Product

Growth Enterprise Loan Product 1 of 4 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 7,003,678
Portfolio (USD)	USD 167,552.11
Active Clients with Loans	100
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	40% - 60%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Growth Enterprise Loan

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	Values Development, Personal Counselling and Life Skills Training
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
Must be specific age group
Other	Must be community resident for at least 5 years
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 51,000
Maximum loan size	700,000

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	9.0 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	10.00%
Highest quoted nominal interest	24.00%
Reason(s) why interest rate varies	Repayment period: if 4-month period, interest rate is 10%; 6-month period is 14%; 9-month period is 20%; 12-month period is 24%
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
Description	Service Charge
% of loan amount - min	1.00%
% of loan amount - max	1.00%
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

This product has no upfront insurance fees

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?
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 100
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	3.00%
Maximum interest rate paid	3.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

The Growth Enterprise Loan Product requires collateral e.g. chattel mortgage or real estate.

Full Pricing Data

Growth Enterprise Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	PHP 60,000	PHP 100,000	PHP 150,000
Loan Cycle (1, 2, 3, etc)	2	21	25
Disbursement Date	2011-07-20	2011-07-21	2011-07-20
Loan Term (Months)	9.0 months	9.0 months	6.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	56.1%	56.1%	60.2%
Insurance Component	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	53.8%	53.8%	61.3%
Full APR (int fee ins tax dep)	109.8%	109.9%	121.5%
Transparency Index	9	9	8

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

Growth Enterprise Loan Price Graphs

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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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