CCT Credit Cooperative - Regular Business Loan 6 months - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 162 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: 162 months

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Product

Regular Business Loan 6 months Product 4 of 4 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 221,374,459
Portfolio (USD)	USD 5,296,039.69
Active Clients with Loans	40,100
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	60% - 80%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Additional capital for existing business

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
Workplace visits	x
Business training
Other training
Other	Values Development, Personal Counselling and Life Skills Training
Other (2)	Business mentoring
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 11,000
Maximum loan size	50,000

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	3.33%
Highest quoted nominal interest	3.33%
Interest rate period	Monthly
Interest Rate Calculation Method	Flat
Subsidized by funder request?
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	Service Fee
% of loan amount - min	2.00%
% of loan amount - max	2.00%
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	20.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	PHP 100
Conditions on access to deposit	Access During

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

Withdrawals are allowed beyond 2% retention rate. For periodic savings, P5 for loans below P1, and P1 for loans above P1. Members are entitle to a Patronage Refund which is determined annually based on the financial performance of the Cooperative and declared every April of the succeeding year.

Full Pricing Data

Regular Business Loan 6 months samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	PHP 16,000	PHP 27,000	PHP 30,000	PHP 30,000
Loan Cycle (1, 2, 3, etc)	6	13	10	10
Disbursement Date	2011-08-01	2011-08-02	2011-07-13	2011-06-20
Loan Term (Months)	6.0 months	6.0 months	6.0 months	6.0 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	87.6%	87.6%	87.6%	87.6%
Insurance Component	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	43.7%	43.7%	43.7%	43.8%
Full APR (int fee ins tax dep)	131.4%	131.4%	131.3%	131.4%
Transparency Index	30	30	30	30

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

Regular Business Loan 6 months Price Graphs

Loan Size/

Loan Term/

Custom

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
ACSI	682,200	103,172,000	5	161
ADCSI	176,100	30,846,000	2	162
BG	47,000	4,048,000	4	161
DECSI	361,000	96,304,000	7	161
Dire	4,900	828,000	4	161
DMCPSC	1,200	69,000	1	161
Eshet	18,800	2,392,000	3	161
Harbu	22,400	1,757,000	2	161
Meklit	12,200	1,395,000	4	161
Metemamen	10,500	650,000	6	161
OCSSCO	502,700	69,565,000	3	161
OMO	323,600	31,385,000	4	161
PEACE	17,200	2,462,000	3	161
SFPI	33,600	2,750,000	3	161
Sidama	53,400	1,162,000	6	161
Wasasa	49,300	5,798,000	4	161
Wisdom MFI	45,300	5,500,000	6	158

Key Statistics
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# Countries
# Borrowers
Loan Portfolio (USD)
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% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits

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