Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | http://www.eclofphils.com/ |
Year established | 1995 |
Head of Institution | Lucrecio D. Delgado, Jr. |
Regions active | |
# Branches | 10 |
Total Portfolio (nat'l) | PhP 112,151,935 |
Total Portfolio (USD) | USD 2,683,060.65 |
Active clients with loans | 5,476 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 0% - 20% |
Network affiliations | ECLOF International, National Council of Churches in the Philippines, Microfinance Council of the Philippines, Inc., FPSDC |
Funders | ECLOF International, National Council of Churches in the Philippines, Church of Sweden |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agricultural Asset Acquisition and Carabao Loan | PHP 10,000 - 100,000 | 24 | 60% - 80% | 0% - 20% | Business, Leasing or purchase of agricultural equipment, Purchase of carabao | Women, Men, Have business, Farmer-client who are at least on their 3rd cycle up | Group Mtgs, Credit Ins, Tech Asst Visits, Other Training, Sustainable Agriculture practices (organic farming) | |||||||
Agricultural Production Loan | PHP 5,000 - 150,000 | 4 - 12 | 60% - 80% | 0% - 20% | Business | Women, Men, Have business, Must have a farm to manage | Credit Educ, Credit Ins, Other Training, Sustainable Agriculture practices (organic farming) | |||||||
Micro Individual Loans | PHP 15,000 - 150,000 | 3 - 12 | 80% - 100% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Credit Ins, Business Training, Burial Assistance | |||||||
SMID | PHP 5,000 - 50,000 | 3 - 6 | 60% - 80% | 80% - 100% | Business | Women, Men, Have business | Credit Educ, Credit Ins, Tech Asst Visits, Burial Assistance |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agricultural Asset Acquisition and Carabao Loan | 24.0%-30.0% annual, Flat | 1 Fee | 1 Ins | None | 10.00% ongoing | 46.9% - 47.1% | 52.5% - 53.2% | 45 | ||||||||
Agricultural Production Loan | 36.0% annual, Flat | 1 Fee | 1 Ins | None | 10.00% ongoing | 42.9% - 44.3% | 44.8% - 46.1% | 78 | ||||||||
Micro Individual Loans | 36.0%-42.0% annual, Flat | 1 Fee | 1 Ins | None | 1.00% ongoing | 72.9% - 116.5% | 82.9% - 122.7% | 36 | ||||||||
SMID | 36.0%-54.0% annual, Flat | 1 Fee | 1 Ins | None | 1.00% ongoing | 127.4% - 142.7% | 135.9% - 151.3% | 25 |
Outstanding portfolio (USD) | USD 39,912,313 |
Portfolio (USD) | USD 39,912,313 |
Active Clients with Loans | 740 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 0% - 20% |
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 | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | x |
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 | 7 |
# Regions for this product | 7 |
Regions Active | Chuquisaca , Cochabamba , La Paz , Oruro , Potosí, Santa Cruz, Tarija |
Currency | USD |
Minimum loan size | USD 500 |
Maximum loan size | 126,000 |
Loans less than USD 1,500 | 15% |
USD 1,500-5,000 | 20% |
USD 5,000-10,000 | 30% |
USD 10,000-15,000 | 15% |
USD 15,000-18,000 | 10% |
Greater than USD 18,000 | 10% |
Shortest loan term | 6.0 months |
Longest loan term | 60.0 months |
Approx average | 48.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 10% |
Between 10 and 12 months | 15% |
Between 13 and 18 months | 20% |
Longer than 18 months | 50% |
Grace period usage | 10% |
Average grace period | 4.0 months |
Daily | |
Weekly | |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | x |
Every 2 months | x |
Quarterly | x |
Every 6 months | |
Every 12 months | x |
Single end payment | x |
Irregular payments |
Lowest quoted nominal interest | 18.00% |
Highest quoted nominal interest | 27.00% |
Reason(s) why interest rate varies | Branch, Time as Client, Loan Size, Client Risk, Collateral, Loan Purpose |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | No |
Ins 1 | |
---|---|
Description | Seguro de Desgravamen |
% of loan amount - min | 0.30% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | El costo es de 0.05% mensual, con cargo sólo en el saldo de capital pendiente del préstamo. |
Appears on Repayment Sched? | Yes |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | USD 5,500 | USD 10,000 | USD 15,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2013-04-05 | 2014-04-01 | 2014-04-01 | ||
Loan Term (Months) | 18.0 months | 24.0 months | 37.0 months | ||
Grace Period (Months) | 3.1 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | USD 1,170.50 | USD 2,875 | USD 4,301.25 | ||
True Price by Comp | |||||
Interest price component | 22.5% | 26.7% | 18.0% | ||
Fee Component | 0.0% | 0.0% | 0.0% | ||
Insurance Component | 0.6% | 0.6% | 0.6% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 23.1% | 27.3% | 18.6% | ||
Transparency Index | 78 | 66 | 97 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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% Products with compulsory deposits |
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