Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | N/A |
Year established | 1989 |
Head of Institution | Engr. Panfilo Asares |
Regions active | |
# Branches | 3 |
Total Portfolio (nat'l) | PhP 101,848,650 |
Total Portfolio (USD) | USD 2,436,570.57 |
Active clients with loans | 12,752 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 20% - 40% |
Network affiliations | Microfinance Council of the Philippines, Inc. |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Help (Individual) | PHP 20,000 - 150,000 | 3 - 24 | 60% - 80% | 20% - 40% | Business | Women, Men | Tech Asst Visits, Other Training, Mortuary Fund/Life insurance | |||||||
Hiram (Group Loan) | PHP 3,000 - 100,000 | 6 | 60% - 80% | 20% - 40% | Business | Women, Men, Must have experience running a business | Group Mtgs, Tech Asst Visits, Business Training, Bookeeping, consultancy, Mortuary Fund/Life Insurance |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Help (Individual) | 24.0% annual, Flat | 1 Fee | 1 Ins | 0.50% loan amt | 2.0% upfront | 38.3% - 55.9% | 41.1% - 60.3% | 46 | ||||||||
Hiram (Group Loan) | 24.0% annual, Flat | 1 Fee | 1 Ins | 0.25% loan amt | 4.0% upfront 20.00 ongoing | 68.6% | 81.7% - 111.2% | 27 |
Outstanding portfolio (BOB) | BOB 47,752 |
Portfolio (USD) | USD 7,074.37 |
Active Clients with Loans | 58 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 20% - 40% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | x |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | |
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 | BOB |
Minimum loan size | BOB 350 |
Maximum loan size | 350,000 |
Loans less than BOB 10,000 | 90% |
BOB 10,000-40,000 | 10% |
BOB 40,000-70,000 | 0 |
BOB 70,000-100,000 | 0 |
BOB 100,000-125,000 | 0 |
Greater than BOB 125,000 | 0 |
Shortest loan term | 3.0 months |
Longest loan term | 60.0 months |
Approx average | 31.5 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 20% |
Between 13 and 18 months | 20% |
Longer than 18 months | 60% |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | x |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | x |
Every 6 months | |
Every 12 months | |
Single end payment | x |
Irregular payments | x |
Lowest quoted nominal interest | 27.00% |
Highest quoted nominal interest | 36.00% |
Reason(s) why interest rate varies | Loan Size, Client Risk, Loan Purpose |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Gastos Administrativos |
% of loan amount - min | 1.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Fee varies based on loan amount. |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Seguro de Desgravamen |
% of loan amount - min | 0.24% |
% of loan amount - max | 4.80% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Insurance fee is 0.08% per month, charged on the total disbursed amount for loans 3,000 USD and below, and charged on the oustanding princpal balalnce only for loans above 3,000 USD. |
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 | BOB 5,000 | BOB 10,000 | BOB 35,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2014-03-06 | 2014-03-06 | 2014-03-06 | ||
Loan Term (Months) | 18.0 months | 31.0 months | 41.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | BOB 1,345.60 | BOB 4,853.82 | BOB 21,756.27 | ||
True Price by Comp | |||||
Interest price component | 29.7% | 33.9% | 33.9% | ||
Fee Component | 2.2% | 1.5% | 1.3% | ||
Insurance Component | 1.7% | 1.6% | 0.9% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 0.0% | 0.0% | 0.0% | ||
Full APR (int fee ins tax dep) | 33.6% | 37.0% | 36.1% | ||
Transparency Index | 80 | 73 | 75 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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