Lorenzo Tan Multi-Purpose Cooperative - Micro Grameen - MFTransparency.org Truth In Lending Tables

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Institution

Lorenzo Tan Multi-Purpose Cooperative Lorenzo TanTangub City, Misamis Occidental/Region X7214

Data approved: 2011-11-15

Data version: 1

Age of data: 159 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 67,214,449
Portfolio (USD)	USD 1,608,001.17
Active Clients with Loans	8,962
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group	x
Village banking	x
Self help group
Other

Description

Group loans for borrowers engaged in microenterprise activities or for business use

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	x
Other training	x
Other
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
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 3,000
Maximum loan size	15,000

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

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	3.00%
Highest quoted nominal interest	3.00%
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 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

	Ins 1
Description	Credit Insurance
% of loan amount - min	1.00%
% of loan amount - max	1.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Insurance Fees

	Ins 1
Description	Mutual Fund
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	10
Fixed amount - max	10
Reason for variation	N/A
Appears on Repayment Sched?	No

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	3.00%
or, Fixed-amount deposited	PHP 100

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	PHP 10
Conditions on access to deposit	Access During

Interest Paid on Deposit

Minimum interest rate paid	5.00%
Maximum interest rate paid	5.00%
Interest payment frequency	Annually

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

2% CBU upfront; 1% savings

Full Pricing Data

Micro Grameen samples

	Sample 1	Sample 2	Sample 3
Loan Amount	PHP 3,000	PHP 8,000	PHP 15,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known
Disbursement Date	2011-08-24	2011-08-05	2011-09-02
Loan Term (Months)	6.0 months	6.0 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	138.9%	90.8%	90.9%
Insurance Component	20.3%	10.0%	7.3%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	43.1%	17.1%	13.9%
Full APR (int fee ins tax dep)	202.2%	117.8%	112.2%
Transparency Index	18	31	32

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

Micro Grameen 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

	X Axis
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N (# of Samples)
Total Borrrowers of Samples


Avg
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By Country

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