Omaganhan Farmers Agrarian Reform Cooperative - SUMMED (Scaling Up Micro-Finance Management and Entrepreneurial Development) - MFTransparency.org Truth In Lending Tables

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Institution

Omaganhan Farmers Agrarian Reform Cooperative OmaganhanTabango, Leyte6536

Data approved: 2011-11-28

Data version: 1

Age of data: 163 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 40,300,000
Portfolio (USD)	USD 964,114.83
Active Clients with Loans	4,480
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Short term loans extended to members with small businesses

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
Credit insurance	x
Workplace visits	x
Business training	x
Other training
Other
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business
Must own a home or land
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 1,000
Maximum loan size	150,000

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	12.0 months
Approx average	0

Grace Period

Grace period usage	0
Average grace period	0.3 months

Repayment Frequency

Daily	x
Weekly	x
Every 2 weeks	x
Every 4 weeks
Monthly	x
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	4.00%
Reason(s) why interest rate varies	Loan Size
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	Fee 2
Description	Service Charge	Filing Fee
% of loan amount - min	3.00%	0
% of loan amount - max	3.00%	0
OR, Fixed amount - min	0	10
Fixed amount - max	0	20
Reason for variation		N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Credit Insurance
% of loan amount - min	0.13%
% of loan amount - max	1.50%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

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?	Yes
Do borrowers control deposit in their group?

Deposit BEFORE or AT Disbursement

% loan amount deposited	0
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	4.00%
or, Fixed-amount deposited	0
Conditions on access to deposit	Access During

Interest Paid on Deposit

Minimum interest rate paid	2.75%
Maximum interest rate paid	2.75%
Interest payment frequency	Quarterly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Additional Comments

Quarterly payment of interest. The Coop collects both savings and CBU. CBU is non-withdrawable and will be used for dividends at the end of the year. Annually, the Coop also collects P2 as miscellaneous fee to cover office supplies and other administrative expenses

Full Pricing Data

SUMMED (Scaling Up Micro-Finance Management and Entrepreneurial Development) samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	PHP 3,000	PHP 8,000	PHP 15,000	PHP 30,000	PHP 60,000	PHP 90,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2009-08-04	2011-09-16	2011-07-22	2011-04-28	2011-06-09	2009-02-05
Loan Term (Months)	6.1 months	6.1 months	6.0 months	6.0 months	7.9 months	8.0 months
Grace Period (Months)	0.0 months	0.0 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	Not Known	Not Known
True Price by Comp
Interest and Fee Component	100.9%	98.3%	82.3%	88.6%	97.1%	83.3%
Insurance Component	5.0%	4.8%	4.1%	4.4%	4.8%	4.2%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	15.5%	15.7%	1.9%	4.8%	3.7%	2.3%
Full APR (int fee ins tax dep)	121.4%	118.8%	88.4%	97.8%	105.6%	89.7%
Transparency Index	30	30	41	37	34	40

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

SUMMED (Scaling Up Micro-Finance Management and Entrepreneurial Development) Price Graphs

Loan Size/

Loan Term/

Custom

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Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
CCODE	2,351	642,437	4	148
CUMO	48,013	593,957	2	148
FINCA	29,927	3,752,103	3	148
FINCOOP	4,221	273,904	6	148
FITSE	8,790	649,408	4	148
MARDEF	166,575	2,550,582	1	148
MLF MWI	24,364	1,698,128	3	148
MRFC	1,772	0	0	148
NBS	1,000	974,359	1	174
OIBM	52,649	9,227,488	4	148

Key Statistics
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# 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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