Paglaum Multi Purpose Cooperative - Project Loan (Micro-Regular Loan) - MFTransparency.org Truth In Lending Tables

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Institution

Paglaum Multi Purpose Cooperative 2F PMPC Bldg., Eastern LoocPlaridel, Misamis Occidental7209

Data approved: 2011-11-15

Data version: 1

Age of data: 159 months

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Product

Project Loan (Micro-Regular Loan) Product 7 of 8 « Prev | Next »

Product Details

Key Statistics

Outstanding portfolio (PHP)	PHP 66,101,330.58
Portfolio (USD)	USD 1,581,371.55
Active Clients with Loans	12,767
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual	x
Solidarity group
Village banking
Self help group	x
Other

Description

To provide additional capital to all regulare members with an existing business for at least six (6) months to finance their; 1. Livelihood projects and 2. Business Activities

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
Business training
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	Must be Coop member
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 500
Maximum loan size	150,000

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	18.0 months
Approx average	0

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily	x
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	2.50%
Highest quoted nominal interest	2.50%
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 Fee	Notarial Fee
% of loan amount - min	4.00%	0
% of loan amount - max	4.00%	0
OR, Fixed amount - min	0	100
Fixed amount - max	0	100
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	1.50%
% 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

	Ins 1
Description	MBA, Life and Retirement Insurance
% of loan amount - min	0
% of loan amount - max	0
OR, Fixed amount - min	20
Fixed amount - max	20
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	6.50%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	PHP 26
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?

Full Pricing Data

Project Loan (Micro-Regular Loan) samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	PHP 3,000	PHP 7,000	PHP 14,500	PHP 30,000	PHP 70,000	PHP 80,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-06-10	2011-05-11	2011-05-18	2011-04-28	2010-10-30	2011-05-20
Loan Term (Months)	5.8 months	5.8 months	5.8 months	11.7 months	17.5 months	23.3 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	79.9%	71.3%	69.8%	62.3%	62.0%	55.1%
Insurance Component	58.4%	28.1%	17.2%	9.1%	5.1%	3.8%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	37.2%	17.7%	13.0%	10.6%	9.1%	7.4%
Full APR (int fee ins tax dep)	175.4%	117.2%	99.9%	82.0%	76.1%	66.2%
Transparency Index	17	26	30	37	39	45

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

Project Loan (Micro-Regular Loan) Price Graphs

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Key Statistics
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# Institutions
# 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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