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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 160 months
Key Statistics
| Outstanding portfolio (PHP) | PHP 110,184,264.70 |
| Portfolio (USD) | USD 2,635,987.19 |
| Active Clients with Loans | 39,182 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Group loan for microentrepreneurs for additional business capital.
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 | x |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | Values Formation |
| 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) | |
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 | 30,000 |
Loan Term and Grace Period
| Shortest loan term | 6.0 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 | 40.00% |
| Highest quoted nominal interest | 40.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Loan Service Fee |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Loan Redemption Fee |
| % 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? | Yes |
Ongoing Insurance Fees
| Ins 1 |
|---|
| Description | Life Insurance |
| % 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? | Yes |
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 | 0 |
| or, Fixed-amount deposited | PHP 40 |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 4.00% |
| Interest payment frequency | Quarterly |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
On first loan cycle, 5% of loan amount deposit is required\rCredit Insurance offers cash benefit to dependents upon death of member or family members. Life insurance is paid in advance by RSPI. Interest on CBU is paid quarterly
Full Pricing Data
General Business Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | PHP 3,000 | | PHP 7,000 | | PHP 15,000 | | PHP 20,000 |
| Loan Cycle (1, 2, 3, etc) | 1 | | 6 | | 9 | | Not Known |
| Disbursement Date | 2011-04-29 | | 2011-04-29 | | 2011-04-20 | | 2011-03-16 |
| Loan Term (Months) | 5.6 months | | 5.6 months | | 5.6 months | | 5.6 months |
| Grace Period (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 |
| True Price by Comp | | | | | | | |
| Interest and Fee Component | 92.6% | | 92.6% | | 88.0% | | 90.2% |
| Insurance Component | 39.0% | | 21.1% | | 13.1% | | 11.9% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 58.0% | | 12.6% | | 4.7% | | 3.6% |
| Full APR (int fee ins tax dep) | 189.6% | | 126.2% | | 105.8% | | 105.8% |
| Transparency Index | 21 | | 32 | | 38 | | 38 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
General Business Loan Price Graphs
