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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 156 months
Key Statistics
Outstanding portfolio (PHP) | PHP 26,449,638.61 |
Portfolio (USD) | USD 632,766.47 |
Active Clients with Loans | 1,253 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 20% - 40% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
Aims to make available affordable credit to those microentrepreneurs who generate daily or weekly sales and who currently depend on loans from informal money lenders for capital and help them expand their businesses and increase their incomes
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | |
Other | Seminar on Livelihoods |
Other (2) | |
No other services | |
Eligibility
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 | x |
Other | Has 2 valid IDs, Barangay Clearance, DTI |
Other (2) | 2 years resident in area |
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 5,000 |
Maximum loan size | 150,000 |
Loan Term and Grace Period
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
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 |
---|
Description | Service Charge |
% of loan amount - min | 4.00% |
% of loan amount - max | 4.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Credit Insurance |
% of loan amount - min | 0.40% |
% of loan amount - max | 1.30% |
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 | 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? | 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 | 5.00% |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0.02% |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Final Pmt |
Interest Paid on Deposit
Minimum interest rate paid | 2.00% |
Maximum interest rate paid | 2.00% |
Interest payment frequency | Annually |
Taxes
Are taxes charged on this product? | No |
Additional Comments
Taxes: Gross Receipts Tax = PhP 5 - PhP 2
Full Pricing Data
SIPAG (Sinugdanan sa Paglambo) Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | PHP 8,000 | | PHP 15,000 | | PHP 28,000 | | PHP 60,000 | | PHP 90,000 | | PHP 125,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2011-07-04 | | 2011-07-04 | | 2011-07-04 | | 2011-07-04 | | 2011-07-04 | | 2011-07-04 |
Loan Term (Months) | 5.6 months | | 5.6 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 | | 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 | 78.2% | | 78.1% | | 78.1% | | 78.1% | | 78.1% | | 78.1% |
Insurance Component | 15.0% | | 9.5% | | 6.6% | | 4.9% | | 4.3% | | 4.0% |
Tax Component | 3.0% | | 1.6% | | 1.7% | | 1.2% | | 1.1% | | 0.8% |
Deposit Component | 16.8% | | 15.3% | | 14.8% | | 14.3% | | 14.2% | | 14.1% |
Full APR (int fee ins tax dep) | 113.0% | | 104.6% | | 101.3% | | 98.5% | | 97.7% | | 97.0% |
Transparency Index | 27 | | 29 | | 30 | | 30 | | 31 | | 31 |
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Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
SIPAG (Sinugdanan sa Paglambo) Loan Price Graphs