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Institution
Data approved: 2012-10-17
Data version: 2
Age of data: 144 months
Key Statistics
| Outstanding portfolio (RWF) | RWF 212,882,269 |
| Portfolio (USD) | USD 337,908 |
| Active Clients with Loans | 187 |
| Approximate % Female Clients | 0% - 20% |
| Approximate % Urban Clients | 80% - 100% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
This product is for men, cooperatives, associates and other institutions. It funds only commercial loans. Collateral is required. The term of the loan vary from 1 to 36 months and the maximum amount is 2.5% of total ACB deposits.
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 | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services | x |
Eligibility
| Men | x |
| Women | |
| Must run a business | x |
| 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 | 2 |
| # Regions for this product | 5 |
| Regions Active | Bugesera, Kicukiro, Nyarugenge, Rubavu, Rusizi |
Loan Conditions
Loan Amount
| Currency | RWF |
| Minimum loan size | RWF 100,000 |
| Maximum loan size | 10,000,000 |
Distribution at Disbursement (Est.)
| Loans less than RWF 500,000 | 10% |
| RWF 500,000-1,500,000 | 10% |
| RWF 1,500,000-2,500,000 | 10% |
| RWF 2,500,000-3,500,000 | 10% |
| RWF 3,500,000-4,500,000 | 10% |
| Greater than RWF 4,500,000 | 10% |
Loan Term and Grace Period
| Shortest loan term | 4.0 months |
| Longest loan term | 36.0 months |
| Approx average | 18.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 5% |
| Between 10 and 12 months | 50% |
| Between 13 and 18 months | 30% |
| Longer than 18 months | 10% |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | x |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 15.00% |
| Highest quoted nominal interest | 60.00% |
| Reason(s) why interest rate varies | 15% flat for LT (> 4months). 54% flat for monthly ST (< 3 months). 60% flat for single-end ST (< 3months). |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
|---|
| Description | Commission Fee | | Loan Application & Collateral Visit Fee |
| % of loan amount - min | 1.50% | | 0 |
| % of loan amount - max | 1.50% | | 0 |
| OR, Fixed amount - min | 0 | | 15,000 |
| Fixed amount - max | 0 | | 15,000 |
| Reason for variation | VAT Excluded | | LA=10,000RWF, CV=5,000RWF |
| Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
|---|
| Description | Commission on Insurance |
| % of loan amount - min | 0.12% |
| % of loan amount - max | 10.45% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Varies according to client age & loan duration |
| 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? | No |
| Do borrowers control deposit in their group? | No |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 20.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | Yes |
| Percentage of fees | 18% |
| All or some fees taxed | All |
Additional Comments
APR calculations have used insurance rates applicable to a 30 year old client.
Full Pricing Data
Curuza (Business) MT & LT samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
|---|
| Loan Amount | RWF 300,000 | | RWF 500,000 | | RWF 500,000 | | RWF 1,000,000 | | RWF 2,000,000 | | RWF 3,000,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-06-20 | | 2012-10-11 | | 2012-05-31 | | 2012-04-30 | | 2012-03-30 | | 2012-06-13 |
| Loan Term (Months) | 12.0 months | | 3.1 months | | 7.0 months | | 12.0 months | | 18.0 months | | 24.0 months |
| Grace Period (Months) | 1.0 month | | 3.1 months | | 1.0 month | | 1.0 month | | 1.0 month | | 0.0 months |
| Total Cost of Credit | RWF 69,008.99 | | RWF 102,548.87 | | RWF 71,798.60 | | RWF 188,729.96 | | RWF 504,749.64 | | RWF 990,868.26 |
| True Price by Comp | | | | | | | | | | | |
| Interest price component | 26.3% | | 55.5% | | 25.1% | | 26.2% | | 26.3% | | 26.3% |
| Fee Component | 13.1% | | 18.3% | | 14.1% | | 5.9% | | 2.4% | | 2.1% |
| Insurance Component | 0.5% | | 0.7% | | 0.8% | | 0.6% | | 0.8% | | 0.6% |
| Tax Component | 2.6% | | 3.5% | | 2.8% | | 1.1% | | 0.6% | | 0.5% |
| Deposit Component | 21.9% | | 18.6% | | 21.4% | | 17.2% | | 14.6% | | 13.8% |
| Full APR (int fee ins tax dep) | 64.4% | | 96.6% | | 64.2% | | 51.0% | | 44.7% | | 43.3% |
| Transparency Index | 23 | | 16 | | 23 | | 29 | | 34 | | 35 |
| | | | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Curuza (Business) MT & LT Price Graphs
