Please note that the information you are viewing is
143 months old and may not represent the prices currently charged.
If you represent this MFI and wish to update your information,
click HERE
Institution
Data approved: 2012-10-17
Data version: 2
Age of data: 143 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
