| Outstanding portfolio (RWF) | RWF 209,648,520 |
| Portfolio (USD) | USD 332,775 |
| Active Clients with Loans | 568 |
| Approximate % Female Clients | 0% - 20% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| 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) |
| # Regions for this institution | 2 |
| # Regions for this product | 4 |
| Regions Active | Ngororero, Nyabihu, Rubavu, Rutsiro |
| Currency | RWF |
| Minimum loan size | RWF 12,000 |
| Maximum loan size | 5,000,000 |
| Loans less than RWF 500,000 | 20% |
| RWF 500,000-1,500,000 | 15% |
| RWF 1,500,000-2,500,000 | 15% |
| RWF 2,500,000-3,500,000 | 15% |
| RWF 3,500,000-4,500,000 | 15% |
| Greater than RWF 4,500,000 | 15% |
| Shortest loan term | 3.0 months |
| Longest loan term | 36.0 months |
| Approx average | 18.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 5% |
| Between 10 and 12 months | 70% |
| Between 13 and 18 months | 10% |
| Longer than 18 months | 10% |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | x |
| Every 6 months | |
| Every 12 months | |
| Single end payment | x |
| Irregular payments |
| Lowest quoted nominal interest | 30.00% |
| Highest quoted nominal interest | 30.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Commission Fee | Paper Fee | |
| % of loan amount - min | 2.00% | 0 | |
| % of loan amount - max | 2.00% | 0 | |
| OR, Fixed amount - min | 0 | 600 | |
| Fixed amount - max | 0 | 600 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Credit Life Insurance |
| % of loan amount - min | 0.05% |
| % of loan amount - max | 5.58% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Depends on client age and loan term |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 20.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | Yes |
| Percentage of fees | 18% |
| All or some fees taxed | All |
| Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | RWF 250,000 | RWF 450,000 | RWF 1,000,000 | RWF 1,500,000 | RWF 5,000,000 | ||||
| Loan Cycle (1, 2, 3, etc) | 12 | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2012-05-23 | 2012-03-20 | 2012-03-22 | 2012-10-08 | 2012-10-05 | ||||
| Loan Term (Months) | 12.0 months | 6.0 months | 11.0 months | 24.0 months | 12.0 months | ||||
| Grace Period (Months) | 1.0 month | 1.0 month | 1.0 month | 3.1 months | 3.1 months | ||||
| Total Cost of Credit | RWF 47,906.60 | RWF 51,308.34 | RWF 187,415.40 | RWF 545,386.70 | RWF 1,069,660 | ||||
| True Price by Comp | |||||||||
| Interest price component | 29.5% | 29.4% | 15.5% | 28.9% | 29.0% | ||||
| Fee Component | 4.6% | 7.7% | 4.4% | 2.2% | 3.4% | ||||
| Insurance Component | 0.4% | 0.4% | 0.5% | 0.2% | 0.5% | ||||
| Tax Component | 1.0% | 1.5% | 0.9% | 0.4% | 0.7% | ||||
| Deposit Component | 18.4% | 19.4% | 50.8% | 14.2% | 14.1% | ||||
| Full APR (int fee ins tax dep) | 53.9% | 58.4% | 72.1% | 45.9% | 47.7% | ||||
| Transparency Index | 56 | 51 | 42 | 65 | 63 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | n/a |
| Year established | 2008 |
| Head of Institution | Amadu Montia |
| Regions active | Northern Region |
| # Branches | 2 |
| Total Portfolio (nat'l) | GHS 1,905,561.29 |
| Total Portfolio (USD) | USD 967,289.99 |
| Active clients with loans | 5,143 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | GHAMFIN, GCSCA |
| Funders | MiDA |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Support Loan | GHS 1,000 - 30,000 | 1 - 3 | 0% - 20% | 80% - 100% | Business | Women, Men, Have business, Have home or land | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training | |||||||
| Group Loan | GHS 100 - 1,000 | 4 | 80% - 100% | 80% - 100% | Business | Women, Have business, Must be a group member and must have lived in the community for at least one year, Must have group guarantee | Credit Educ, Group Mtgs, Health and nutrition training, Clean up exercises (sanitation) |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Support Loan | 60.00% annual, Flat | 1 Fee | 0 Ins | None | 10.00% upfront | 86.3% - 107.6% | 101.7% - 126.1% | 52 | ||||||||
| Group Loan | 36.00% annual, Flat | 0 Fees | 0 Ins | None | 10.00% upfront | 63.1% | 75.6% | 47 |
| Key Statistics | |
|---|---|
| # Samples: | |
| # Products | |
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| # Countries | |
| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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