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Institution
Data approved: 2013-03-26
Data version: 2
Age of data: 143 months
Description
Designed for farmers in livestock and vegetable production to puchase farm equipment - tractors, irrigation pumps, seedlings, and other farm inputs. Loan ranges between GHS 400-15000 and repayment period is between 4-24 months.
Any purpose Income generation x Mortgage/housing Consumer loan Agriculture Education Other household finance Other Used for agricultural purposes Other (2)
Credit education x Group meetings x Credit insurance Workplace visits x Business training x Other training x Other Health Education Other (2) Technology Management No other services
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 Other Must own a farm or animals, fish, etc. Other (2)
Portfolio Size by Product
Geographic Coverage
# Regions for this institution 2 # Regions for this product 1 Regions Active Volta Region
Loan Conditions
Currency GHS Minimum loan size GHS 400 Maximum loan size 15,000
Loans less than GHS 1,000 40% GHS 1,000-5,000 30% GHS 5,000-7,500 10% GHS 7,500-10,000 15% GHS 10,000-13,000 5% Greater than GHS 13,000 5%
Shortest loan term 4.0 months Longest loan term 24.0 months Approx average 14.0 months
Loans 3 months or less 0 Between 4 and 6 months 15% Between 7 and 9 months 40% Between 10 and 12 months 40% Between 13 and 18 months 5% Longer than 18 months 0
Daily Weekly Every 2 weeks x Every 4 weeks Monthly x Every 2 months Quarterly Every 6 months Every 12 months Single end payment Irregular payments x
Pricing Information
Interest
Lowest quoted nominal interest 4.00% Highest quoted nominal interest 4.00% Interest rate period Monthly Interest Rate Calculation Method Flat Subsidized by funder request? No Is rate fixed for entire loan term Yes
Upfront Fees Fee 1 Description Processing Fee % of loan amount - min 4.00% % of loan amount - max 4.00% OR, Fixed amount - min 0 Fixed amount - max 0 Reason for variation N/A Appears on Repayment Sched? Yes
Ongoing Fees This product has no ongoing fees Upfront Insurance Fees This product has no upfront insurance fees Ongoing Insurance Fees This product has no ongoing insurance fees
Required for All Criteria N/A Is deposit indicated on the repayment schedule? Yes Do borrowers control deposit in their group? No
Deposit BEFORE or AT Disbursement
% loan amount deposited 15.00% - 30.00% 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? No
Additional Comments
Compuslory deposit - if the client is purchasing a tractor then deposit requirement is 30% deposit. If loan is smaller in size, e.g. for purchasing equipment or seedlings then deposit requirement is 15-20%.
Full Pricing Data
Agriculture Loan sample s
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6Loan Amount GHS 800 GHS 1,500 GHS 3,000 GHS 5,500 GHS 6,000 GHS 14,500 Loan Cycle (1, 2, 3, etc)1 2 3 3 3 3 Disbursement Date 2013-01-28 2012-12-28 2012-12-27 2013-04-16 2013-01-24 2013-04-16 Loan Term (Months) 3.0 months 6.0 months 4.7 months 5.4 months 5.6 months 9.0 months Grace Period (Months)0.2 months 0.2 months 0.5 months 0.2 months 0.5 months 0.2 months Total Cost of Credit GHS 128 GHS 408 GHS 732 GHS 1,562 GHS 1,704.10 GHS 6,496.30 True Price by Comp Interest price component 79.8% 77.3% 85.9% 93.9% 86.6% 89.7% Fee Component 29.3% 15.7% 19.4% 18.2% 16.7% 11.4% Insurance Component 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Tax Component 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Deposit Component 35.0% 44.1% 46.5% 51.8% 39.3% 43.5% Full APR (int fee ins tax dep)144.1% 137.1% 151.8% 163.9% 142.6% 144.6% Transparency Index 33 35 32 29 34 33 Original Repayment Schedule PDF PDF PDF PDF PDF PDF MFT Pricing Calculation PDF PDF PDF PDF PDF PDF
Agriculture Loan Price Graphs
0 100 Pricing Transparency Index Regulated Inst. Not Regulated Inst. NGO Institution Type Business Loan Purpose ASPI Institution GH-003-V02-P01 Product GH Country 2013 Year Range Number 2 Institution Data Version 0 5,000 10,000 15,000 Loan Size (all) 0% 50% 100% 150% Full APR (int fee ins tax dep) > 40 20 2 Number of Borrowers
