Institution Type | Credit Union / Cooperative |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 2007 |
Head of Institution | Jean Louis Musoni |
Regions active | Gasabo, Kicukiro, Nyarugenge |
# Branches | 3 |
Total Portfolio (nat'l) | RWF 518,625,185 |
Total Portfolio (USD) | USD 823,214.58 |
Active clients with loans | 511 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 0% - 20% |
Network affiliations | AMIR |
Funders | Youth Ministry, National Youth Council, Districts |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Autres Loan | RWF 50,000 - 3,000,000 | 3 - 24 | 0% - 20% | 40% - 60% | Consumer, Education, Other | Women, Men | Credit Educ | |||||||
Trade Loan | RWF 300,000 - 5,000,000 | 1 - 24 | 0% - 20% | 60% - 80% | Business | Women, Men, Have business, other cooperative, SME's | Credit Educ, Business Training | |||||||
Transport Loan | RWF 500,000 - 5,000,000 | 12 - 36 | 0% - 20% | 40% - 60% | Business | Women, Men | Credit Educ | |||||||
Salary Advance Loan | RWF 50,000 - 3,000,000 | 3 - 24 | 0% - 20% | 80% - 100% | Any Purpose | Women, Men, Salaried worker | Credit Educ |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Autres Loan | 48.00% annual, Decl Bal | 2 Fees | 1 Ins | None | N/A | 26.3% - 76.1% | 26.3% - 76.1% | 88 | ||||||||
Trade Loan | 18.00%-36.00% annual, Decl Bal | 2 Fees | 1 Ins | None | 25.00% upfront | 26.4% - 31.4% | 44.8% - 54.5% | 37 | ||||||||
Transport Loan | 16.00%-18.00% annual, Decl Bal | 2 Fees | 0 Ins | None | 25.00% upfront | 24.5% - 29.1% | 38.9% - 48.6% | 38 | ||||||||
Salary Advance Loan | 15.00%-24.00% annual, Decl Bal | 2 Fees | 0 Ins | None | N/A | 15.9% - 28.2% | 15.9% - 28.2% | 61 |
Outstanding portfolio (GHS) | GHS 1,127,923 |
Portfolio (USD) | USD 572,549.75 |
Active Clients with Loans | 845 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | x |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | x |
Consumer loan | x |
Agriculture | |
Education | x |
Other household finance | x |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | x |
Other | |
Other (2) | |
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 have conttributed savings depsoit for at least 3 months. |
Other (2) |
# Regions for this institution | 1 |
# Regions for this product | 1 |
Regions Active | Ashanti Region |
Currency | GHS |
Minimum loan size | GHS 50 |
Maximum loan size | 20,000 |
Loans less than GHS 1,000 | 10% |
GHS 1,000-5,000 | 20% |
GHS 5,000-7,500 | 30% |
GHS 7,500-10,000 | 15% |
GHS 10,000-13,000 | 10% |
Greater than GHS 13,000 | 10% |
Shortest loan term | 3.0 months |
Longest loan term | 12.0 months |
Approx average | 6.0 months |
Loans 3 months or less | 10% |
Between 4 and 6 months | 40% |
Between 7 and 9 months | 50% |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 0 |
Longer than 18 months | 0 |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 28.00% |
Highest quoted nominal interest | 28.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | Yes |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Commitment Fee |
% of loan amount - min | 3.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
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? | Yes |
% loan amount deposited | 50.00% |
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 | 4.00% |
Maximum interest rate paid | 4.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | GHS 1,500 | GHS 3,000 | GHS 10,000 | GHS 15,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | 1 | Not Known | Not Known | |||
Disbursement Date | 2013-04-09 | 2013-01-24 | 2012-08-22 | 2013-02-12 | |||
Loan Term (Months) | 6.0 months | 8.0 months | 8.0 months | 10.0 months | |||
Grace Period (Months) | 0.0 months | 0.2 months | 0.3 months | -0.1 months | |||
Total Cost of Credit | GHS 255 | GHS 650 | GHS 2,166.72 | GHS 3,950 | |||
True Price by Comp | |||||||
Interest price component | 45.5% | 45.1% | 43.9% | 47.6% | |||
Fee Component | 10.8% | 8.3% | 8.0% | 7.2% | |||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 154.6% | 137.0% | 127.6% | 138.0% | |||
Full APR (int fee ins tax dep) | 210.9% | 190.4% | 179.5% | 192.8% | |||
Transparency Index | 13 | 15 | 16 | 15 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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