Institution Type | Credit Union / Cooperative |
Is this institution regulated? | Yes |
Website address | n/a |
Year established | 2003 |
Head of Institution | Florent Majyambere |
Regions active | Burera, Gakenke, Musanze, Ngororero, Nyabihu, Rubavu |
# Branches | 11 |
Total Portfolio (nat'l) | RWF 579,013,264 |
Total Portfolio (USD) | USD 904,708.23 |
Active clients with loans | 2,177 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 0% - 20% |
Network affiliations | AMIR |
Funders | Terrafina, Banque Rwandaise Developpement, AQUADEV, RaboBank |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agriculture Loan | RWF 20,000 - 1,000,000 | 3 - 24 | 0% - 20% | 0% - 20% | Business | Women, Men | Credit Educ, Business Training, Other Training | |||||||
Commerce Loan | RWF 20,000 - 2,000,000 | 3 - 12 | 20% - 40% | 0% - 20% | Business, Housing, Consumer, Education | Women, Men, Have business | Credit Educ, Business Training, Other Training | |||||||
Others Loan | RWF 100,000 - 2,000,000 | 3 - 12 | 0% - 20% | 0% - 20% | Any Purpose | Women, Men | Credit Educ, Business Training, Education Finance |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agriculture Loan | 24.00% annual, Decl Bal | 2 Fees | 1 Ins | None | 20.00% upfront | 19.7% - 29.3% | 29.9% - 42.4% | 63 | ||||||||
Commerce Loan | 24.00% annual, Decl Bal | 2 Fees | 1 Ins | None | 20.00% upfront | 27.8% - 78.1% | 40.8% - 110.7% | 39 | ||||||||
Others Loan | 24.00%-60.00% annual, Decl Bal | 2 Fees | 1 Ins | None | 20.00% upfront | 27.3% - 78.1% | 42.5% - 110.7% | 35 |
Outstanding portfolio (GHS) | GHS 153,527 |
Portfolio (USD) | USD 77,932.49 |
Active Clients with Loans | 500 |
Approximate % Female Clients | 0% - 20% |
Approximate % Urban Clients | 0% - 20% |
Any purpose | |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | x |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | x |
Credit insurance | |
Workplace visits | |
Business training | x |
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) |
Currency | GHS |
Minimum loan size | GHS 200 |
Maximum loan size | 2,000 |
Shortest loan term | 4.0 months |
Longest loan term | 8.0 months |
Approx average | 6.0 months |
Grace period usage | 70% |
Average grace period | 4.0 months |
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 |
Lowest quoted nominal interest | 30.00% |
Highest quoted nominal interest | 30.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Commitment Fee |
% of loan amount - min | 3.00% |
% of loan amount - max | 5.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? |
% loan amount deposited | 10.00% |
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 | 6.00% |
Maximum interest rate paid | 6.00% |
Interest payment frequency | Annually |
Are taxes charged on this product? | No |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | GHS 377.09 | GHS 628.48 | GHS 1,099.84 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | 2011-03-15 | 2011-03-15 | 2011-03-15 | ||
Loan Term (Months) | 6.0 months | 6.0 months | 6.0 months | ||
Grace Period (Months) | 1.0 month | 1.0 month | 1.0 month | ||
Total Cost of Credit | Not Known | Not Known | Not Known | ||
True Price by Comp | |||||
Interest and Fee Component | 88.2% | 88.2% | 88.2% | ||
Insurance Component | 0.0% | 0.0% | 0.0% | ||
Tax Component | 0.0% | 0.0% | 0.0% | ||
Deposit Component | 14.2% | 14.2% | 14.2% | ||
Full APR (int fee ins tax dep) | 102.4% | 102.4% | 102.4% | ||
Transparency Index | 29 | 29 | 29 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
Key Statistics | |
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# Samples: | |
# Products | |
# Institutions | |
# 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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