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Institution
Data approved: 2012-10-29
Data version: 2
Age of data: 144 months
Key Statistics
| Outstanding portfolio (RWF) | RWF 219,000,000 |
| Portfolio (USD) | USD 365,000 |
| Active Clients with Loans | 521 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | x |
| Solidarity group | x |
| Village banking | x |
| Self help group | |
| Other | |
Description
These are small loans to finance either businesses, agriculture, livestock, etc.
Loan Purpose
| Any purpose | x |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| 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) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 10 |
| # Regions for this product | 10 |
| Regions Active | Gakenke, Gasabo, Kicukiro, Musanze, Ngororero, Nyabihu, Nyamagabe, Nyanza, Nyarugenge, Ruhango |
Loan Conditions
Loan Amount
| Currency | RWF |
| Minimum loan size | RWF 50,000 |
| Maximum loan size | 1,999,999 |
Distribution at Disbursement (Est.)
| Loans less than RWF 500,000 | 30% |
| RWF 500,000-1,500,000 | 30% |
| RWF 1,500,000-2,500,000 | 40% |
| RWF 2,500,000-3,500,000 | 0 |
| RWF 3,500,000-4,500,000 | 0 |
| Greater than RWF 4,500,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 4.0 months |
| Longest loan term | 12.0 months |
| Approx average | 8.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 20% |
| Between 10 and 12 months | 60% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
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 | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 22.80% |
| Highest quoted nominal interest | 22.80% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| 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 | 10.00% - 15.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
Interest Paid on Deposit
| Minimum interest rate paid | 6.00% |
| Maximum interest rate paid | 10.00% |
| Interest payment frequency | End Term |
Taxes
| Are taxes charged on this product? | Yes |
| Percentage of fees | 18% |
| All or some fees taxed | |
Additional Comments
1st cycle compulsory deposit is 15%, remaining cycles is 10%. APR calculations have used insurance rates applicable to a 30 year old client
Full Pricing Data
Microloan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 |
|---|
| Loan Amount | RWF 100,000 | | RWF 250,000 | | RWF 500,000 | | RWF 1,000,000 | | RWF 1,900,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2012-09-25 | | 2012-09-25 | | 2012-09-25 | | 2012-09-25 | | 2012-09-25 |
| Loan Term (Months) | 12.0 months | | 12.0 months | | 12.0 months | | 12.0 months | | 12.0 months |
| Grace Period (Months) | 1.0 month | | 1.0 month | | 1.0 month | | 1.0 month | | 0.0 months |
| Total Cost of Credit | RWF 24,337.50 | | RWF 60,843.85 | | RWF 121,687.70 | | RWF 243,375.40 | | RWF 462,413.26 |
| True Price by Comp | | | | | | | | | |
| Interest price component | 39.2% | | 39.2% | | 39.1% | | 39.1% | | 39.2% |
| Fee Component | 2.0% | | 2.0% | | 2.0% | | 2.0% | | 2.0% |
| Insurance Component | 0.6% | | 0.6% | | 0.6% | | 0.6% | | 0.6% |
| Tax Component | 0.5% | | 0.5% | | 0.5% | | 0.5% | | 0.5% |
| Deposit Component | 13.5% | | 8.2% | | 8.1% | | 8.1% | | 8.2% |
| Full APR (int fee ins tax dep) | 55.7% | | 50.4% | | 50.2% | | 50.2% | | 50.4% |
| Transparency Index | 0 | | 0 | | 0 | | 0 | | 0 |
| | | | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF |
