Victoria Finance Ltd - Biashara Small Loan - MFTransparency.org Truth In Lending Tables

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Institution

Victoria Finance Ltd Plot 17, Lumumba StreetDar Es SalaamPO Box 12102

Data approved: 2011-12-18

Data version: 1

Age of data: 158 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (TZS)	TZS 350,000,000
Portfolio (USD)	USD 220,125.79
Active Clients with Loans	115
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	80% - 100%

Methodology

Individual	x
Solidarity group	x
Village banking
Self help group
Other

Description

These are business loans issued to owners of small businesses. The maximum loan amount is TZS 10,000,000 and maximum tenure is 12 months.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other services

Eligibility

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
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	N/A
# Regions for this product	N/A
Regions Active

Loan Conditions

Loan Amount

Currency	TZS
Minimum loan size	TZS 500,000
Maximum loan size	10,000,000

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	12.0 months
Approx average	8.0 months

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	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

Upfront Fees

	Fee 1	Fee 2
Description	Application Fee	Set Up Fee
% of loan amount - min	0	2.00%
% of loan amount - max	0	2.00%
OR, Fixed amount - min	30,000	0
Fixed amount - max	30,000	0
Reason for variation	N/A	N/A
Appears on Repayment Sched?	No	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Insurance Commission
% of loan amount - min	2.00%
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/A
Is deposit indicated on the repayment schedule?	N/A
Do borrowers control deposit in their group?	N/A

Deposit BEFORE or AT Disbursement

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Biashara Small Loan samples

	Sample 1	Sample 2	Sample 3
Loan Amount	TZS 1,000,000	TZS 5,000,000	TZS 5,000,000
Loan Cycle (1, 2, 3, etc)	1	1	1
Disbursement Date	2011-09-30	2011-09-30	2011-09-30
Loan Term (Months)	6.0 months	6.0 months	6.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	69.9%	60.1%	59.7%
Insurance Component	8.3%	7.9%	7.9%
Tax Component	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	78.2%	68.0%	67.6%
Transparency Index	38	44	44

Original Repayment Schedule	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF

Biashara Small Loan Price Graphs

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Key Statistics
# 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

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Total Borrrowers of Samples


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By Country

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