Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.finca.org/ |
Year established | 1992 |
Head of Institution | Julius Omoding |
Regions active | Central, Eastern, Northern, Western, Southern |
# Branches | 27 |
Total Portfolio (nat'l) | UGX 69,190,692,605 |
Total Portfolio (USD) | USD 27,402,254.50 |
Active clients with loans | 56,372 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 20% - 40% |
Network affiliations | FINCA International |
Funders | FINCA International, SEEP, Gates Foundation |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINCA Business Loan | UGX 500,000 - 200,000,000 | 3 - 36 | 20% - 40% | 80% - 100% | Business, Agriculture, Education | Women, Men, Have business, Specific age group | Credit Ins | |||||||
FINCA Small Group Loan | UGX 500,000 - 10,000,000 | 3 - 12 | 20% - 40% | 60% - 80% | Business, Agriculture, Education | Women, Men, Have business, Specific age group | Credit Educ, Group Mtgs, Credit Ins | |||||||
FINCA Village Group Loan | UGX 50,000 - 10,000,000 | 4 - 8 | 40% - 60% | 20% - 40% | Business, Agriculture, Education | Women, Men, Have business, Specific age group | Credit Educ, Group Mtgs, Credit Ins | |||||||
FINCA Agriculture Loan | UGX 100,000 - 60,000,000 | 3 - 36 | 40% - 60% | 20% - 40% | Business, Agriculture, Education | Women, Men, Individual farmers & farmers in cooperatives | Loan guarantee up to 50% by agribusiness initiative |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINCA Business Loan | 24.0%-36.0% annual, Decl Bal | 2 Fees | 1 Ins | None | N/A | 32.2% - 36.1% | 33% - 37% | 68 | ||||||||
FINCA Small Group Loan | 68.8% annual, Decl Bal | 1 Fee | 0 Ins | None | 10.0% upfront | 69.2% - 71.6% | 82.7% - 87.1% | 81 | ||||||||
FINCA Village Group Loan | 68.8% annual, Decl Bal | 1 Fee | 0 Ins | None | 10.0% upfront 1.00% ongoing | 70% - 80.5% | 84.2% - 97.9% | 78 | ||||||||
FINCA Agriculture Loan | 42.0%-68.8% annual, Decl Bal | 2 Fees | 0 Ins | None | N/A | 59.7% - 71.5% | 59.7% - 71.5% | 66 |
Outstanding portfolio (RWF) | RWF 259,525,562 |
Portfolio (USD) | USD 432,543 |
Active Clients with Loans | 2,738 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 0% - 20% |
Individual | x |
Solidarity group | x |
Village banking | x |
Self help group | |
Other |
Any purpose | x |
Income generation | |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | x |
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) |
# Regions for this institution | 10 |
# Regions for this product | 10 |
Regions Active | Gakenke, Gasabo, Kicukiro, Musanze, Ngororero, Nyabihu, Nyamagabe, Nyanza, Nyarugenge, Ruhango |
Currency | RWF |
Minimum loan size | RWF 2,000,000 |
Maximum loan size | 5,000,000 |
Shortest loan term | 12.0 months |
Longest loan term | 18.0 months |
Approx average | 14.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 60% |
Longer than 18 months | 40% |
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 | 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 |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 10.00% - 15.00% |
or, Fixed-amount deposited | 0 |
% loan amount deposited | 0 |
or, Fixed-amount deposited | 0 |
Conditions on access to deposit | Final Pmt |
Minimum interest rate paid | 6.00% |
Maximum interest rate paid | 10.00% |
Interest payment frequency | Monthly |
Are taxes charged on this product? | Yes |
Percentage of fees | 18% |
All or some fees taxed |
Sample 1 | Sample 2 | Sample 3 | |||
---|---|---|---|---|---|
Loan Amount | RWF 2,000,000 | RWF 3,000,000 | RWF 4,000,000 | ||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
Disbursement Date | |||||
Loan Term (Months) | 24.0 months | 24.0 months | 24.0 months | ||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
Total Cost of Credit | RWF 535,114 | RWF 819,226.60 | RWF 1,092,305.80 | ||
True Price by Comp | |||||
Interest price component | 22.6% | 22.7% | 22.6% | ||
Fee Component | 1.0% | 1.0% | 1.0% | ||
Insurance Component | 0.1% | 0.6% | 0.6% | ||
Tax Component | 0.2% | 0.3% | 0.3% | ||
Deposit Component | 7.8% | 4.9% | 4.9% | ||
Full APR (int fee ins tax dep) | 31.7% | 29.6% | 29.5% | ||
Transparency Index | 0 | 0 | 0 | ||
Original Repayment Schedule | |||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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