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Institution
Data approved: 2011-12-12
Data version: 1
Age of data: 164 months
Key Statistics
| Outstanding portfolio (ZMK) | ZMK 241,506,390 |
| Portfolio (USD) | USD 46,667.90 |
| Active Clients with Loans | 521 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
This loan is given to people in selfselected groups that want to start up a small business or boost an existing business. Groups consist of 3-7 members. The product is structured in 4 different levels which differ for interest & amount.
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | Record Keeping Training |
| Other (2) | Household Approach Training, Monthly Monitoring |
| 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) | |
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 | ZMK |
| Minimum loan size | ZMK 400,000 |
| Maximum loan size | 1,200,000 |
Loan Term and Grace Period
| Shortest loan term | 4.0 months |
| Longest loan term | 10.0 months |
| Approx average | 6.0 months |
Grace Period
| Grace period usage | 10% |
| Average grace period | 0.5 months |
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 | 3.50% |
| Highest quoted nominal interest | 5.00% |
| Reason(s) why interest rate varies | Loan Size |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
|---|
| Description | Application Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 10,000 |
| Fixed amount - max | 10,000 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
Ongoing 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 | 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 |
Additional Comments
Each member within a group should attend a number of compulsory training before disbursement. Non attendance could disqualified the client from receiving the loan. Training are in Business Management, Household Approach and Microcredit Scheme
Full Pricing Data
Solidarity Group Loan samples
| Sample 1 | | Sample 2 | | Sample 3 |
|---|
| Loan Amount | ZMK 400,000 | | ZMK 600,000 | | ZMK 1,200,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2011-06-13 | | 2011-06-06 | | 2011-05-30 |
| Loan Term (Months) | 4.0 months | | 4.0 months | | 5.0 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 | 96.0% | | 94.2% | | 68.6% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 96.0% | | 94.2% | | 68.6% |
| Transparency Index | 44 | | 45 | | 61 |
| | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF |
Solidarity Group Loan Price Graphs
