Foundation for International Community Assistance (FINCA) - Village Banking Loans - MFTransparency.org Truth In Lending Tables

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Institution

Foundation for International Community Assistance (FINCA) Stand No. 4513 Madzimoyo Road, NorthmeadLusaka, Lusaka Province

Data approved: 2014-10-20

Data version: 2

Age of data: 125 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (ZMW)	ZMW 22,277,113
Portfolio (USD)	USD 3,479,238.69
Active Clients with Loans	25,762
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	60% - 80%

Methodology

Individual
Solidarity group
Village banking	x
Self help group
Other

Description

loan secured by a group gurantee aimed at the empowerment of the lowest income enterpreneurs and communities. The Village is formed by people who know and trust each other.

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	x
Credit insurance	x
Workplace visits
Business training
Other training
Other	Funeral benefits
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)	Must be a member of a self selected village bank

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	5
# Regions for this product	5
Regions Active	Central Province, Copperbelt Province, Eastern Province, Northern Province, Southern Province

Loan Conditions

Loan Amount

Currency	ZMW
Minimum loan size	ZMW 150
Maximum loan size	12,500

Distribution at Disbursement (Est.)

Loans less than ZMW 500	10%
ZMW 500-2,000	70%
ZMW 2,000-3,250	10%
ZMW 3,250-4,500	5%
ZMW 4,500-6,000	5%
Greater than ZMW 6,000	5%

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	7.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	70%
Between 7 and 9 months	30%
Between 10 and 12 months	0
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	x

Pricing Information

Interest

Lowest quoted nominal interest	4.33%
Highest quoted nominal interest	4.33%
Interest rate period	Monthly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	Arrangement And Deposit Fee	Asset Inspection
% of loan amount - min	7.96%	0
% of loan amount - max	8.00%	0
OR, Fixed amount - min	0	25
Fixed amount - max	0	25
Reason for variation	1.96% to 2% paid for Arrangement fee and 6% for Deposit fee. Arrangement fee varies depending on the number of group members.	N/A
Appears on Repayment Sched?	Yes	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Credit Life Insurance
% of loan amount - min	1.00%
% of loan amount - max	1.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	N/A
Appears on Repayment Sched?	Yes

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?

Additional Comments

We are currently piloting self approaval of loans by clients

Full Pricing Data

Village Banking Loans samples

Loan Amount	Type of Sample	Disbursement Date	Loan Term (Months)	Grace Period (Months)	Total Cost of Credit	Full APR (int fee ins tax dep)	True Price by Component					Transparency Index	Original Repayment Schedule	MFT Pricing Calculation
Loan Amount	Type of Sample	Disbursement Date	Loan Term (Months)	Grace Period (Months)	Total Cost of Credit	Full APR (int fee ins tax dep)	Interest price component	Fee Component	Insurance Component	Tax Component	Deposit Component	Transparency Index	Original Repayment Schedule	MFT Pricing Calculation
ZMW 1,000	Real	2014-10-10	6.1 months	N/A	ZMW 272.01	94.6%	50.7%	39.8%	4.1%	0.0%	0.0%	55	PDF	PDF
ZMW 1,000	Generated	2014-11-01	6.0 months	0.0 months	ZMW 270.88	95.4%	50.9%	40.3%	4.2%	0.0%	0.0%	54	-	PDF
ZMW 1,500	Real	2014-10-10	6.1 months	N/A	ZMW 395.46	91.1%	50.6%	36.5%	4.0%	0.0%	0.0%	57	PDF	PDF
ZMW 1,500	Generated	2014-11-01	6.0 months	0.0 months	ZMW 393.82	91.9%	50.9%	36.9%	4.1%	0.0%	0.0%	57	-	PDF
ZMW 1,800	Generated	2014-11-01	6.0 months	0.0 months	ZMW 467.58	90.8%	50.9%	35.8%	4.1%	0.0%	0.0%	57	-	PDF
ZMW 2,000	Generated	2014-11-01	9.1 months	0.0 months	ZMW 659.84	79.1%	50.9%	25.2%	3.0%	0.0%	0.0%	66	-	PDF
ZMW 2,400	Generated	2014-11-01	6.0 months	0.0 months	ZMW 615.11	89.3%	50.9%	34.4%	4.0%	0.0%	0.0%	58	-	PDF
ZMW 3,000	Generated	2014-11-01	9.1 months	0.0 months	ZMW 977.25	77.8%	50.9%	24.0%	2.9%	0.0%	0.0%	67	-	PDF
ZMW 3,500	Generated	2014-11-01	6.0 months	0.0 months	ZMW 885.57	88.0%	50.9%	33.0%	4.1%	0.0%	0.0%	59	-	PDF
ZMW 4,900	Generated	2014-11-01	6.0 months	0.0 months	ZMW 1,229.80	87.2%	50.9%	32.2%	4.1%	0.0%	0.0%	60	-	PDF

Village Banking Loans Price Graphs

Loan Size/

Loan Term/

Custom

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
Actuar Caldas	3,700	5,247,000	1	171
Actuar Quindio	2,300	2,800,000	2	171
Actuar Tolima	8,800	5,099,000	3	171
Amanecer	4,300	8,253,000	4	171
Banco Agrario	56,300	39,938,000	3	171
Banco WWB	219,400	294,019,000	5	166
Bancolombia	36,200	51,563,000	1	171
BdO	10,400	7,945,000	2	171
Comerciacoop	1,600	3,255,000	4	171
Confiar	43,800	81,993,000	7	171
Congente	5,400	20,045,000	2	171
Contactar	25,100	20,184,000	2	171
Crezcamos	27,500	22,564,000	4	171
Finamerica	39,800	99,536,000	7	171
FMM Popayán	310,000	243,614,000	3	171
FMSD	6,800	9,236,000	6	171
Fomentamos	900	102,000	1	171
Fund DeLaMujer	199,900	165,568,000	1	171
Fund Oleoductos	500	435,000	1	166
FUNDAUNIBAN	600	1,307,000	2	171
FUNDESAN	2,400	2,521,000	5	171
FUNDESMAG	1,000	1,698,000	2	171
Interactuar	30,200	93,846,000	4	171
MEDA	15,600	27,322,000	2	171
ProCredit CO	5,700	18,569,000	3	171

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
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	Less or equal to:
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Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Additional Comments

Full Pricing Data

Village Banking Loans samples

Village Banking Loans Price Graphs

Total Borrowers of Samples

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