Harmos Microenterprise Development Ltd - Business Loan - MFTransparency.org Truth In Lending Tables

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Institution

Harmos Microenterprise Development Ltd Baptist Training Center, Corner Makishi & Great East RdRhodesparkLusakaP.O. Box 33911

Data approved: 2011-12-12

Data version: 1

Age of data: 164 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (ZMK)	ZMK 6,832,397,704
Portfolio (USD)	USD 1,320,270.09
Active Clients with Loans	9,244
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	20% - 40%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

The target clients that have trading business. The aim is to empower women (mothers) so that there is a direct impact on children in terms of education, nutrition and health.

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	x
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	ZMK
Minimum loan size	ZMK 500,000
Maximum loan size	90,000,000

Loan Term and Grace Period

Shortest loan term	3.0 months
Longest loan term	12.0 months
Approx average	6.0 months

Grace Period

Grace period usage	100%
Average grace period	0.3 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	4.25%
Highest quoted nominal interest	5.25%
Reason(s) why interest rate varies	Time as Client, Interest varies in relation to number of loan cycles
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	Fee 2
Description	Application fee	Processing Fee
% of loan amount - min	0	2.50%
% of loan amount - max	0	2.50%
OR, Fixed amount - min	10,000	0
Fixed amount - max	10,000	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	Credit Life Assurance
% 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?	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	No
Do borrowers control deposit in their group?	No

Deposit BEFORE or AT Disbursement

% loan amount deposited	18.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	0
Maximum interest rate paid	0
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Business Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	ZMK 750,000	ZMK 1,500,000	ZMK 2,500,000	ZMK 4,000,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-06-01	2011-06-13	2011-06-21	2011-03-28
Loan Term (Months)	4.0 months	4.0 months	6.0 months	9.0 months
Grace Period (Months)	0.0 months	0.0 months	0.0 months	0.0 months
Total Cost of Credit	Not Known	Not Known	Not Known	Not Known
True Price by Comp
Interest and Fee Component	102.1%	101.3%	86.6%	96.4%
Insurance Component	5.1%	5.1%	3.8%	2.9%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	37.6%	37.7%	33.7%	35.7%
Full APR (int fee ins tax dep)	144.9%	144.1%	124.0%	134.9%
Transparency Index	35	35	41	38

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

Business 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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