Meanwood Finance Corporation Limited - Scheme Loans - MFTransparency.org Truth In Lending Tables

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Institution

Meanwood Finance Corporation Limited Design HouseCairo RoadLusakaPO Box 31334

Data approved: 2011-12-12

Data version: 1

Age of data: 165 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (ZMK)	ZMK 1,500,000,000
Portfolio (USD)	USD 289,855.07
Active Clients with Loans	567
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	80% - 100%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Loan Product targeted to individuals backed by memorandum of understanding between the lender(ourselves) and the institution the applicant works for

Loan Purpose

Any purpose	x
Income generation
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
Other (2)
No other services

Eligibility

Men	x
Women	x
Must run a business
Must own a home or land
Must be a salaried worker	x
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	50,000,000

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	12.0 months
Approx average	6.0 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	5.00%
Highest quoted nominal interest	8.00%
Reason(s) why interest rate varies	Time as Client, Loan Size, Client Risk
Interest rate period	Monthly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

This product has no upfront fees

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

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

Scheme Loans samples

	Sample 1	Sample 3	Sample 4	Sample 5
Loan Amount	ZMK 600,000	ZMK 2,700,000	ZMK 6,000,000	ZMK 6,000,000
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2011-04-28	2011-07-20	2010-09-15	2011-06-09
Loan Term (Months)	12.0 months	12.0 months	12.0 months	12.0 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	146.2%	104.8%	77.6%	105.1%
Insurance Component	0.0%	0.0%	0.0%	0.0%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	146.2%	104.8%	77.6%	105.1%
Transparency Index	41	57	77	57

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

Scheme Loans 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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