2. Meanwood
Please note that the information you are viewing is 163 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Innovative Finance
Please note that the information you are viewing is 139 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Meanwood Finance Corporation Limited Design HouseCairo RoadLusakaPO Box 31334
Data approved: 2011-12-12
Data version: 1
Age of data: 163 months

Institution

Innovative Finance The Ghana Tours Building, C122/2 Farrar AvenueAdabrakaAccra, Greater AccraP.O. Box CT 153
Data approved: 2013-03-20
Data version: 2
Age of data: 139 months
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Institution Details

Institution TypeNon Bank Financial Institution
Is this institution regulated?Yes
Website addresshttp://www.meanwoodfinance.co.zm/
Year established2005
Head of InstitutionDaka Timothy
Regions active
# Branches0

Total Portfolio (nat'l)ZMK 9,000,000,000
Total Portfolio (USD)USD 1,739,130.44
Active clients with loans4,889
Approximate % female clients20% - 40%
Approximate % urban clients80% - 100%
Network affiliationsAMIZ
Funders

Institution Details

Institution TypeNon-Governmental Organization
Is this institution regulated?Yes
Website addresshttp://www.myinnovativefinance.com/
Year established1999
Head of InstitutionSheila Azuntaba
Regions activeGreater Accra Region, Northern Region
# Branches2

Total Portfolio (nat'l)GHS 698,000
Total Portfolio (USD)USD 354,314.72
Active clients with loans2,756
Approximate % female clients60% - 80%
Approximate % urban clients60% - 80%
Network affiliationsGhana Cooperative of Susu Collectors Association, ASSFIN
Funders

Loan Products » Summary

Business
163 Borrowers
USD 888,888.89 Portfolio
Active Product
Group
370 Borrowers
USD 177,004.83 Portfolio
Active Product
Personal
550 Borrowers
USD 347,826.09 Portfolio
Active Product
Salary
374 Borrowers
USD 62,995.17 Portfolio
Active Product
Scheme Loan
567 Borrowers
USD 289,855.07 Portfolio
Active Product

Loan Products » Summary

Individual
231 Borrowers
USD 39,593.91 Portfolio
Active Product
Susu
275 Borrowers
USD 27,918.78 Portfolio
Active Product
Group
2,250 Borrowers
USD 286,802.03 Portfolio
Active Product
Innovative Auto Loan
Retired Product
Innovative Micro-Leasing
Retired Product

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Business Loans ZMK 5,000,000 - 1,100,000,000 1 - 6 20% - 40% 80% - 100% Business Women, Men, Have business Credit Educ, Group Mtgs, Credit Ins
Group Loans ZMK 500,000 - 10,000,000 3 - 6 60% - 80% 80% - 100% Business Women, Men, Have business Credit Educ, Group Mtgs, Credit Ins, Other Training
Personal Loans ZMK 500,000 - 20,000,000 1 - 3 40% - 60% 80% - 100% Any Purpose Women, Men, Salaried worker Credit Educ, Group Mtgs, Credit Ins
Salary Advance ZMK 100,000 - 5,000,000 1 40% - 60% 80% - 100% Education, Other Women, Men, Salaried worker Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Other Training
Scheme Loans ZMK 500,000 - 50,000,000 1 - 12 40% - 60% 80% - 100% Any Purpose Women, Men, Salaried worker Credit Educ, Group Mtgs, Credit Ins

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Individual Small Enterprise Loan GHS 2,000 - 10,000 6 - 18 60% - 80% 80% - 100% Business, Consumer, Education Women, Men, Have business, Salaried worker, Must be Innovative Finance client for at least a year Credit Educ, Credit Ins, Tech Asst Visits, Business Training
Susu Loan GHS 200 - 1,500 3 - 8 60% - 80% 60% - 80% Business, Education, Other Women, Men, Have business, Specific age group, Must contribute daily savings prior to receiving loan. Must have guarantor., Must have been working for the past 2-3 years Credit Educ, Tech Asst Visits, Business Training, Other Training
Group Loan GHS 300 - 800 4 - 5 100% 20% - 40% Business Women Credit Educ, Tech Asst Visits, Business Training

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Business Loans 96.0%-120.0% annual, Flat 2 Fees 0 Ins None N/A 224.9% - 233.5% 224.9% - 233.5% 42
Group Loans 72.0%-96.0% annual, Flat 0 Fees 0 Ins None 10.0% upfront 108.1% - 139.4% 126.6% - 161.7% 49
Personal Loans 120.0%-144.0% annual, Flat 1 Fee 0 Ins None 10.0% upfront 217.9% - 229.5% 252% - 265.7% 46
Salary Advance 276.0% annual, Flat 0 Fees 0 Ins None N/A 270.3% - 280.2% 270.3% - 280.2% 100
Scheme Loans 60.0%-96.0% annual, Flat 0 Fees 0 Ins None N/A 77.6% - 146.2% 77.6% - 146.2% 58

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Individual Small Enterprise Loan 60.00%-84.00% annual, Flat 1 Fee 1 Ins None 30.00% upfront 105.8% - 121.6% 194% - 216.6% 29
Susu Loan 60.00%-84.00% annual, Flat 2 Fees 1 Ins None 30.00% upfront 99.5% - 131.9% 166.9% - 235.4% 28
Group Loan 42.00%-60.00% annual, Flat 2 Fees 0 Ins None 10.00%-15.00% upfront 118.2% - 119.5% 143.7% - 154.4% 28

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Business Loans 96.0%-120.0% annual, Flat 2 Fees 0 Ins Ins None N/A 224.9% - 233.5% 224.9% - 233.5% 42
Group Loans 72.0%-96.0% annual, Flat 0 Fees 0 Ins Ins None 10.0% upfront 108.1% - 139.4% 126.6% - 161.7% 49
Personal Loans 120.0%-144.0% annual, Flat 1 Fee 0 Ins Ins None 10.0% upfront 217.9% - 229.5% 252% - 265.7% 46
Salary Advance 276.0% annual, Flat 0 Fees 0 Ins Ins None N/A 270.3% - 280.2% 270.3% - 280.2% 100
Scheme Loans 60.0%-96.0% annual, Flat 0 Fees 0 Ins Ins None N/A 77.6% - 146.2% 77.6% - 146.2% 58

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Individual Small Enterprise Loan 60.00%-84.00% annual, Flat 1 Fee 1 Ins Ins None 30.00% upfront 105.8% - 121.6% 194% - 216.6% 29
Susu Loan 60.00%-84.00% annual, Flat 2 Fees 1 Ins Ins None 30.00% upfront 99.5% - 131.9% 166.9% - 235.4% 28
Group Loan 42.00%-60.00% annual, Flat 2 Fees 0 Ins Ins None 10.00%-15.00% upfront 118.2% - 119.5% 143.7% - 154.4% 28
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