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Institution
Data approved: 2011-12-23
Data version: 1
Age of data: 162 months
Description
This is a loan for business purposes, delivered in groups. Collateral is needed and it is repaid monthly, with an interest rate of 22% and loan term of 12-24 months.
Any purpose Income generation x Mortgage/housing Consumer loan Agriculture Education Other household finance Other Other (2)
Credit education x Group meetings x Credit insurance x Workplace visits Business training Other training Other Other (2) No other services
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
Currency ETB Minimum loan size ETB 1,000 Maximum loan size 18,000
Shortest loan term 12.0 months Longest loan term 24.0 months Approx average 12.0 months
Daily Weekly x Every 2 weeks Every 4 weeks Monthly x Every 2 months Quarterly Every 6 months Every 12 months Single end payment x Irregular payments
Pricing Information
Interest
Lowest quoted nominal interest 20.00% Highest quoted nominal interest 20.00% Interest rate period Yearly Interest Rate Calculation Method Flat Subsidized by funder request? Is rate fixed for entire loan term Yes
Upfront Fees Fee 1 Description Service Charge % of loan amount - min 2.00% % of loan amount - max 2.00% OR, Fixed amount - min 0 Fixed amount - max 0 Reason for variation Appears on Repayment Sched? Yes
Ongoing Fees This product has no ongoing fees Upfront Insurance Fees Ins 1 Description Loan Insurance % of loan amount - min 0 % of loan amount - max 1.50% OR, Fixed amount - min 0 Fixed amount - max 0 Reason for variation <1000 ETB=1%,<2000 birr=1.2%,<3000 ETB=1.3%, <4000ETB=1.4%, <5000 ETB=1.5%. Over 5000 ETB=0 Appears on Repayment Sched? Yes
Ongoing Insurance Fees This product has no ongoing insurance fees
Required for All Criteria N/A Is deposit indicated on the repayment schedule? Yes Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited 5.00% - 15.00% or, Fixed-amount deposited 0
Deposits DURING period payments
% loan amount deposited 5.00% - 15.00% or, Fixed-amount deposited 0 Conditions on access to deposit End Term
Interest Paid on Deposit
Minimum interest rate paid 5.00% Maximum interest rate paid 5.00% Interest payment frequency Annually
Taxes
Are taxes charged on this product? No
Additional Comments
Compulsory savings: <5000 ETB = 15%, <10,000 ETB Loan = 10%, >1 10,000 ETB Loan = 5%. Client deposits monthly the same amount, e.g 15% upfront plus 15% over the term of the loan in monthly installments. Interest savings is compounded semi-annually.
Business Loan - Group Price Graphs
0 100 Pricing Transparency Index Regulated Inst. Not Regulated Inst. NBFI Institution Type Business Loan Purpose Meklit Institution ET-009-V01-P02 Product ET Country 2011 Year Range Number 1 Institution Data Version 0 1,000 2,000 3,000 4,000 5,000 Loan Size (all) 0% 20% 40% 60% Full APR (int fee ins tax dep) > 400 200 20 Number of Borrowers* * Note: not all bubble sizes in this graph represent number of borrowers, as some samples do not have this data available. These bubbles are shown as a uniform small size. The pop-up text on each bubble will indicate the product scale and the sample scale.
