2. FINCA Zambia
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  2. Fortaleza
Please note that the information you are viewing is 135 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

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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Institution

Banco Fortaleza Sociedad Anónima Av. Arce No, 2799 esq. CorderoLa Paz, Bolivia
Data approved: 2013-09-23
Data version: 2
Age of data: 135 months
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  • No previous version for this product.

Product

Small Group Loan Product 5 of 7 « Prev | Next »

Product

Crédito Vehículo Nuevo Product 10 of 13 « Prev | Next »

Product Summary

Number borrowers12,425
Loan Amount (range)ZMW 1,200 - 15,000
Loan Term (range)6 - 12
Other Services (text summary)Group Mtgs, Credit Ins
Annual Interest & Method52.0% annual, Decl Bal
Fees7.96%-8.00% upfront 25.00 upfront
Insurance1.00% upfront
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component50.6% - 50.9%
Fee Component15.8% - 40.3%
Insurance Component1.7% - 4.2%
Tax Component Range0
Full APR (int fee ins tax dep)72.6% - 95.2%
Transparency Index (min/max)54 - 75
Transparency Index (average)63

Product Summary

151
BOB 40,000 - 700,000
49 - 98
Credit Ins
12.0% annual, Decl Bal
None
2.34% ongoing
None
N/A
 
12.1% - 27.6%
0
0.2% - 2.1%
0
13.0%
8 - 1062
62

Product Details

Key Statistics
Outstanding portfolio (ZMW)ZMW 22,650,672
Portfolio (USD)USD 3,537,581.12
Active Clients with Loans12,425
Approximate % Female Clients60% - 80%
Approximate % Urban Clients60% - 80%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Small group loans is a loan product smaller than Village Banking. It comprises of 5 to 10 members. The group is formed by 5 to 10 enterpreneurs who know and trust each other.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
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 solidarity group
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution5
# Regions for this product5
Regions ActiveCentral Province, Copperbelt Province, Eastern Province, Northern Province, Southern Province

Product Details

Key Statistics
Outstanding portfolio (BOB)BOB 18,246,072
Portfolio (USD)USD 2,703,121.78
Active Clients with Loans151
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Prestamo destinado a la compra de vehiculo nuevo para uso particular
Loan Purpose
Any purpose
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
OtherUso particular compra vehiculo nuevo
Other (2)
Included Services
Credit education
Group meetings
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution6
# Regions for this product6
Regions ActiveChuquisaca , Cochabamba , La Paz , Oruro , Santa Cruz, Tarija

Loan Conditions

Loan Amount
CurrencyZMW
Minimum loan sizeZMW 1,200
Maximum loan size15,000
Distribution at Disbursement (Est.)
Loans less than ZMW 5000
ZMW 500-2,00040%
ZMW 2,000-3,25020%
ZMW 3,250-4,50015%
ZMW 4,500-6,00010%
Greater than ZMW 6,00010%
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average9.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months50%
Between 7 and 9 months40%
Between 10 and 12 months10%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyBOB
Minimum loan sizeBOB 40,000
Maximum loan size700,000
Distribution at Disbursement (Est.)
Loans less than BOB 10,0000
BOB 10,000-40,0000
BOB 40,000-70,00015%
BOB 70,000-100,00030%
BOB 100,000-125,00030%
Greater than BOB 125,00030%
Loan Term and Grace Period
Shortest loan term49.0 months
Longest loan term98.0 months
Approx average92.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months100%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest4.33%
Highest quoted nominal interest4.33%
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionArrangement and Deposit FeeAsset Inspection Fee
% of loan amount - min7.96%0
% of loan amount - max8.00%0
OR, Fixed amount - min025
Fixed amount - max025
Reason for variation1.96% 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?YesYes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionCredit Life Insurance
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest1.00%
Highest quoted nominal interest1.00%
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
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
Ins 1
DescriptionSeguro de desgravamen
% of loan amount - min2.34%
% of loan amount - max2.34%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationLa comisión es 0.07% mensual que aplica al saldo del principal del préstamo pendiente.
Appears on Repayment Sched?Yes
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Full Pricing Data

Small Group Loan samples
Type of Sample
Grace Period (Months)
Full APR (int fee ins tax dep)
True Price by Component
Interest price component
Fee Component
Insurance Component
Tax Component
Deposit Component
ZMW 1,020 Generated 2014-11-01 6.0 months 0.0 months ZMW 275.80 95.2% 50.9% 40.1% 4.2% 0.0% 0.0% 55 - PDF
ZMW 1,800 Generated 2014-11-01 9.1 months 0.0 months ZMW 596.35 79.5% 50.9% 25.6% 3.0% 0.0% 0.0% 65 - PDF
ZMW 2,400 Generated 2014-11-01 12.2 months 0.0 months ZMW 965.91 72.6% 50.9% 19.4% 2.3% 0.0% 0.0% 72 - 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 4,000 Generated 2014-11-01 9.1 months 0.0 months ZMW 1,294.67 77.2% 50.9% 23.4% 2.9% 0.0% 0.0% 67 - PDF
ZMW 5,100 Generated 2014-11-01 6.0 months 0.0 months ZMW 1,278.98 87.1% 50.9% 32.1% 4.1% 0.0% 0.0% 60 - PDF
ZMW 6,000 Generated 2014-11-01 9.1 months 0.0 months ZMW 1,929.51 76.6% 50.9% 22.8% 2.9% 0.0% 0.0% 68 - PDF
ZMW 7,000 Generated 2014-11-01 6.0 months 0.0 months ZMW 1,746.15 86.5% 50.9% 31.6% 4.0% 0.0% 0.0% 60 - PDF

Full Pricing Data

Crédito Vehículo Nuevo samples
Sample 1Sample 2Sample 3
Loan AmountBOB 80,000BOB 115,000BOB 135,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2014-01-082014-01-082014-01-08
Loan Term (Months)60.0 months60.0 months60.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditBOB 28,647.35BOB 41,180.59BOB 48,342.33
True Price by Comp     
Interest price component12.1%12.1%12.1%
Fee Component0.0%0.0%0.0%
Insurance Component0.9%0.9%0.9%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)13.0%13.0%13.0%
Transparency Index626262
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Small Group Loan Price Graphs
0100Pricing Transparency IndexRegulated Inst.Not Regulated Inst.NBFIInstitution TypeBusinessLoan PurposeFINCA ZambiaInstitutionZM-008-V02-P05ProductZMCountry2014YearRange Number2Institution Data Version02,0004,0006,000Loan Size (all)0%20%40%60%80%100%Full APR (int fee ins tax dep)> 2,4001,8001,20060060Number of Borrowers
Click to view Price Analysis Tool
Crédito Vehículo Nuevo Price Graphs
0100Pricing Transparency IndexRegulated Inst.Not Regulated Inst.BankInstitution TypeOtherLoan PurposeFortalezaInstitutionBO-017-V02-P10ProductBOCountry2013YearRange Number2Institution Data Version050,000100,000Loan Size (all)0%5%10%Full APR (int fee ins tax dep)> 1081Number of Borrowers
Click to view Price Analysis Tool
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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
Filter table:
Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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By Country

Total Borrowers of Samples

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