Foundation for International Community Assistance (FINCA) - Small Group Loan - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 125 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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Product

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Product Details

Key Statistics

Outstanding portfolio (ZMW)	ZMW 22,650,672
Portfolio (USD)	USD 3,537,581.12
Active Clients with Loans	12,425
Approximate % Female Clients	60% - 80%
Approximate % Urban Clients	60% - 80%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Small group loans is a loan product smaller than . 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 generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education
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	x
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 institution	5
# Regions for this product	5
Regions Active	Central Province, Copperbelt Province, Eastern Province, Northern Province, Southern Province

Loan Conditions

Loan Amount

Currency	ZMW
Minimum loan size	ZMW 1,200
Maximum loan size	15,000

Distribution at Disbursement (Est.)

Loans less than ZMW 500	0
ZMW 500-2,000	40%
ZMW 2,000-3,250	20%
ZMW 3,250-4,500	15%
ZMW 4,500-6,000	10%
Greater than ZMW 6,000	10%

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	12.0 months
Approx average	9.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	50%
Between 7 and 9 months	40%
Between 10 and 12 months	10%
Between 13 and 18 months	0
Longer than 18 months	0

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	4.33%
Highest quoted nominal interest	4.33%
Interest rate period	Monthly
Interest Rate Calculation Method	Decl Bal
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1	Fee 2
Description	Arrangement and Deposit Fee	Asset Inspection Fee
% of loan amount - min	7.96%	0
% of loan amount - max	8.00%	0
OR, Fixed amount - min	0	25
Fixed amount - max	0	25
Reason for variation	1.96% 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?	Yes	Yes

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Credit Life Insurance
% 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?	Yes

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

Small Group Loan samples

Loan Amount	Type of Sample	Disbursement Date	Loan Term (Months)	Grace Period (Months)	Total Cost of Credit	Full APR (int fee ins tax dep)	True Price by Component					Transparency Index	Original Repayment Schedule	MFT Pricing Calculation
Loan Amount	Type of Sample	Disbursement Date	Loan Term (Months)	Grace Period (Months)	Total Cost of Credit	Full APR (int fee ins tax dep)	Interest price component	Fee Component	Insurance Component	Tax Component	Deposit Component	Transparency Index	Original Repayment Schedule	MFT Pricing Calculation
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

Small Group Loan Price Graphs

Loan Size/

Loan Term/

Custom

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Please note that the information you are viewing is 122 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

FINCA Tanzania M.F.C. Limited Plot # 84 Morogoro Rd,Dar es SalaamP.O Box 78783

Data approved: 2014-11-04

Data version: 3

Age of data: 122 months

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Institution Details

Institution Type	Non Bank Financial Institution
Is this institution regulated?	Yes
Website address	http://www.finca.org/
Year established	1998
Head of Institution	Tom Kocsis
Regions active	Arusha, Dar es Salaam, Dodoma, Iringa, Kagera, Kilimanjaro, Manyara, Mwanza, Pwani, Ruvuma, ShinyangaSingida, Tabora, Tanga
# Branches	26

Total Portfolio (nat'l)	TZS 50,112,584,494
Total Portfolio (USD)	USD 31,517,348.74
Active clients with loans	78,486
Approximate % female clients	40% - 60%
Approximate % urban clients	40% - 60%
Network affiliations	FINCA International, FINCA Microfinance Holding Company LLC, Tanzania Association of Microfinance Institutions
Funders	Responsibility, Triple Jump, International Finance Corporation (IFC), KFW

Loan Products » Summary

Individual

9,944 Borrowers

USD 17,564,653.79 Portfolio

Small Group

12,475 Borrowers

USD 3,692,455.75 Portfolio

Village

56,067 Borrowers

USD 10,260,239.19 Portfolio

Loan Products » Conditions

Product Name	Loan Size Range	Loan Term (months)	% Female	% Urban	Loan Purpose	Eligibility	Other Services
Business Loan	TZS 500,000 - 30,000,000	3 - 18	20% - 40%	80% - 100%	Any Purpose	Women, Men, Have business	Credit Educ, Tech Asst Visits
Small Group Loan	TZS 350,000 - 4,000,000	6 - 12	40% - 60%	60% - 80%	Business	Women, Men, Have business	Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits
Village Banking Loan	TZS 30,000 - 3,000,000	6 - 10	60% - 80%	20% - 40%	Business	Women, Men, Have business	Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training

Loan Products » Pricing Information

Product Name	Annual Nominal Interest	Fees	Taxes	Compulsory Deposit	APR (int+fee)	Full APR	Transparency Index
Business Loan	36.0%-60.0% annual, Decl Bal	1 Fee	None	N/A	59.3% - 60.4%	59.3% - 60.4%	60
Small Group Loan	64.8% annual, Decl Bal	1 Fee	None	N/A	65.2% - 66.8%	65.2% - 66.8%	98
Village Banking Loan	78.0% annual, Decl Bal	0 Fees	None	N/A	75.7% - 82.2%	75.7% - 82.2%	98

Institution Price Graph

Loan Size/

Loan Term/

Custom

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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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

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	Less or equal to:
	From 0 to
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Institution

Product

Product Details

Key Statistics

Description

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Term and Grace Period

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Small Group Loan samples

Small Group Loan Price Graphs

Institution

Institution Details

Loan Products » Summary

Loan Products » Conditions

Loan Products » Pricing Information

Institution Price Graph

Total Borrowers of Samples

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