| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 2003 |
| Head of Institution | Nkosilathi Moyo |
| Regions active | |
| # Branches | 0 |
| Total Portfolio (nat'l) | ZMK 7,227,940,834 |
| Total Portfolio (USD) | USD 1,396,703.54 |
| Active clients with loans | 9,803 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 20% - 40% |
| Network affiliations | Association of Microfinance Institutions in Zambia |
| Funders | World Vision, Cordaid |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agriculture Loan | ZMK 750,000 - 2,500,000 | 4 - 24 | 40% - 60% | 0% - 20% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Business Training | |||||||
| Business Loan | ZMK 500,000 - 90,000,000 | 3 - 12 | 60% - 80% | 20% - 40% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Business Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Agriculture Loan | 51.0%-63.0% annual, Flat | 2 Fees | 1 Ins | None | N/A | 99.3% - 104.2% | 105.6% - 108.1% | 47 | ||||||||
| Business Loan | 51.0%-63.0% annual, Flat | 2 Fees | 1 Ins | None | 18.0% upfront | 86.6% - 102.1% | 124% - 144.9% | 37 |
| Outstanding portfolio (BOB) | BOB 75,865,351 |
| Portfolio (USD) | USD 11,239,311.26 |
| Active Clients with Loans | 530 |
| Approximate % Female Clients | 0% - 20% |
| Approximate % Urban Clients | 60% - 80% |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Vivienda |
| Other (2) |
| Credit education | |
| Group meetings | |
| 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 | x |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 6 |
| # Regions for this product | 6 |
| Regions Active | Chuquisaca , Cochabamba , La Paz , Oruro , Santa Cruz, Tarija |
| Currency | BOB |
| Minimum loan size | BOB 70,000 |
| Maximum loan size | 14,000,000 |
| Loans less than BOB 10,000 | 0 |
| BOB 10,000-40,000 | 0 |
| BOB 40,000-70,000 | 0 |
| BOB 70,000-100,000 | 15% |
| BOB 100,000-125,000 | 20% |
| Greater than BOB 125,000 | 20% |
| Shortest loan term | 24.0 months |
| Longest loan term | 305.0 months |
| Approx average | 107.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 |
| Lowest quoted nominal interest | 0.92% |
| Highest quoted nominal interest | 1.54% |
| Reason(s) why interest rate varies | Collateral |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | No |
| Ins 1 | |
|---|---|
| Description | Seguro de desgravamen |
| % of loan amount - min | 1.91% |
| % of loan amount - max | 14.80% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | La comisión es 0.07% mensual que aplica al saldo del principal del préstamo pendiente. |
| Appears on Repayment Sched? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | BOB 50,000 | BOB 100,000 | BOB 140,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-09-18 | 2013-09-18 | 2014-04-07 | ||
| Loan Term (Months) | 48.0 months | 60.0 months | 21.0 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | BOB 22,087.80 | BOB 51,542.26 | BOB 17,946.83 | ||
| True Price by Comp | |||||
| Interest price component | 18.6% | 17.1% | 15.3% | ||
| Fee Component | 0.0% | 0.0% | 0.0% | ||
| Insurance Component | 0.9% | 0.9% | 1.1% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 19.5% | 18.0% | 16.4% | ||
| Transparency Index | 31 | 33 | 67 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
