2. FINCA
Please note that the information you are viewing is 114 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. Rich Step
Please note that the information you are viewing is 132 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 J. Jabbarli str. 44Baku, AzerbaijanAZ 1065
Data approved: 2014-10-10
Data version: 3
Age of data: 114 months
Choose version

Institution

Rich Step Investment Head OfficeTemaKpone, Greater AccraP.O. Box SC116
Data approved: 2013-03-14
Data version: 2
Age of data: 132 months
Choose version

Product

Express Loan (USD) Product 3 of 12 « Prev | Next »

Product

Petty Traders Loan Product 1 of 1 « Prev | Next »

Product Summary

Number borrowers8,462
Loan Amount (range)USD 100 - 25,000
Loan Term (range)3 - 36
Other Services (text summary)
Annual Interest & Method24.0%-32.0% annual, Decl Bal
Fees2.00%-3.00% upfront
InsuranceNone
TaxNone
Comp DepN/A
Range of pricing 
Interest Price Component21.8% - 38.4%
Fee Component1.5% - 7.1%
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)29.4% - 34.3%
Transparency Index (min/max)57 - 94
Transparency Index (average)74

Product Summary

150
GHS 50 - 1,000
1 - 5
Group Mtgs, Credit Ins, Other Training
60.00%-120.00% annual, Flat
2 fees
None
None
25.00% upfront
 
121.8% - 212.2%
17.8% - 41.3%
0
0
259.4% - 420.1%
14 - 23
16

Product Details

Key Statistics
Outstanding portfolio (USD)USD 38,015,232.05
Portfolio (USD)USD 38,015,232.05
Active Clients with Loans8,462
Approximate % Female Clients0% - 20%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Available to entrepreneurs engaged in trade, manufacturing or service industries.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other servicesx
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)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution8
# Regions for this product8
Regions ActiveAbsheron, Ganja-Qazakh, Shaki-Zaqatala, Lankaran-Astara, Quba-Khachmaz, Orta Kur, Daglig-Shirvan, Nakhichevan

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 200,000
Portfolio (USD)USD 101,522.84
Active Clients with Loans150
Approximate % Female Clients40% - 60%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
Other
Description
Designed for petty traders to increase capital.
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 trainingx
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or landx
Must be a salaried worker
Must be specific age groupx
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution1
# Regions for this product1
Regions ActiveGreater Accra Region

Loan Conditions

Loan Amount
CurrencyUSD
Minimum loan sizeUSD 100
Maximum loan size25,000
Distribution at Disbursement (Est.)
Loans less than USD 1,50010%
USD 1,500-5,00040%
USD 5,000-10,00040%
USD 10,000-15,0005%
USD 15,000-18,0000
Greater than USD 18,0000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term36.0 months
Approx average18.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months30%
Between 13 and 18 months40%
Longer than 18 months30%
Grace Period
Grace period usage10%
Average grace period3.0 months
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
CurrencyGHS
Minimum loan sizeGHS 50
Maximum loan size1,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,000100%
GHS 1,000-5,0000
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term5.0 months
Approx average5.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less50%
Between 4 and 6 months50%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period0.3 months
Repayment Frequency
Dailyx
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest24.00%
Highest quoted nominal interest32.00%
Reason(s) why interest rate variesLoan Size
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionCommission Fee
% of loan amount - min2.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationCommission varies with loan amount. 2% applied on loan amount $5000 and above, 3% on less than $5000. 2% commission flat fee is applicable for Nakhchivan only
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
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 interest5.00%
Highest quoted nominal interest10.00%
Reason(s) why interest rate variesClient Risk, First-cycle loans are charged 10%, multiple-cycle loans are charged 5%, due to differing risk of default.
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionProcessing FeeForm Fee
% of loan amount - min2.00%0
% of loan amount - max2.00%0
OR, Fixed amount - min03
Fixed amount - max03
Reason for variationN/AN/A
Appears on Repayment Sched?NoYes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited25.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositFinal Pmt
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Full Pricing Data

Express Loan (USD) 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
Interest price component
Fee Component
Insurance Component
Tax Component
Deposit Component
USD 2,550 Generated 2014-10-01 10.0 months 0.0 months USD 408.78 34.3% 29.6% 4.7% 0.0% 0.0% 0.0% 70 - PDF
USD 3,000 Generated 2014-10-01 18.1 months 0.0 months USD 725.16 29.4% 25.2% 4.2% 0.0% 0.0% 0.0% 82 - PDF
USD 3,450 Generated 2014-10-01 10.0 months 0.0 months USD 488.05 30.8% 23.8% 7.0% 0.0% 0.0% 0.0% 78 - PDF
USD 5,100 Generated 2014-10-01 12.1 months 0.0 months USD 911.55 32.1% 28.2% 3.9% 0.0% 0.0% 0.0% 75 - PDF
USD 6,000 Generated 2014-10-01 18.1 months 0.0 months USD 1,635.54 32.9% 28.7% 4.2% 0.0% 0.0% 0.0% 73 - PDF
USD 6,900 Generated 2014-10-01 24.3 months 0.0 months USD 2,632.10 33.9% 30.6% 3.3% 0.0% 0.0% 0.0% 71 - PDF
USD 18,000 Generated 2014-10-01 24.3 months 0.0 months USD 6,908.50 33.8% 31.6% 2.2% 0.0% 0.0% 0.0% 71 - PDF

Full Pricing Data

Petty Traders Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountGHS 200GHS 400GHS 500GHS 1,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2012-05-032012-06-192012-04-232012-08-22
Loan Term (Months)2.2 months3.2 months4.1 months2.2 months
Grace Period (Months)0.1 months0.1 months0.0 months0.1 months
Total Cost of CreditGHS 47GHS 131GHS 213GHS 143
True Price by Comp       
Interest price component204.1%210.7%212.2%121.8%
Fee Component41.3%23.5%17.8%25.5%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component174.7%157.6%136.3%112.1%
Full APR (int fee ins tax dep)420.1%391.8%366.3%259.4%
Transparency Index14151623
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Express Loan (USD) Price Graphs


Click to view Price Analysis Tool
Petty Traders Loan Price Graphs


Click to view Price Analysis Tool
Caps / Zoom options
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
Loading...
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

Total Borrowers of Samples

X Axis
Greater than:
Less or equal to:
From 0 to
to
to
to ∞