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Institution
Data approved: 2011-12-07
Data version: 1
Age of data: - months
Key Statistics
Outstanding portfolio (GHS) | GHS 3,974,270 |
Portfolio (USD) | USD 2,649,513 |
Active Clients with Loans | 5,589 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
Methodology
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other | |
Description
This is the business loan taken by clients with a minimum and maximum loan size of 500 and 2000 Cedis. The loan must be used either for an existing business or to start a business.\r
Loan Purpose
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) | |
Included Services
Credit education | x |
Group meetings | x |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services | |
Eligibility
Men | |
Women | x |
Must run a business | x |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Must have a business plan to start a business |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active | |
Loan Conditions
Loan Amount
Currency | GHS |
Minimum loan size | GHS 500 |
Maximum loan size | 2,000 |
Loan Term and Grace Period
Shortest loan term | 6.0 months |
Longest loan term | 12.0 months |
Approx average | 10.0 months |
Distribution at Disbursement (Est.)
Loans 3 months or less | N/A |
Between 4 and 6 months | N/A |
Between 7 and 9 months | N/A |
Between 10 and 12 months | N/A |
Between 13 and 18 months | N/A |
Longer than 18 months | N/A |
Grace Period
Grace period usage | 0 |
Average grace period | 0 |
Repayment Frequency
Daily | |
Weekly | x |
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 | 3.00% |
Highest quoted nominal interest | 3.00% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | N/A |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Registration fee |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 5 |
Fixed amount - max | 5 |
Reason for variation | |
Appears on Repayment Sched? | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Insurance Fee |
% of loan amount - min | 1.00% |
% of loan amount - max | 1.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | No |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 10.00% - NA |
or, Fixed-amount deposited | 0 - NA |
Deposits DURING period payments
% loan amount deposited | 0 - NA |
or, Fixed-amount deposited | GHS 3 - NA |
Conditions on access to deposit | End Term |
Interest Paid on Deposit
Minimum interest rate paid | 6.00% |
Maximum interest rate paid | 6.00% |
Interest payment frequency | Annually |
Taxes
Are taxes charged on this product? | |
Additional Comments
periodic savings during instalment payment are flexible and not fixed at only 3 cedes
Full Pricing Data
Business Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
---|
Loan Amount | 700 | | 800 | | 1,000 | | 1,500 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2012-12-10 | | 2012-08-06 | | 2013-03-25 | | 1900-01-00 |
Loan Term (Months) | 5.6 months | | 10.5 months | | 10.0 months | | 10.0 months |
Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months |
Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known |
True Price by Comp | | | | | | | |
Interest and Fee Component | 77.7% | | 73.7% | | 62.0% | | 61.5% |
Insurance Component | 4.7% | | 2.6% | | 2.5% | | 2.5% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 26.9% | | 27.0% | | 24.4% | | 19.7% |
Full APR (int fee ins tax dep) | 109.3% | | 103.3% | | 88.8% | | 83.8% |
Transparency Index | 33 | | 35 | | 41 | | 43 |
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Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Business Loan Price Graphs