Institution

Innovative Finance The Ghana Tours Building, C122/2 Farrar AvenueAdabrakaAccra, Greater AccraP.O. Box CT 153
Data approved: 2013-03-20
Data version: 2
Age of data: 132 months

Institution

Boabab Microfinance Company Ltd Head OfficeZogbeliTamale, NorthernP.O. Box E/R 550
Data approved: 2013-03-08
Data version: 2
Age of data: 132 months

Product

Susu Loan Product 5 of 6 « Prev | Next »

Product

Business Support Loan Product 1 of 3 « Prev | Next »

Product Summary

Number borrowers275
Loan Amount (range)GHS 200 - 1,500
Loan Term (range)3 - 8
Other Services (text summary)Credit Educ, Tech Asst Visits, Business Training, Other Training
Annual Interest & Method60.00%-84.00% annual, Flat
Fees2 fees
Insurance1.00% upfront
TaxNone
Comp Dep30.00% upfront
Range of pricing 
Interest Price Component84.9% - 110.4%
Fee Component11.3% - 31.6%
Insurance Component0 - 6.6%
Tax Component Range0
Full APR (int fee ins tax dep)166.9% - 235.4%
Transparency Index (min/max)25 - 36
Transparency Index (average)28

Product Summary

61
GHS 1,000 - 30,000
1 - 3
Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training
60.00% annual, Flat
3.00% upfront
None
None
10.00% upfront
 
63.1% - 91.9%
0 - 19.1%
0
0
101.7% - 126.1%
48 - 59
52

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 55,000
Portfolio (USD)USD 27,918.78
Active Clients with Loans275
Approximate % Female Clients60% - 80%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Designed using a susu methodology, suitable for individuals with microenterprises.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Educationx
Other household financex
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurance
Workplace visitsx
Business trainingx
Other trainingx
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 groupx
OtherMust contribute daily savings prior to receiving loan. Must have guarantor.
Other (2)Must have been working for the past 2-3 years
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveGreater Accra Region, Northern Region

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 330,000
Portfolio (USD)USD 167,512.69
Active Clients with Loans61
Approximate % Female Clients0% - 20%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Designed for individuals with businesses.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visitsx
Business trainingx
Other training
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 group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution1
# Regions for this product1
Regions ActiveNorthern Region

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 200
Maximum loan size1,500
Distribution at Disbursement (Est.)
Loans less than GHS 1,00090%
GHS 1,000-5,00010%
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 term3.0 months
Longest loan term8.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less20%
Between 4 and 6 months80%
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Dailyx
Weeklyx
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 1,000
Maximum loan size30,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,00010%
GHS 1,000-5,00030%
GHS 5,000-7,50020%
GHS 7,500-10,00015%
GHS 10,000-13,00015%
Greater than GHS 13,00015%
Loan Term and Grace Period
Shortest loan term1.0 month
Longest loan term3.0 months
Approx average3.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less100%
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
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

Pricing Information

Interest
Lowest quoted nominal interest5.00%
Highest quoted nominal interest7.00%
Reason(s) why interest rate variesBranch, Time as Client, Loan Size, Client Risk, Collateral, Loan Purpose
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 FeeCommitment Fee
% of loan amount - min3.00%2.00%
% of loan amount - max3.00%2.00%
OR, Fixed amount - min00
Fixed amount - max00
Reason for variationN/AN/A
Appears on Repayment Sched?NoNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Fee
% 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?No
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?Yes
Deposit BEFORE or AT Disbursement
% loan amount deposited30.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid2.00%
Maximum interest rate paid8.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest5.00%
Highest quoted nominal interest5.00%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
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 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 deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
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

Susu Loan samples
Sample 1Sample 2Sample 3
Loan AmountGHS 200GHS 1,000GHS 1,500
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2012-10-242013-01-072012-11-23
Loan Term (Months)3.1 months7.0 months6.0 months
Grace Period (Months)0.0 months1.0 month0.0 months
Total Cost of CreditGHS 48.10GHS 420.20GHS 630
True Price by Comp     
Interest price component100.3%84.9%110.4%
Fee Component31.6%14.6%19.3%
Insurance Component6.6%3.1%4.0%
Tax Component0.0%0.0%0.0%
Deposit Component96.9%64.3%96.6%
Full APR (int fee ins tax dep)235.4%166.9%230.3%
Transparency Index253626
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF

Full Pricing Data

Business Support Loan samples
Sample 1Sample 2Sample 3Sample 4Sample 5
Loan AmountGHS 1,500GHS 2,700GHS 6,000GHS 10,000GHS 15,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2013-02-282013-02-252012-07-102013-01-232013-03-07
Loan Term (Months)6.0 months4.0 months3.1 months3.0 months6.0 months
Grace Period (Months)-0.1 months-0.1 months0.0 months0.0 months0.0 months
Total Cost of CreditGHS 405GHS 621GHS 1,080GHS 1,800GHS 4,050
True Price by Comp         
Interest price component77.3%91.9%83.8%86.1%75.3%
Fee Component11.4%15.7%18.5%19.1%11.0%
Insurance Component0.0%0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%0.0%
Deposit Component16.0%18.5%16.6%17.0%15.4%
Full APR (int fee ins tax dep)104.7%126.1%118.9%122.2%101.7%
Transparency Index5748504959
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF
Susu Loan Price Graphs


Business Support Loan Price Graphs


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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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