Institution

Innovative Finance The Ghana Tours Building, C122/2 Farrar AvenueAdabrakaAccra, Greater AccraP. BOX CT153
Data approved: 2011-12-07
Data version: 1
Age of data: -   months 

Institution

BestFUND Head OfficeCantomentsAccra, Greater AccraP.O. Box CT 5217
Data approved: 2013-03-04
Data version: 2
Age of data: 132 months

Institution Details

Institution TypePrivate 'For-Profit'
Is this institution regulated?Yes
Website addresshttp://www.myinnovativefinance.com/
Year established1999
Head of InstitutionSheila Azuntaba
Regions active0
# Branches2

Total Portfolio (nat'l)GHS 576,895
Total Portfolio (USD)USD 384,596.67
Active clients with loans356
Approximate % female clients60% - 80%
Approximate % urban clients60% - 80%
Network affiliationsGHANA COOPERATIVE OF SUSU COLLECTORS ASSOCIATION, GHANA MICROFINANCE NETWORK
Funders

Institution Details

Institution TypeNon-Governmental Organization
Is this institution regulated?No
Website addresshttp://www.bestfundghana.org
Year established2005
Head of InstitutionDr. Emmanuel Shaft Boamah
Regions activeGreater Accra Region, Ashanti Region
# Branches3

Total Portfolio (nat'l)GHS 8,220,420
Total Portfolio (USD)USD 4,172,802.03
Active clients with loans13,064
Approximate % female clients60% - 80%
Approximate % urban clients0% - 20%
Network affiliationsGHAMFIN, ASSFIN, AMT
Funders

Loan Products » Summary

4 Borrowers
USD 7,237 Portfolio
Active Product
3 Borrowers
USD 4,000 Portfolio
Active Product
165 Borrowers
USD 104,171 Portfolio
Active Product

Loan Products » Summary

1,211 Borrowers
USD 1,071,131.98 Portfolio
Active Product
9,642 Borrowers
USD 2,535,665.48 Portfolio
Active Product
2,211 Borrowers
USD 566,004.57 Portfolio
Active Product

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Innovative Auto Loan 0 0 0% - 20% 80% - 100%
Innovative Micro-Leasing 0 0 60% - 80% 60% - 80%
Susu Loan GHS 200 - 1,500 3 - 8 60% - 80% 60% - 80%

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Capacity Loan GHS 3,000 - 8,000 6 - 10 60% - 80% 0% - 20% Business, Education Women, Men, Have business, Salaried worker Credit Ins, Tech Asst Visits
Group Loan GHS 2,000 - 10,000 5 - 8 80% - 100% 0% - 20% Business, Education, Land Women, Men, Have business, Salaried worker Group Mtgs, Tech Asst Visits
Individual Loan GHS 500 - 1,000 4 - 6 60% - 80% 0% - 20% Business Women, Men, Have business Credit Ins

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Innovative Auto Loan 0.00% annual, 0 0 Fees 0 Ins 119.5% - 143.2% 205.7% - 261%
Innovative Micro-Leasing 0.00% annual, 0 0 Fees 0 Ins 109.1% - 145.4% 202% - 264.9%
Susu Loan 60.00%-0.00% annual, Flat 2 Fees 1 Ins 138.9% - 157.7% 256.4% - 287.6% 21

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Capacity Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins None 10.0% upfront 64.5% - 68% 74.9% - 78.8% 47
Group Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins None 10.0% upfront 59% - 70.2% 68.1% - 81.6% N/A
Individual Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins None 10.0% upfront 62.3% - 69.1% 72.1% - 80.2% 47

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Innovative Auto Loan 0.00% annual, 0 0 Fees 0 Ins Ins 119.5% - 143.2% 205.7% - 261%
Innovative Micro-Leasing 0.00% annual, 0 0 Fees 0 Ins Ins 109.1% - 145.4% 202% - 264.9%
Susu Loan 60.00%-0.00% annual, Flat 2 Fees 1 Ins Ins 138.9% - 157.7% 256.4% - 287.6% 21

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Capacity Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins Ins None 10.0% upfront 64.5% - 68% 74.9% - 78.8% 47
Group Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins Ins None 10.0% upfront 59% - 70.2% 68.1% - 81.6% N/A
Individual Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins Ins None 10.0% upfront 62.3% - 69.1% 72.1% - 80.2% 47
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Country InstAbbrev SampleCode Loan Amount USD Loan Term (Months) SampClients FullAPR DateApproved
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