| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 2003 |
| Head of Institution | Siku Nkhoma |
| Regions active | Dedza, Dowa, Kasungu, Lilongwe, Ntcheu, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Balaka, Blantyre, Chikwawa, Chiradzulu, Machinga, Mulanje |
| # Branches | 1 |
| Total Portfolio (nat'l) | MWK 250,550,466.50 |
| Total Portfolio (USD) | USD 642,437.09 |
| Active clients with loans | 2,351 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | Slum Dwellers International, MAMN, Malawi Homeless People's Federation |
| Funders | Slum Dwellers International, Homeless International, African Development Bank, WASTE |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | MWK 10,000 - 10,000 | 6 | 80% - 100% | 80% - 100% | Business, Can only be used for working capital | Women, Men, Must be a member of the Malawi Homeless People's Federation. | Business Training | |||||||
| Home Improvement Loan | MWK 20,000 - 20,000 | 24 | 80% - 100% | 80% - 100% | Housing | Women, Men, Must be a member of the Malawi Homeless People's Federation | ||||||||
| Sanitation Loan | MWK 40,000 - 100,000 | 24 | 80% - 100% | 80% - 100% | Sanitation | Women, Men, Residents from the peri urban areas | ||||||||
| Water Loan | MWK 18,000 - 120,000 | 24 | 60% - 80% | 80% - 100% | water supply | Women, Men, Residents from the peri urban areas |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | 24.00% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.00% upfront | 16.8% | 16.8% | 100 | ||||||||
| Home Improvement Loan | 12.00% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.00% upfront | 10.9% | 10.9% | 100 | ||||||||
| Sanitation Loan | 12.00% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.00% upfront | 10.9% | 10.9% | 100 | ||||||||
| Water Loan | 12.00% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.00% upfront | 10.9% - 11% | 10.9% - 11% | 100 |
| Outstanding portfolio (TZS) | TZS 61,410,000 |
| Portfolio (USD) | USD 38,622.64 |
| Active Clients with Loans | 69 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| 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 | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | TZS |
| Minimum loan size | TZS 100,000 |
| Maximum loan size | 1,500,000 |
| Shortest loan term | 1.0 month |
| Longest loan term | 3.0 months |
| Approx average | 3.0 months |
| Loans 3 months or less | 100% |
| 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 | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 5.00% |
| Highest quoted nominal interest | 5.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 10,000 |
| Fixed amount - max | 10,000 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| 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 | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 20.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | TZS 100,000 | TZS 300,000 | TZS 500,000 | TZS 1,000,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2011-05-16 | 2011-05-25 | 2011-05-28 | 2011-05-19 | |||
| Loan Term (Months) | 2.8 months | 2.8 months | 2.8 months | 2.8 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 | 208.3% | 141.6% | 133.0% | 124.3% | |||
| Insurance Component | 10.1% | 8.8% | 8.9% | 8.7% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 117.9% | 76.6% | 72.9% | 68.0% | |||
| Full APR (int fee ins tax dep) | 336.3% | 227.0% | 214.8% | 201.0% | |||
| Transparency Index | 18 | 26 | 28 | 30 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
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| # 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 |
|---|---|---|---|---|---|---|---|
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