Institution # Borrowers Portfolio (US$) Products Age of Data
ACAWE10016,0002148
AfricaWorks6,5001,843,0008110
AZADER2003,0002149
BOM18,9006,422,0003118
CCOM9,1002,995,0006133
FDM7,2001,002,0004133
Hluvuku-ADSEMA5,3002,959,0003133
IRAM000133
ProCredit000133
Tchuma000133
SOCREMO-N/A160
Please note that the information you are viewing is 150 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

GM Bank of Luzon, Inc. Brgy. Dimasalang, Maharlika HighwayCabanatuan City, Nueva Ecija3100
Data approved: 2011-11-16
Data version: 1
Age of data: 150 months

Product

ASAP Loan Program Product 1 of 3 « Prev | Next »

Product Details

Key Statistics
Outstanding portfolio (PHP)PHP 42,501
Portfolio (USD)USD 1,016.77
Active Clients with Loans3,251
Approximate % Female Clients60% - 80%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
The Alalay SA Ating Pag-Unlad or ASAP Loan Product is a market-driven product which aims to provide affordable credit for micro-entrepreneurs to help them expand their present business activities and increase their income.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurance
Workplace visits
Business training
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 groupx
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyPHP
Minimum loan sizePHP 5,000
Maximum loan size150,000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term6.0 months
Approx average0
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
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 interest2.50%
Highest quoted nominal interest3.00%
Reason(s) why interest rate variesBranch
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionService ChargeNotarial Fee
% of loan amount - min2.00%0
% of loan amount - max4.00%0
OR, Fixed amount - min050
Fixed amount - max050
Reason for variationN/A
Appears on Repayment Sched?NoNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionMortgage Redemption Insurance
% of loan amount - min0.75%
% of loan amount - max0.75%
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?
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited0
or, Fixed-amount depositedPHP 100
Deposits DURING period payments
% loan amount deposited10.00%
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?Yes
Percentage of fees0
All or some fees taxedN/A

Full Pricing Data

ASAP Loan Program samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountPHP 6,000PHP 15,000PHP 30,000PHP 58,000PHP 85,000PHP 120,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2011-08-112011-06-292011-06-292011-06-242011-08-052011-03-16
Loan Term (Months)3.0 months2.8 months2.8 months5.6 months5.6 months5.6 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot KnownNot KnownNot Known
True Price by Comp           
Interest and Fee Component93.2%83.5%72.0%81.9%75.7%73.9%
Insurance Component8.3%9.2%8.1%5.0%4.6%4.5%
Tax Component7.3%5.6%14.3%5.2%5.6%5.4%
Deposit Component11.2%8.7%7.4%10.5%8.0%7.6%
Full APR (int fee ins tax dep)120.1%107.0%101.7%102.6%93.9%91.4%
Transparency Index252829293233
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF
ASAP Loan Program 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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