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Institution
Data approved: 2013-02-20
Data version: 2
Age of data: 132 months
Key Statistics
| Outstanding portfolio (GHS) | GHS 765,867 |
| Portfolio (USD) | USD 388,764.97 |
| Active Clients with Loans | 3,170 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | |
Description
Group loan designed for micro-entrepreneurs whose businesses generate daily to monthlycash flows.
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 | x |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| 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 | x |
| Other | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 1 |
| # Regions for this product | 1 |
| Regions Active | Central Region |
Loan Conditions
Loan Amount
| Currency | GHS |
| Minimum loan size | GHS 2,000 |
| Maximum loan size | 14,000 |
Distribution at Disbursement (Est.)
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 40% |
| GHS 5,000-7,500 | 20% |
| GHS 7,500-10,000 | 20% |
| GHS 10,000-13,000 | 15% |
| Greater than GHS 13,000 | 15% |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 6.0 months |
| Approx average | 6.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| 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
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | |
| 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 | 44.00% |
| Highest quoted nominal interest | 44.00% |
| Reason(s) why interest rate varies | N/A |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
|---|
| Description | Loan Processing Fee | | Application Form Fee |
| % of loan amount - min | 3.00% | | 0 |
| % of loan amount - max | 3.00% | | 0 |
| OR, Fixed amount - min | 0 | | 2 |
| Fixed amount - max | 0 | | 2 |
| Reason for variation | N/A | | N/A |
| Appears on Repayment Sched? | Yes | | 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 | N/A |
| Appears on Repayment Sched? | Yes |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
Deposits DURING period payments
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
Interest Paid on Deposit
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
The one fee not appearing on the loan documentation - application form fee - is communicated to clients through a training module before they make their credit decision.
Full Pricing Data
Six Months Group Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | GHS 3,000 | | GHS 6,500 | | GHS 8,000 | | GHS 12,000 |
| Loan Cycle (1, 2, 3, etc) | 6 | | 1 | | 5 | | 2 |
| Disbursement Date | 2012-10-12 | | 2012-12-05 | | 2012-11-22 | | 2012-12-12 |
| Loan Term (Months) | 6.0 months | | 6.0 months | | 6.0 months | | 6.0 months |
| Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months |
| Total Cost of Credit | GHS 782 | | GHS 1,692 | | GHS 2,082 | | GHS 3,122 |
| True Price by Comp | | | | | | | |
| Interest price component | 70.9% | | 70.9% | | 70.9% | | 70.9% |
| Fee Component | 11.5% | | 11.3% | | 11.3% | | 11.3% |
| Insurance Component | 3.8% | | 3.9% | | 3.8% | | 3.8% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Full APR (int fee ins tax dep) | 86.2% | | 86.1% | | 86.0% | | 86.0% |
| Transparency Index | 51 | | 51 | | 51 | | 51 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Six Months Group Loan Price Graphs
