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Institution
Data approved: 2011-11-15
Data version: 1
Age of data: 157 months
Key Statistics
Outstanding portfolio (PHP) | PHP 3,008,874 |
Portfolio (USD) | USD 71,982.63 |
Active Clients with Loans | 886 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 0% - 20% |
Methodology
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other | |
Description
This type of product is created to provide CEVI existing and new clients a greater access to microfinance services. The loan product is assessed based on repayment capacity through cash flow analysis.
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 | |
Workplace visits | |
Business training | |
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 | |
Other | |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active | |
Loan Conditions
Loan Amount
Currency | PHP |
Minimum loan size | PHP 31,000 |
Maximum loan size | 150,000 |
Loan Term and Grace Period
Shortest loan term | 12.0 months |
Longest loan term | 24.0 months |
Approx average | 0 |
Grace Period
Grace period usage | 100% |
Average grace period | 0.5 months |
Repayment Frequency
Daily | |
Weekly | x |
Every 2 weeks | x |
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 | 2.50% |
Highest quoted nominal interest | 2.50% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Service charge |
% of loan amount - min | 2.50% |
% of loan amount - max | 2.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | Yes |
Ongoing Fees
| Fee 1 |
---|
Description | Client Training Fund |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 20 |
Fixed amount - max | 20 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Upfront Insurance Fees
| Ins 1 |
---|
Description | TASAKA |
% of loan amount - min | 0 |
% of loan amount - max | 0 |
OR, Fixed amount - min | 875 |
Fixed amount - max | 3,750 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | Yes |
Do borrowers control deposit in their group? | |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 20.00% |
or, Fixed-amount deposited | 0 |
Deposits DURING period payments
% loan amount deposited | 0 |
or, Fixed-amount deposited | PHP 200 |
Conditions on access to deposit | Access During |
Interest Paid on Deposit
Minimum interest rate paid | 3.00% |
Maximum interest rate paid | 3.00% |
Interest payment frequency | Monthly |
Taxes
Are taxes charged on this product? | No |
Additional Comments
If first loan cycle, Pre-CBU amount is P2. For succeeding loan cycles, as long as no withdrawals, no minimum CBU amount required. If with withdrawal, 2% of loan amount must be maintained. Member is allowed 2 withdrawals per month, as long as CBU does not go below 2% of principal loan amount. The Client Training Fund is used as client counterpart for their capacity building.
Full Pricing Data
Asenso Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
---|
Loan Amount | PHP 35,000 | | PHP 50,000 | | PHP 70,000 | | PHP 150,000 |
Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
Disbursement Date | 2011-05-31 | | 2011-05-17 | | 2011-05-24 | | 2011-03-11 |
Loan Term (Months) | 12.0 months | | 12.0 months | | 12.0 months | | 12.0 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 | 68.6% | | 62.9% | | 64.8% | | 58.9% |
Insurance Component | 7.9% | | 2.5% | | 3.7% | | 0.9% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 39.1% | | 3.8% | | 13.6% | | 27.4% |
Full APR (int fee ins tax dep) | 115.5% | | 69.1% | | 82.1% | | 87.2% |
Transparency Index | 26 | | 43 | | 37 | | 34 |
| | | | | | | |
Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |