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Institution

Empowerment Micro Finance institution ltd 72, Sikoongo RoadSiavonga, Zambia, Souther ProvinceP.O.BOX 183
Data approved: 2011-12-12
Data version: 1
Age of data: 156 months

Institution

AIDEZ Small Project International HSN C191/18, AbelemkpeAccra, Greater Accra
Data approved: 2013-03-26
Data version: 2
Age of data: 132 months
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Product

Salary Backed Loan Product 3 of 5 « Prev | Next »

Product

Petty Traders Loan (PTL) Product 8 of 8 « Prev | Next »

Product Summary

Number borrowers51
Loan Amount (range)ZMK 500,000 - 7,000,000
Loan Term (range)2 - 10
Other Services (text summary)
Annual Interest & Method30.0%-42.0% annual, Flat
Fees10,000.00 upfront
InsuranceNone
TaxNone
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component48.9% - 50.6% (Int+Fee)
Insurance Component0 - 7.8%
Tax Component Range0
Full APR (int fee ins tax dep)48.9% - 50.6%
Transparency Index (min/max)0 - N/A
Transparency Index (average)60

Product Summary

300
GHS 50 - 2,000
3 - 12
Credit Educ, Group Mtgs, Business Training
48.00% annual, Flat
4.00% upfront
None
None
20.00% upfront
 
77.3% - 114.4%
11.4% - 48.3%
0
0
174.6% - 183.6%
23 - 35
26

Product Details

Key Statistics
Outstanding portfolio (ZMK)ZMK 93,225,090
Portfolio (USD)USD 18,014.51
Active Clients with Loans51
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This loan is paid by installment due by the client through a deduction from his/her payslip. The interest rate for this product is lower than the one foreseen for Individual loans. Collateral are still required.
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurance
Workplace visits
Business training
Other training
Other
Other (2)
No other servicesx
Eligibility
Menx
Womenx
Must run a business
Must own a home or land
Must be a salaried workerx
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (GHS)GHS 72,000
Portfolio (USD)USD 36,548.22
Active Clients with Loans300
Approximate % Female Clients80% - 100%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
Other
Description
Designed for small/micro businesses to enable income-generation. Loan ranges between GHS 50-2000.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a businessx
Must own a home or land
Must be a salaried worker
Must be specific age group
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveGreater Accra Region, Volta Region

Loan Conditions

Loan Amount
CurrencyZMK
Minimum loan sizeZMK 500,000
Maximum loan size7,000,000
Loan Term and Grace Period
Shortest loan term2.0 months
Longest loan term10.0 months
Approx average6.0 months
Grace Period
Grace period usage10%
Average grace period0.5 months
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyGHS
Minimum loan sizeGHS 50
Maximum loan size2,000
Distribution at Disbursement (Est.)
Loans less than GHS 1,00060%
GHS 1,000-5,00040%
GHS 5,000-7,5000
GHS 7,500-10,0000
GHS 10,000-13,0000
Greater than GHS 13,0000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term12.0 months
Approx average7.5 months
Distribution at Disbursement (Est.)
Loans 3 months or less60%
Between 4 and 6 months30%
Between 7 and 9 months10%
Between 10 and 12 months0
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period0.1 months
Repayment Frequency
Daily
Weeklyx
Every 2 weeks
Every 4 weeks
Monthly
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular paymentsx

Pricing Information

Interest
Lowest quoted nominal interest30.00%
Highest quoted nominal interest42.00%
Reason(s) why interest rate variesThe interest rate can vary between 30% and 42% depending on the number of employees within the company that can access the loan. The past performances of the employer in term of creditwortiness are also considered
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionApplication Fee
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min10,000
Fixed amount - max10,000
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forNever
CriteriaN/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 depositedN/A
or, Fixed-amount depositedN/A
Deposits DURING period payments
% loan amount depositedN/A
or, Fixed-amount depositedN/A
Conditions on access to depositN/A
Interest Paid on Deposit
Minimum interest rate paidN/A
Maximum interest rate paidN/A
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest4.00%
Highest quoted nominal interest4.00%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min4.00%
% of loan amount - max4.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationn/a
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited20.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount deposited0
Conditions on access to depositFinal Pmt
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Full Pricing Data

Salary Backed Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountZMK 1,200,000ZMK 3,000,000ZMK 3,000,000ZMK 4,000,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2010-11-182010-11-182010-11-182010-11-24
Loan Term (Months)7.0 months12.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component50.6%50.3%50.3%48.9%
Insurance Component0.0%0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)50.6%50.3%50.3%48.9%
Transparency Index59606061
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Petty Traders Loan (PTL) samples
Sample 1Sample 2Sample 3
Loan AmountGHS 300GHS 600GHS 1,400
Loan Cycle (1, 2, 3, etc)122
Disbursement Date2013-01-282012-12-262012-12-27
Loan Term (Months)2.6 months2.6 months3.5 months
Grace Period (Months)0.2 months0.2 months0.2 months
Total Cost of CreditGHS 48GHS 96GHS 280
True Price by Comp     
Interest price component92.1%92.1%92.7%
Fee Component33.7%33.7%26.2%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component57.8%57.8%55.7%
Full APR (int fee ins tax dep)183.6%183.6%174.6%
Transparency Index262627
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Salary Backed Loan Price Graphs


Petty Traders Loan (PTL) 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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