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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: 102 months

Product

Solidarity Group Loan Product 5 of 5 « Prev | Next »

Product Details

Key Statistics
Outstanding portfolio (ZMK)ZMK 241,506,390
Portfolio (USD)USD 46,667.90
Active Clients with Loans521
Approximate % Female Clients60% - 80%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This loan is given to people in selfselected groups that want to start up a small business or boost an existing business. Groups consist of 3-7 members. The product is structured in 4 different levels which differ for interest & amount.
Loan Purpose
Any purpose
Income generationx
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
OtherRecord Keeping Training
Other (2)Household Approach Training, Monthly Monitoring
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 institutionN/A
# Regions for this productN/A
Regions Active

Loan Conditions

Loan Amount
CurrencyZMK
Minimum loan sizeZMK 400,000
Maximum loan size1,200,000
Loan Term and Grace Period
Shortest loan term4.0 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

Pricing Information

Interest
Lowest quoted nominal interest3.50%
Highest quoted nominal interest5.00%
Reason(s) why interest rate variesLoan Size
Interest rate periodMonthly
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
Additional Comments
Each member within a group should attend a number of compulsory training before disbursement. Non attendance could disqualified the client from receiving the loan. Training are in Business Management, Household Approach and Microcredit Scheme

Full Pricing Data

Solidarity Group Loan samples
Sample 1Sample 2Sample 3
Loan AmountZMK 400,000ZMK 600,000ZMK 1,200,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2011-06-132011-06-062011-05-30
Loan Term (Months)4.0 months4.0 months5.0 months
Grace Period (Months)0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot Known
True Price by Comp     
Interest and Fee Component96.0%94.2%68.6%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%
Full APR (int fee ins tax dep)96.0%94.2%68.6%
Transparency Index444561
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Solidarity Group Loan Price Graphs


Institution # Borrowers Portfolio (US$) Products Age of Data
ACSI682,200103,172,000595
ADCSI176,10030,846,000296
BG47,0004,048,000495
DECSI361,00096,304,000795
Dire4,900828,000495
DMCPSC1,20069,000195
Eshet18,8002,392,000395
Harbu22,4001,757,000295
Meklit12,2001,395,000495
Metemamen10,500650,000695
OCSSCO502,70069,565,000395
OMO323,60031,385,000495
PEACE17,2002,462,000395
SFPI33,6002,750,000395
Sidama53,4001,162,000695
Wasasa49,3005,798,000495
Wisdom MFI45,3005,500,000692
Caps / Zoom options
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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