Please note that the information you are viewing is 106 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

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: 106 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
1st Valley Bank38,90048,291,0003101
AJDFI13,100884,0006101
ARDCI44,6009,403,0001101
ASA Philippines333,40029,282,0001101
ASHI35,4005,231,0006101
ASKI60,00015,247,0004101
Bangko Kabayan8,9002,373,0002101
BSEI60073,0002101
CBI8,1002,010,0005101
CCT70,3009,504,0004101
CEV35,4005,111,0004101
DSPI59,3003,676,0003101
ECLOF5,4001,836,0004101
FCB12,0002,392,0002101
FMB2,700710,0002101
GM Bank23,5001,553,0003101
HSPFI19,1001,899,0002101
JVOFI1,300281,0001101
Katipunan Bank42,1005,325,0002101
KDCI20,5002,095,0003101
KGI32,3003,421,0004101
KMBI245,00015,098,0001101
LTMPC37,4008,935,0003101
Mallig Plains6,500641,0002101
MILAMDEC29,8003,278,0002101
MWIMPC11,8001,740,0004100
NWTF105,50012,698,0005101
OFMPC4,400964,0001101
PBC50,70010,434,0004101
PCSD700167,0001101
PMPC23,5005,565,0008101
RB Angeles9001,502,0002101
RB Labason500289,0001101
RBLI5,2001,026,0002101
RBMI11,9001,750,0002101
RMB100173,0001101
RSPI39,6002,834,0004101
SAFRAGEMC1,100229,0001101
Salve10,9001,191,0003101
SEDP27,0003,914,0003101
TSKI212,90025,187,0002101
TSPI264,50031,290,0007101
Valient1,700672,0002101
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
Loading...
X Axis
Greater than:
Less or equal to:
N (# of Samples)
Total Borrrowers of Samples
Avg
Min
Max
Std Dev
By Inst Type
By Country

Total Borrowers of Samples

X Axis
Greater than:
Less or equal to:
From 0 to
to
to
to