| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.finca.org/ |
| Year established | 2001 |
| Head of Institution | Keith Gary Sandbloom |
| Regions active | 0 |
| # Branches | 7 |
| Total Portfolio (nat'l) | ZMK 17,703,826,092 |
| Total Portfolio (USD) | USD 3,421,029.20 |
| Active clients with loans | 14,879 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 80% - 100% |
| Network affiliations | FINCA International |
| Funders | International donors |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | ZMK 1,500,000 - 50,000,000 | 4 - 12 | 40% - 60% | 80% - 100% | Business | Women, Men, Have business, Must have a valid National Registration Card, Must have business or personal assets to pledge | Tech Asst Visits, Credit Life Assurance and funeral benefits | |||||||
| Small Group Loans | ZMK 1,200,000 - 10,000,000 | 6 - 12 | 60% - 80% | 80% - 100% | Business | Women, Men, Have business, Must have a valid National Registration Card, Must be part of a selt selected group | Funeral Benefits | |||||||
| Village Banking | ZMK 150,000 - 7,000,000 | 4 - 6 | 60% - 80% | 80% - 100% | Business | Women, Men, Have business, Have a valid National Registration Card, Be part of a self selected group | Tech Asst Visits, Business Training, Other Training, Funeral benefits |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | 48.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0% upfront | 92.2% - 93.3% | 116.5% - 118.4% | 41 | ||||||||
| Small Group Loans | 60.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0% upfront | 106% - 111.9% | 133.3% - 140.6% | 43 | ||||||||
| Village Banking | 66.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0% upfront 12,000.00 ongoing | 127.6% | 201.8% - 347.5% | 27 |
| Outstanding portfolio (USD) | USD 707,896.05 |
| Portfolio (USD) | USD 707,896.05 |
| Active Clients with Loans | 2,342 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | x |
| Other training | x |
| Other | |
| Other (2) | |
| No other services |
| Men | |
| Women | |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | USD |
| Minimum loan size | USD 251 |
| Maximum loan size | 1,000 |
| Shortest loan term | 0 |
| Longest loan term | 0 |
| Approx average | 0 |
| Loans 3 months or less | N/A |
| Between 4 and 6 months | N/A |
| Between 7 and 9 months | N/A |
| Between 10 and 12 months | N/A |
| Between 13 and 18 months | N/A |
| Longer than 18 months | N/A |
| Grace period usage | 0 |
| Average grace period | 0 |
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 2.80% |
| Highest quoted nominal interest | 3.30% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | N/A |
| Is rate fixed for entire loan term | N/A |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Key Statistics | |
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| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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