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Institution
Data approved: 2011-12-07
Data version: 1
Age of data: - months
Key Statistics
| Outstanding portfolio (GHS) | GHS 231,433 |
| Portfolio (USD) | USD 154,289 |
| Active Clients with Loans | 1,747 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 0% - 20% |
Methodology
| Individual | |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | |
Description
THIS IS LOANS GIVEN TO SMALL AND MEDIUM HOLDING FARMERS FOR THE CULTIVATION AND MANAGEMENT OF AGRO AND LIVESTOCK FARMING.
Loan Purpose
| Any purpose | |
| Income generation | x |
| 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 | MUST BE RESIDENT IN THE COMMUNITY WE OPERATE FOR NOT LESS THAN A YEAR |
| Other (2) | FARMING ACTIVITIES SHOULD NOT BE DETRIMENTAL TO THE ENVIRONMENT AND HUMAN HEALTH |
| 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 | x |
| Other | MUST BE RESIDENT IN THE COMMUNITY WE OPERATE FOR NOT LESS THAN A YEAR |
| Other (2) | FARMING ACTIVITIES SHOULD NOT BE DETRIMENTAL TO THE ENVIRONMENT AND HUMAN HEALTH |
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 | GHS |
| Minimum loan size | GHS 200 |
| Maximum loan size | 7,000 |
Loan Term and Grace Period
| Shortest loan term | 6.0 months |
| Longest loan term | 12.0 months |
| Approx average | 8.0 months |
Distribution at Disbursement (Est.)
| 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
| Grace period usage | 100% |
| Average grace period | 5.0 months |
Repayment Frequency
| Daily | |
| Weekly | |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 3.00% |
| Highest quoted nominal interest | 4.00% |
| Interest rate period | 4 Weeks |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | N/A |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 | | Fee 2 |
|---|
| Description | LOAN PROCESSING FEE | | APPLICATION AND PASS BOOK FEES |
| % of loan amount - min | 3.00% | | 0 |
| % of loan amount - max | 3.00% | | 0 |
| OR, Fixed amount - min | 0 | | 2 |
| Fixed amount - max | 0 | | 2 |
| Reason for variation | | | |
| Appears on Repayment Sched? | No | | No |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? | Yes |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 15.00% - N/A |
| or, Fixed-amount deposited | 0 - N/A |
Deposits DURING period payments
| % loan amount deposited | 10.00% - N/A |
| or, Fixed-amount deposited | 0 - N/A |
| Conditions on access to deposit | |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
CLIENTS ARE MADE TO DEPOSIT INTO THEIR OWN SAVINGS ACCOUNT WHICH IS HELD IN A COMMERCIAL BANK, BUT NOT WITH THE INSTITUTION. HOWEVER THEY CANNOT ACCESS THIS ACCOUNT WHILE REPAYMENT IS ONGOING TILL LOAN IS FULLY PAID OR CYCLE IS ENDED. Client continue to save up to 1% of the principal during repayments
Full Pricing Data
Farmer Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | GHS 760 | | GHS 1,600 | | GHS 2,300 | | GHS 5,600 |
| Loan Cycle (1, 2, 3, etc) | 4 | | 4 | | 3 | | 4 |
| Disbursement Date | 2012-09-28 | | 2012-08-27 | | 2012-06-08 | | 2012-09-28 |
| Loan Term (Months) | 5.6 months | | 5.6 months | | 7.5 months | | 5.6 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 | 46.5% | | 47.2% | | 50.6% | | 45.2% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 9.5% | | 8.7% | | 9.6% | | 9.2% |
| Full APR (int fee ins tax dep) | 55.9% | | 55.9% | | 60.1% | | 54.3% |
| Transparency Index | 70 | | 70 | | 65 | | 72 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
