2. FUNDAMIC
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  2. SMILE
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Institution

FUNDACION DE AYUDA MICROEMPRESARIAL Av. 12 de Octubre N 18-42 y Queseras del MedioQuito, Pichincha
Data approved: 2010-11-08
Data version: 1
Age of data: 164 months

Institution

S.M.I.L.E. Microfinance Limited 4, Dr.Natesan RoadAshok NagarChennai, Tamilnadu600083
Data approved: 2013-05-21
Data version: 1
Age of data: 133 months

Product

CREDITO GRUPOS SOLIDARIOS Product 1 of 2 « Prev | Next »

Product

Micro Loan (IGP) Product 1 of 1 « Prev | Next »

Product Summary

Number borrowers1,174
Loan Amount (range)USD 300 - 2,000
Loan Term (range)3 - 18
Other Services (text summary)Group Mtgs, Credit Ins, Tech Asst Visits, Business Training
Annual Interest & Method23.9% annual, Decl Bal
Fees3.00% upfront
InsuranceNone
TaxNone
Comp Dep7.0% upfront 7.00% ongoing
Range of pricing 
Interest Price ComponentN/A
Fee Component22.4% - 23.6% (Int+Fee)
Insurance Component7.2% - 11.0%
Tax Component Range0
Full APR (int fee ins tax dep)38.4% - 39.6%
Transparency Index (min/max)35 - 62
Transparency Index (average)61

Product Summary

360,271
INR 5,000 - 30,000
6 - 24
Group Mtgs, Credit Ins
26.0% annual, Decl Bal
0.89% upfront
60.00-224.00 upfront
12.36% fees
N/A
 
25.2% - 26.0%
1.4% - 1.9%
1.3% - 2.8%
0.2% - 0.3%
28.7% - 30.9%
84 - 91
88

Product Details

Key Statistics
Outstanding portfolio (USD)USD 345,798
Portfolio (USD)USD 345,798
Active Clients with Loans1,174
Approximate % Female Clients60% - 80%
Approximate % Urban Clients0% - 20%
Methodology
Individual
Solidarity groupx
Village banking
Self help group
Other
Description
Microcrédito para grupos desde 4 a 14 personas con negocio, las garantías son solidarias y deben conoceerse y vivir a cerca una de la otra.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
OtherCapital de Trabajo
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visitsx
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 institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (INR)INR 3,017,141,968
Portfolio (USD)USD 56,927,206.94
Active Clients with Loans360,271
Approximate % Female Clients100%
Approximate % Urban Clients40% - 60%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
These loans are provided to the poor women for the following Income Generation Programmes (IGP) Small Business Ventures like Tea Shops, Snacks Shops, Wet Grinding, Tailoring etc. Agriculture and Allied Activities etc.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetingsx
Credit insurancex
Workplace visits
Business training
Other training
Other
Other (2)
No other services
Eligibility
Men
Womenx
Must run a business
Must own a home or land
Must be a salaried worker
Must be specific age groupx
Household income <60,000 INRx
Household income <120,000 INRx
Must live in rural areax
Must lives in urban areax
Other
Other (2)
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution2
# Regions for this product2
Regions ActiveTamil Nadu, Puducherry

Loan Conditions

Loan Amount
CurrencyUSD
Minimum loan sizeUSD 300
Maximum loan size2,000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term18.0 months
Approx average6.5 months
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Loan Conditions

Loan Amount
CurrencyINR
Minimum loan sizeINR 5,000
Maximum loan size30,000
Distribution at Disbursement (Est.)
Loans less than INR 5,0000
INR 5,000-15,00050%
INR 15,000-25,00040%
INR 25,000-35,00010%
INR 35,000-45,0000
Greater than INR 45,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term24.0 months
Approx average12.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months5%
Between 13 and 18 months80%
Longer than 18 months15%
Grace Period
Grace period usage100%
Average grace periodDK
Repayment Frequency
Daily
Weeklyx
Every 2 weeksx
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 interest23.85%
Highest quoted nominal interest23.85%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionSeguro de Desgravamen
% of loan amount - min3.00%
% of loan amount - max3.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
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 forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?
Do borrowers control deposit in their group?Yes
Deposit BEFORE or AT Disbursement
% loan amount deposited7.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited7.00%
or, Fixed-amount deposited0
Conditions on access to depositFinal Pmt
Interest Paid on Deposit
Minimum interest rate paid2.50%
Maximum interest rate paid2.50%
Interest payment frequencyEnd Term
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest26.00%
Highest quoted nominal interest26.00%
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min0.89%
% of loan amount - max0.89%
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
Ins 1
DescriptionGTLI
% of loan amount - min0
% of loan amount - max0
OR, Fixed amount - min60
Fixed amount - max224
Reason for variationRs. 60 for 1 year credit and Rs. 224 for 2 year product
Appears on Repayment Sched?Yes
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?Yes
Percentage of fees12.4%
All or some fees taxedSome

Full Pricing Data

CREDITO GRUPOS SOLIDARIOS samples
Sample 1Sample 2
Loan AmountUSD 412USD 927
Loan Cycle (1, 2, 3, etc)Not KnownNot Known
Disbursement Date2010-05-182010-05-19
Loan Term (Months)6.0 months8.0 months
Grace Period (Months)0.0 months0.0 months
Total Cost of CreditNot KnownNot Known
True Price by Comp   
Interest and Fee Component22.4%23.6%
Insurance Component11.0%8.7%
Tax Component0.0%0.0%
Deposit Component6.2%6.2%
Full APR (int fee ins tax dep)39.6%38.4%
Transparency Index6062
    
Original Repayment SchedulePDFPDF
MFT Pricing CalculationPDFPDF

Full Pricing Data

Micro Loan (IGP) samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountINR 5,000INR 10,000INR 20,000INR 25,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2013-03-282013-03-012013-03-012013-03-01
Loan Term (Months)12.0 months12.0 months24.0 months24.0 months
Grace Period (Months)0.0 months0.2 months0.2 months0.1 months
Total Cost of CreditINR 746INR 1,426.99INR 4,065.98INR 4,873.98
True Price by Comp       
Interest price component26.0%25.2%25.4%25.6%
Fee Component1.9%1.9%1.4%1.5%
Insurance Component2.8%1.3%1.8%1.5%
Tax Component0.2%0.3%0.2%0.2%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)30.9%28.7%28.8%28.8%
MFIN MFI Earning (Annualised)27.9%27.1%26.8%27.1%
MFIN Cost to Borrower (Annualised)30.9%28.7%28.8%28.8%
Transparency Index84919090
MFIN Transparency Index100100100100
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
* The APR stated here is an MFTransparency term, definition and formula
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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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