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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: 163 months

Institution Details

Institution TypeNon-Governmental Organization
Is this institution regulated?No
Website addresshttp://www.fundamic.org/
Year established1995
Head of InstitutionSalomón Caicedo
Regions active
# Branches2

Total Portfolio (nat'l)USD 1,506,920
Total Portfolio (USD)USD 1,506,920
Active clients with loans2,270
Approximate % female clients60% - 80%
Approximate % urban clients0% - 20%
Network affiliationsRed Financiera Rural, Red Internacional de Instituciones Financieras Alternativas INAFI, Consorcio Etimos
FundersETIMOS ITALIA, CRESUD ITALIA, OIKOCREDIT HOLANDA, FINANZAS POPULARES ECUADOR

Loan Products » Summary

1,174 Borrowers
USD 345,798 Portfolio
Active Product
860 Borrowers
USD 1,122,574 Portfolio
Active Product

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
CREDITO GRUPOS SOLIDARIOS USD 300 - 2,000 3 - 18 60% - 80% 0% - 20% Business, Capital de Trabajo Women, Men, Have business Group Mtgs, Credit Ins, Tech Asst Visits, Business Training
CREDITO INDIVIDUAL USD 600 - 3,000 3 - 24 60% - 80% 0% - 20% Business, Capital de Trabajo Women, Men, Have business Group Mtgs, Credit Ins, Tech Asst Visits, Business Training

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
CREDITO GRUPOS SOLIDARIOS 23.9% annual, Decl Bal 1 Fee 0 Ins None 7.0% upfront 7.00% ongoing 22.4% - 23.6% 38.4% - 39.6% 61
CREDITO INDIVIDUAL 13.0%-29.1% annual, Decl Bal 1 Fee 0 Ins None N/A 29.5% 36.7% - 37.4% 35
Institution Price Graph

Institution

Urwego Opportunity Bank Plot 1230 NyarugengeAvenue de la PaixKigaliPO Box 748
Data approved: 1900-01-00
Data version: 3
Age of data: -   months 

Product

Micro Individual/Business Loan Product 3 of 6 « Prev | Next »

Product Details

Key Statistics
Outstanding portfolio (RWF)RWF 3,170,097,119
Portfolio (USD)USD 4,953,276.75
Active Clients with Loans1,331
Approximate % Female Clients20% - 40%
Approximate % Urban Clients20% - 40%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This product is for small entrepreneurs as well as graduated clients from Community Banking groups and Solidarity Groups; a client must have a business.
Loan Purpose
Any purpose
Income generationx
Mortgage/housingx
Consumer loanx
Agriculturex
Educationx
Other household finance
Other
Other (2)
Included Services
Credit education
Group meetings
Credit insurance
Workplace visits
Business trainingx
Other training
Other
Other (2)
No other services
Eligibility
Menx
Womenx
Must run a business
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 institution30
# Regions for this product15
Regions ActiveBugesera, Gasabo, Gicumbi, Huye, Kicukiro, Kirehe, Muhanga, Musanze, Ngoma, Nyabihu, Nyanza, Nyarugenge, Rubavu, Ruhango, Rwamagana

Loan Conditions

Loan Amount
CurrencyRWF
Minimum loan sizeRWF 250,000
Maximum loan size60,000,000
Distribution at Disbursement (Est.)
Loans less than RWF 500,0005%
RWF 500,000-1,500,00015%
RWF 1,500,000-2,500,00010%
RWF 2,500,000-3,500,00010%
RWF 3,500,000-4,500,0005%
Greater than RWF 4,500,0005%
Loan Term and Grace Period
Shortest loan term8.0 months
Longest loan term60.0 months
Approx average13.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months30%
Between 10 and 12 months10%
Between 13 and 18 months10%
Longer than 18 months50%
Grace Period
Grace period usage0
Average grace period0
Repayment Frequency
Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthlyx
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end paymentx
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest10.00%
Highest quoted nominal interest20.00%
Reason(s) why interest rate variesLoan Purpose
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionLoan Processing Fee
% of loan amount - min1.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationExcluding VAT
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionLife and Fire Insurance Fees
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationLoans <10M pay 1%, loans >10M pay matrix fee
Appears on Repayment Sched?No
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 fees18%
All or some fees taxedAll
Additional Comments
Life and Fire insurance fees are paid to Insurance Companies.

Full Pricing Data

Micro Individual/Business Loan samples
Sample 1Sample 2
Loan AmountRWF 5,000,000RWF 15,000,000
Loan Cycle (1, 2, 3, etc)Not KnownNot Known
Disbursement Date2014-08-042014-08-28
Loan Term (Months)24.0 months37.0 months
Grace Period (Months)0.0 months0.0 months
Total Cost of CreditRWF 1,343,277RWF 5,535,081
True Price by Comp   
Interest price component20.8%19.8%
Fee Component2.1%1.5%
Insurance Component1.1%0.4%
Tax Component0.5%0.4%
Deposit Component0.0%0.0%
Full APR (int fee ins tax dep)24.5%22.1%
Transparency Index4145
    
Original Repayment SchedulePDFPDF
MFT Pricing CalculationPDFPDF
Micro Individual/Business Loan Price Graphs


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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
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