Please note that the information you are viewing is 127 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
Please note that the information you are viewing is 127 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Omo Microfinance Head OfficeHawassaPO Box 353
Data approved: 2011-12-23
Data version: 1
Age of data: 127 months

Institution

Meklit MFI Ayer TenaAddis AbabaPO Box 27634
Data approved: 2011-12-23
Data version: 1
Age of data: 127 months

Product

Rural Petty Trade Loan Product 2 of 4 « Prev | Next »

Product

Business Loan - Individual Product 3 of 4 « Prev | Next »

Product Summary

Number borrowers4,000
Loan Amount (range)ETB 2,000 - 50,000
Loan Term (range)12 - 36
Other Services (text summary)Credit Educ, Group Mtgs, Credit Ins
Annual Interest & Method15.0% annual, Flat
Fees2.00% upfront
Insurance1.00% upfront
TaxNone
Comp Dep5.0%-10.0% upfront 6.00 ongoing
Range of pricing 
Interest Price ComponentN/A
Fee Component11.3% - 22.5% (Int+Fee)
Insurance Component1.0% - 2.1%
Tax Component Range0
Full APR (int fee ins tax dep)14.8% - 29.0%
Transparency Index (min/max)50 - 102
Transparency Index (average)65

Product Summary

616
ETB 8,000 - 50,000
12 - 24
Credit Educ, Credit Ins
22.0% annual, Flat
2.00% upfront
upfront
None
5.0%-15.0% upfront 5.00%-15.00% ongoing
 
N/A
38.1% - 40.0% (Int+Fee)
1.1% - 5.4%
0
43.6% - 46.6%
32 - 50
49

Product Details

Key Statistics
Outstanding portfolio (ETB)ETB 7,021,200
Portfolio (USD)USD 381,586.96
Active Clients with Loans4,000
Approximate % Female Clients20% - 40%
Approximate % Urban Clients0% - 20%
Methodology
Individualx
Solidarity groupx
Village banking
Self help group
Other
Description
This is a loan for petty trade in rural areas.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurancex
Workplace visits
Business training
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 institutionN/A
# Regions for this productN/A
Regions Active

Product Details

Key Statistics
Outstanding portfolio (ETB)ETB 4,312,000
Portfolio (USD)USD 234,347.83
Active Clients with Loans616
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This is a loan for individuals who own businesses. The loan must be collateralised and repaid monthly. The interest rate is 22%, and loan term is 12-24 months.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit educationx
Group meetings
Credit insurancex
Workplace visits
Business training
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

Loan Conditions

Loan Amount
CurrencyETB
Minimum loan sizeETB 2,000
Maximum loan size50,000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term36.0 months
Approx average12.0 months
Grace Period
Grace period usage50%
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

Loan Conditions

Loan Amount
CurrencyETB
Minimum loan sizeETB 8,000
Maximum loan size50,000
Loan Term and Grace Period
Shortest loan term12.0 months
Longest loan term24.0 months
Approx average12.0 months
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 payment
Irregular payments

Pricing Information

Interest
Lowest quoted nominal interest15.00%
Highest quoted nominal interest15.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionCommission Fee
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionLoan Insurance
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
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?
Deposit BEFORE or AT Disbursement
% loan amount deposited5.00% - 10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited0
or, Fixed-amount depositedETB 6
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
Compulsory savings is 1st cycle 10%, 2nd cycle 8%, 3rd cycle 5%. Savings interest is compounded semi-annually.

Pricing Information

Interest
Lowest quoted nominal interest22.00%
Highest quoted nominal interest22.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionService Charge
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?Yes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionLoan Insurance
% of loan amount - min0
% of loan amount - max1.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation<1000 ETB=1%,<2000 birr=1.2%,<3000 ETB=1.3%, <4000ETB=1.4%, <5000 ETB=1.5%. Over 5000 ETB=0
Appears on Repayment Sched?Yes
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?Yes
Do borrowers control deposit in their group?
Deposit BEFORE or AT Disbursement
% loan amount deposited5.00% - 15.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited5.00% - 15.00%
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid5.00%
Maximum interest rate paid5.00%
Interest payment frequencyAnnually
Taxes
Are taxes charged on this product?No
Additional Comments
Compulsory savings: <5000 ETB = 15%, <10,000 ETB Loan = 10%, >1 10,000 ETB Loan = 5%. Client deposits monthly the same amount, e.g 15% upfront plus 15% over the term of the loan in monthly installments. Interest savings is compounded semi-annually.

Full Pricing Data

Rural Petty Trade Loan samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountETB 2,000ETB 3,000ETB 5,000ETB 7,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2011-03-172011-06-272011-06-242011-03-18
Loan Term (Months)12.0 months24.0 months12.0 months12.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot Known
True Price by Comp       
Interest and Fee Component21.4%11.3%21.2%22.5%
Insurance Component2.0%1.0%2.0%2.0%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component4.8%2.5%4.4%4.5%
Full APR (int fee ins tax dep)28.2%14.8%27.6%29.0%
Transparency Index531005452
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Business Loan - Individual samples
Sample 1Sample 2Sample 3
Loan AmountETB 10,000ETB 40,000ETB 50,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2011-06-252011-10-252011-08-15
Loan Term (Months)24.0 months36.0 months36.0 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 Component40.0%38.1%38.1%
Insurance Component1.7%1.3%1.3%
Tax Component0.0%0.0%0.0%
Deposit Component4.9%4.2%4.2%
Full APR (int fee ins tax dep)46.6%43.6%43.6%
Transparency Index475050
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF
Rural Petty Trade Loan Price Graphs


Business Loan - Individual Price Graphs


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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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By Country

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