Please note that the information you are viewing is 150 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Wasasa MFI AlemgenaOromiaP O Box 1192
Data approved: 2011-12-23
Data version: 1
Age of data: 150 months

Institution Details

Institution TypeNon Bank Financial Institution
Is this institution regulated?Yes
Website addressN/A
Year established2000
Head of InstitutionAmsalu Alemayehu Gutema
Regions active
# Branches24

Total Portfolio (nat'l)ETB 113,970,892
Total Portfolio (USD)USD 6,194,070.22
Active clients with loans53,981
Approximate % female clients40% - 60%
Approximate % urban clients0% - 20%
Network affiliationsAEMFI, MAIN, PAMIGA
FundersTerrafina, Cordaid, Ethio Italian Rural Development Cooperation, World Solidarity Movement

Loan Products » Summary

4,002 Borrowers
USD 493,914.29 Portfolio
Active Product
452 Borrowers
USD 72,351.36 Portfolio
Active Product
393 Borrowers
USD 326,133.70 Portfolio
Active Product
44,503 Borrowers
USD 4,906,114.40 Portfolio
Active Product

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Employee Loan ETB 1,000 - 10,000 4 - 24 0% - 20% 80% - 100% Housing, Consumer, Education Women, Men, Salaried worker Credit Educ
Enterprise Loan ETB 2,000 - 10,000 4 - 12 20% - 40% 80% - 100% Business Women, Men, Have business, Must be urban or semi-urban, not for rural clients. Credit Educ, Business Training
Individual Loan ETB 5,000 - 150,000 4 - 24 40% - 60% 80% - 100% Business Women, Men, Have business Credit Educ, Tech Asst Visits, Business Training
Large Group Loan ETB 100 - 5,000 4 - 12 40% - 60% 0% - 20% Any Purpose Women, Men Credit Educ, Other Training, Agricultural Training

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Employee Loan 15.0% annual, Flat 0 Fees 1 Ins None 10.0%-15.0% upfront 26.6% 31.9% - 33.6% 45
Enterprise Loan 18.0% annual, Flat 0 Fees 1 Ins None 10.0% upfront 32.1% - 33.8% 40.2% - 43.9% 43
Individual Loan 11.0%-15.0% annual, Flat 0 Fees 0 Ins None N/A 21.6% - 26.5% 21.6% - 26.5% 46
Large Group Loan 18.0% annual, Flat 1 Fee 1 Ins None 10.0%-15.0% upfront 23.6% - 23.8% 27.4% - 27.7% 65
Institution Price Graph
Please note that the information you are viewing is 150 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Meklit MFI Ayer TenaAddis AbabaPO Box 27634
Data approved: 2011-12-23
Data version: 1
Age of data: 150 months

Product

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

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 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 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

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
Business Loan - Individual Price Graphs


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% Products with one or more insurances
% Products with compulsory deposits
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