Equity Bank - Biashara Imara Loan - MFTransparency.org Truth In Lending Tables

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Institution

Equity Bank P.O. Box 75104-00200Hospital Road, Equity Centre, 9th FloorNairobi

Data approved: 2013-09-23

Data version: 2

Age of data: 135 months

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Product

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Product Details

Key Statistics

Outstanding portfolio (KES)	KES 2,752,990,159
Portfolio (USD)	USD 33,248,673.42
Active Clients with Loans	33,227
Approximate % Female Clients	20% - 40%
Approximate % Urban Clients	20% - 40%

Methodology

Individual	x
Solidarity group
Village banking
Self help group
Other

Description

Growing together in trust. This is a loan facility designed for microenterprises/small-scale business clients who lack conventional collateral to secure loans.

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	x
Workplace visits	x
Business training	x
Other training
Other
Other (2)
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
Other	Operated the business for over a year
Other (2)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	8
# Regions for this product	8
Regions Active	Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western

Loan Conditions

Loan Amount

Currency	KES
Minimum loan size	KES 5,000
Maximum loan size	500,000

Distribution at Disbursement (Est.)

Loans less than KES 50,000	15%
KES 50,000-150,000	30%
KES 150,000-250,000	20%
KES 250,000-350,000	20%
KES 350,000-450,000	10%
Greater than KES 450,000	10%

Loan Term and Grace Period

Shortest loan term	1.0 month
Longest loan term	18.0 months
Approx average	12.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	0
Between 7 and 9 months	20%
Between 10 and 12 months	50%
Between 13 and 18 months	30%
Longer than 18 months	0

Grace Period

Grace period usage	0
Average grace period	0

Repayment Frequency

Daily
Weekly
Every 2 weeks
Every 4 weeks
Monthly	x
Every 2 months
Quarterly
Every 6 months
Every 12 months
Single end payment
Irregular payments

Pricing Information

Interest

Lowest quoted nominal interest	1.67%
Highest quoted nominal interest	1.67%
Interest rate period	Monthly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	Fee 1
Description	LACE (Loan Application & Credit Evaluation) Fee
% of loan amount - min	2.00%
% of loan amount - max	3.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	3% for 1st cycle, 2% for multiple cycle loans
Appears on Repayment Sched?	No

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

	Ins 1
Description	Annual Insurance Fee
% of loan amount - min	0.63%
% of loan amount - max	0.63%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	0.625% per annum.
Appears on Repayment Sched?	No

Ongoing Insurance Fees

This product has no ongoing insurance fees

Compulsory Deposit

Required for	Never
Criteria	N/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 deposited	N/A
or, Fixed-amount deposited	N/A

Deposits DURING period payments

% loan amount deposited	N/A
or, Fixed-amount deposited	N/A
Conditions on access to deposit	N/A

Interest Paid on Deposit

Minimum interest rate paid	N/A
Maximum interest rate paid	N/A
Interest payment frequency	N/A

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Biashara Imara Loan samples

	Sample 1	Sample 2	Sample 3	Sample 4	Sample 5	Sample 6
Loan Amount	KES 9,999.95	KES 24,999.98	KES 49,999.93	KES 99,999.98	KES 299,999.99	KES 499,999.90
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2013-05-09	2013-05-27	2013-05-17	2013-05-10	2013-05-24	2013-05-03
Loan Term (Months)	12.0 months	6.0 months	12.0 months	6.0 months	15.0 months	15.0 months
Grace Period (Months)	-0.1 months	0.0 months	0.0 months	0.0 months	-0.1 months	0.1 months
Total Cost of Credit	KES 2,240.92	KES 3,379.33	KES 11,258.69	KES 12,624.96	KES 82,229.83	KES 138,124.95
True Price by Comp
Interest price component	34.9%	33.1%	34.6%	32.8%	34.9%	34.2%
Fee Component	4.0%	10.9%	4.0%	7.1%	3.3%	3.2%
Insurance Component	1.3%	2.3%	1.3%	2.2%	1.1%	1.1%
Tax Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Deposit Component	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Full APR (int fee ins tax dep)	40.2%	46.3%	39.9%	42.1%	39.3%	38.5%
Transparency Index	50	43	50	48	51	52

Original Repayment Schedule	PDF	PDF	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF	PDF	PDF

Biashara Imara Loan Price Graphs

Click to view Price Analysis Tool

Institution	# Borrowers	Portfolio (US$)	Products	Age of Data
AGFS	200	47,000	2	151
Ahantaman RB	23,800	9,896,000	4	133
APED	13,700	1,876,000	2	133
ASA Initiative	4,400	577,000	4	133
ASA-Ghana	71,600	18,385,000	2	133
ASPI	800	88,000	6	133
Atwima Kwanwoma	3,800	1,788,000	2	133
Baobab	5,100	967,000	2	133
BestFUND	13,000	4,172,000	3	133
Bonzali Rural	10,400	1,691,000	4	151
CashPhase	83	135,000	2	133
CASUD	1,100	524,000	1	133
CEDEF	500	54,000	4	133
CFF	100	13,000	1	133
CRAN	3,600	1,019,000	2	133
DQF	1,700	63,000	2	133
EASL	9,200	11,409,000	6	133
East Mamprusi	12,500	2,268,000	4	133
ELDA	0	0	0	133
EMPRETEC Ghana	200	56,000	2	133
FASL	13,500	14,047,000	8	133
Grameen Ghana	9,500	507,000	3	133
ID-Ghana	5,600	953,000	3	133
Innovative Finance	2,700	354,000	3	133
Kraban Support	7,700	781,000	5	151
KRB	4,000	6,350,000	3	133
Lower Pra RB	34,000	6,316,000	3	151
Maata-N-Tudu	12,000	941,000	4	133
Mail Finance	300	288,000	1	133
Markaz	0	0	0	133
Markaz Al Bishara	100	17,000	1	133
MicrofinPlus Gh	1,100	251,000	2	133
Nwabiagya RB	4,000	2,265,000	3	133
OISL	62,000	27,232,000	9	133
Pro Credit	0	0	0	133
Rich Step	100	101,000	1	133
SAT	147,600	29,359,000	4	133
Sekam Trust	600	137,000	2	133
Simli Pong	8,900	463,000	3	151
SS Ghana	200	35,000	1	133
TCCU	100	32,000	3	133
The Bridge	400	32,000	3	151
Union RB	3,800	2,361,000	4	133

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

	X Axis
	Greater than:
	Less or equal to:
N (# of Samples)
Total Borrrowers of Samples


Avg
Min
Max
Std Dev

By Inst Type


By Country

	X Axis
	Greater than:
	Less or equal to:
	From 0 to
	to
	to
	to ∞

Institution

Product

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Biashara Imara Loan samples

Biashara Imara Loan Price Graphs

Total Borrowers of Samples

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