2. FINCOOP
Please note that the information you are viewing is 136 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. FINCOOP
Please note that the information you are viewing is 136 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Finance Cooperative Limited ADL House, 3rd FloorCity CenterLilongwe, Central
Data approved: 2011-01-31
Data version: 1
Age of data: -   months 
Choose version

Institution

Finance Cooperative Limited ADL House, 3rd FloorCity CenterLilongwe, Central
Data approved: 2011-01-31
Data version: 1
Age of data: -   months 
Choose version

Product

Pompopompo (Emergency Loan) Product 4 of 5 « Prev | Next »

Product

Phindu (Group Business) Product 3 of 5 « Prev | Next »

Product Summary

Number borrowers665
Loan Amount (range)MWK 1,120 - 30,000
Loan Term (range)2 - 5
Other Services (text summary)
Annual Interest & Method36.00% annual, Flat
Fees
Insurance
Tax
Comp DepN/A
Range of pricing 
Interest Price ComponentN/A
Fee Component72.1% - 75.6% (Int+Fee)
Insurance Component5.2% - 72.1%
Tax Component Range-72.1% - 0
Full APR (int fee ins tax dep)85.6% - 89.8%
Transparency Index (min/max)40 - 50
Transparency Index (average)

Product Summary

4,984
MWK 10,000 - 250,000
3 - 12
30.00% annual, Flat
N/A
 
N/A
0 - 65.4% (Int+Fee)
5.2% - 72.1%
-72.1% - 0
67.1% - 75.8%
40 - 50

Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 12,317,681
Portfolio (USD)USD 82,118
Active Clients with Loans665
Approximate % Female Clients20% - 40%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This is a short-term loan to take care of emergencies.\r
Loan Purpose
Any purposex
Income generation
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 workerx
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 (MWK)MWK 92,382,611
Portfolio (USD)USD 615,884
Active Clients with Loans4,984
Approximate % Female Clients20% - 40%
Approximate % Urban Clients20% - 40%
Methodology
Individual
Solidarity group
Village bankingx
Self help group
Other
Description
This is a group business loan targeting small and medium entrepreneurs in both rural and urban areas.\r
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 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 workerx
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
CurrencyMWK
Minimum loan sizeMWK 1,120
Maximum loan size30,000
Loan Term and Grace Period
Shortest loan term2.0 months
Longest loan term5.0 months
Approx average4.0 months
Distribution at Disbursement (Est.)
Loans 3 months or lessN/A
Between 4 and 6 monthsN/A
Between 7 and 9 monthsN/A
Between 10 and 12 monthsN/A
Between 13 and 18 monthsN/A
Longer than 18 monthsN/A
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

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 10,000
Maximum loan size250,000
Loan Term and Grace Period
Shortest loan term3.0 months
Longest loan term12.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or lessN/A
Between 4 and 6 monthsN/A
Between 7 and 9 monthsN/A
Between 10 and 12 monthsN/A
Between 13 and 18 monthsN/A
Longer than 18 monthsN/A
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 interest36.00%
Highest quoted nominal interest36.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?N/A
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing fee
% 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
Ins 1
DescriptionInsurance premium
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?
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?No

Pricing Information

Interest
Lowest quoted nominal interest30.00%
Highest quoted nominal interest30.00%
Interest rate periodYearly
Interest Rate Calculation MethodFlat
Subsidized by funder request?N/A
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing fee
% 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
Ins 1
DescriptionInsurance premium
% of loan amount - min2.00%
% of loan amount - max2.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variation
Appears on Repayment Sched?
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?No

Full Pricing Data

Pompopompo (Emergency Loan) samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountMWK 10,000MWK 14,000MWK 30,000MWK 30,000
Loan Cycle (1, 2, 3, etc)1971
Disbursement Date2012-09-182012-04-132012-09-072012-08-08
Loan Term (Months)3.0 months3.0 months3.0 months3.0 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 Component72.1%72.2%72.2%75.6%
Insurance Component13.5%13.5%13.5%14.2%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)85.6%85.7%85.7%89.8%
Transparency Index42424240
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF

Full Pricing Data

Phindu (Group Business) samples
Sample 1Sample 2Sample 3Sample 4Sample 5
Loan AmountMWK 10,800MWK 30,000MWK 57,000MWK 128,500MWK 228,900
Loan Cycle (1, 2, 3, etc)33555
Disbursement Date2013-01-072013-01-072012-10-232012-10-232012-10-23
Loan Term (Months)4.0 months5.0 months6.0 months10.0 months6.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot KnownNot Known
True Price by Comp         
Interest and Fee Component65.0%65.4%64.2%61.9%0.0%
Insurance Component10.8%9.2%7.9%5.2%72.1%
Tax Component0.0%0.0%0.0%0.0%-72.1%
Deposit Component0.0%0.0%0.0%0.0%72.1%
Full APR (int fee ins tax dep)75.8%74.6%72.1%67.1%72.1%
Transparency Index4040424542
          
Original Repayment SchedulePDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDF
Pompopompo (Emergency Loan) Price Graphs


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Phindu (Group Business) 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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