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Institution

Finance Trust For The Self Employed Private Bag A232Lilongwe, Central Region
Data approved: 2013-01-08
Data version: 2
Age of data: 113 months
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Institution

Banco Solidario S.A Av. Amazonas 3887 y CoreaQuito, Pichincha28034
Data approved: 2011-11-01
Data version: 1
Age of data: 140 months

Product

Business Loan III (Individual) Product 5 of 5 « Prev | Next »

Product

Microempresa Product 1 of 1 « Prev | Next »

Product Summary

Number borrowers54
Loan Amount (range)MWK 5,000 - 2,000,000
Loan Term (range)4 - 12
Other Services (text summary)Credit Educ, Group Mtgs
Annual Interest & Method42.00% annual, Flat
Fees2 fees
InsuranceNone
TaxNone
Comp Dep10.00% upfront
Range of pricing 
Interest Price Component43.6% - 69.1%
Fee Component5.6% - 36.4%
Insurance Component0
Tax Component Range0
Full APR (int fee ins tax dep)91.0% - 93.2%
Transparency Index (min/max)34 - 86
Transparency Index (average)45

Product Summary

79,773
USD 1,000 - 20,000
6 - 49.7
Credit Ins
19.0%-27.0% annual, Decl Bal
None
2.88%-2.94% upfront
None
N/A
 
N/A
24.2% - 27.0% (Int+Fee)
1.9% - 3.5%
0
26.2% - 30.5%
62 - 73
66

Product Details

Key Statistics
Outstanding portfolio (MWK)MWK 12,059,498.45
Portfolio (USD)USD 30,921.79
Active Clients with Loans54
Approximate % Female Clients60% - 80%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
This is a loan product offered to individual clients who have graduated from products 1 and 2 or business owners in urban areas around the WV ADPs for business purposes.
Loan Purpose
Any purpose
Income generationx
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
OtherNot unacceptable businesses e.g beer brewing, tobacco, charcoal.
Other (2)
Included Services
Credit educationx
Group meetingsx
Credit insurance
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 institution10
# Regions for this product2
Regions ActiveLilongwe, Blantyre

Product Details

Key Statistics
Outstanding portfolio (USD)USD 221,716,874
Portfolio (USD)USD 221,716,874
Active Clients with Loans79,773
Approximate % Female Clients40% - 60%
Approximate % Urban Clients60% - 80%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Crédito destinado a satisfacer necesidades de financiamiento a clientes que poseen una microempresa; cuya actividad económica sea de comercio, producción (agropecuarias y no agropecuarias), o servicios
Loan Purpose
Any purposex
Income generation
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)
Included Services
Credit education
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 product13
Regions ActiveAzuay, Chimborazo, Cotopaxi, Esmeraldas, GuayasImbabura, Loja, Los Ríos, Manabí, Pichincha, Santa ElenaSanto Domingo de los Tsáchilas, Tungurahua

Loan Conditions

Loan Amount
CurrencyMWK
Minimum loan sizeMWK 5,000
Maximum loan size2,000,000
Distribution at Disbursement (Est.)
Loans less than MWK 50,0000
MWK 50,000-150,0005%
MWK 150,000-250,00015%
MWK 250,000-350,00040%
MWK 350,000-450,00040%
Greater than MWK 450,00040%
Loan Term and Grace Period
Shortest loan term4.0 months
Longest loan term12.0 months
Approx average6.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months70%
Between 7 and 9 months20%
Between 10 and 12 months10%
Between 13 and 18 months0
Longer than 18 months0
Grace Period
Grace period usage100%
Average grace period10 days
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
CurrencyUSD
Minimum loan sizeUSD 1,000
Maximum loan size20,000
Distribution at Disbursement (Est.)
Loans less than USD 1,50050%
USD 1,500-5,00040%
USD 5,000-10,00010%
USD 10,000-15,0000
USD 15,000-18,0000
Greater than USD 18,0000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term49.7 months
Approx average24.3 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months0
Between 7 and 9 months0
Between 10 and 12 months0
Between 13 and 18 months40%
Longer than 18 months60%
Grace Period
Grace period usage90%
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

Pricing Information

Interest
Lowest quoted nominal interest3.50%
Highest quoted nominal interest3.50%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionApplication FeeRegistration Fee
% of loan amount - min3.50%0
% of loan amount - max3.50%0
OR, Fixed amount - min0500
Fixed amount - max0500
Reason for variationN/AOnly for 1st-cycle loans
Appears on Repayment Sched?NoNo
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
This product has no upfront insurance fees
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required forAll
CriteriaN/A
Is deposit indicated on the repayment schedule?No
Do borrowers control deposit in their group?No
Deposit BEFORE or AT Disbursement
% loan amount deposited10.00%
or, Fixed-amount deposited0
Deposits DURING period payments
% loan amount deposited10.00%
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid3.00%
Maximum interest rate paid3.00%
Interest payment frequencyQuarterly
Taxes
Are taxes charged on this product?No

Pricing Information

Interest
Lowest quoted nominal interest19.03%
Highest quoted nominal interest27.02%
Reason(s) why interest rate variesTime as Client, Loan Size, Client Risk, Plazo de Otorgamiento en función de la Tasa Efectiva
Interest rate periodYearly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?
Is rate fixed for entire loan termYes
Upfront Fees
This product has no upfront fees
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionVida y Desgravamen
% of loan amount - min2.88%
% of loan amount - max2.94%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
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?No

Full Pricing Data

Business Loan III (Individual) samples
Sample 4Sample 5Sample 6
Loan AmountMWK 100,000MWK 300,000MWK 500,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot Known
Disbursement Date2012-11-232012-07-302013-01-25
Loan Term (Months)6.0 months6.0 months8.0 months
Grace Period (Months)0.4 months0.4 months0.3 months
Total Cost of CreditMWK 25,000MWK 74,000MWK 158,000
True Price by Comp     
Interest price component61.1%60.6%64.0%
Fee Component13.4%12.2%9.9%
Insurance Component0.0%0.0%0.0%
Tax Component0.0%0.0%0.0%
Deposit Component18.7%18.2%19.0%
Full APR (int fee ins tax dep)93.2%91.0%92.9%
Transparency Index454645
      
Original Repayment SchedulePDFPDFPDF
MFT Pricing CalculationPDFPDFPDF

Full Pricing Data

Microempresa samples
Sample 1Sample 2Sample 3Sample 4Sample 5Sample 6
Loan AmountUSD 1,008.96USD 1,042.55USD 2,063.18USD 2,110.32USD 4,183.22USD 4,210.42
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot KnownNot KnownNot Known
Disbursement Date2010-08-272011-08-042010-09-092011-08-202010-07-142011-06-30
Loan Term (Months)18.7 months12.0 months24.0 months18.0 months36.0 months18.0 months
Grace Period (Months)0.0 months0.0 months0.0 months0.0 months0.0 months0.0 months
Total Cost of CreditNot KnownNot KnownNot KnownNot KnownNot KnownNot Known
True Price by Comp           
Interest and Fee Component27.0%26.9%26.7%26.8%24.2%24.2%
Insurance Component3.5%3.1%2.8%3.1%1.9%3.1%
Tax Component0.0%0.0%0.0%0.0%0.0%0.0%
Deposit Component0.0%0.0%0.0%0.0%0.0%0.0%
Full APR (int fee ins tax dep)30.5%30.0%29.5%30.0%26.2%27.3%
Transparency Index626364647370
            
Original Repayment SchedulePDFPDFPDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDFPDFPDF
Business Loan III (Individual) Price Graphs


Microempresa 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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