| Institution Type | Non-Governmental Organization |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 2003 |
| Head of Institution | Siku Nkhoma |
| Regions active | Dedza, Dowa, Kasungu, Lilongwe, Ntcheu, Salima, ChitipaKaronga, Mzimba, Nkhata Bay, Rumphi, Balaka, Blantyre, Chikwawa, Chiradzulu, Machinga, Mulanje |
| # Branches | 1 |
| Total Portfolio (nat'l) | MWK 250,550,466.50 |
| Total Portfolio (USD) | USD 642,437.09 |
| Active clients with loans | 2,351 |
| Approximate % female clients | 80% - 100% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | Slum Dwellers International, MAMN, Malawi Homeless People's Federation |
| Funders | Slum Dwellers International, Homeless International, African Development Bank, WASTE |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | MWK 10,000 - 10,000 | 6 | 80% - 100% | 80% - 100% | Business, Can only be used for working capital | Women, Men, Must be a member of the Malawi Homeless People's Federation. | Business Training | |||||||
| Home Improvement Loan | MWK 20,000 - 20,000 | 24 | 80% - 100% | 80% - 100% | Housing | Women, Men, Must be a member of the Malawi Homeless People's Federation | ||||||||
| Sanitation Loan | MWK 40,000 - 100,000 | 24 | 80% - 100% | 80% - 100% | Sanitation | Women, Men, Residents from the peri urban areas | ||||||||
| Water Loan | MWK 18,000 - 120,000 | 24 | 60% - 80% | 80% - 100% | water supply | Women, Men, Residents from the peri urban areas |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Business Loan | 24.00% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.00% upfront | 16.8% | 16.8% | 100 | ||||||||
| Home Improvement Loan | 12.00% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.00% upfront | 10.9% | 10.9% | 100 | ||||||||
| Sanitation Loan | 12.00% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.00% upfront | 10.9% | 10.9% | 100 | ||||||||
| Water Loan | 12.00% annual, Decl Bal | 0 Fees | 0 Ins | None | 10.00% upfront | 10.9% - 11% | 10.9% - 11% | 100 |
| Outstanding portfolio (UGX) | UGX 8,100,000,000 |
| Portfolio (USD) | USD 3,681,818 |
| Active Clients with Loans | 17,409 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 60% - 80% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | Consumer Financial Education |
| Other (2) | |
| No other services |
| 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 | |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | UGX |
| Minimum loan size | UGX 50,000 |
| Maximum loan size | 3,000,000 |
| Shortest loan term | 4.0 months |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | N/A |
| Between 4 and 6 months | N/A |
| Between 7 and 9 months | N/A |
| Between 10 and 12 months | N/A |
| Between 13 and 18 months | N/A |
| Longer than 18 months | N/A |
| Grace period usage | 90% |
| Average grace period | 0.5 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 3.00% |
| Highest quoted nominal interest | 3.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | N/A |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Loan Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Insurance |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | |
| Appears on Repayment Sched? |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | |
| Do borrowers control deposit in their group? |
| % loan amount deposited | 15.00% - NA |
| or, Fixed-amount deposited | 0 - NA |
| % loan amount deposited | 0 - NA |
| or, Fixed-amount deposited | 0 - NA |
| Conditions on access to deposit | Final Pmt |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | UGX 300,000 | UGX 800,000 | UGX 1,500,000 | UGX 3,000,000 | |||
| Loan Cycle (1, 2, 3, etc) | 0 | 0 | 0 | 0 | |||
| Disbursement Date | 2010-12-06 | 2010-11-30 | 2010-12-15 | 2010-11-18 | |||
| Loan Term (Months) | 5.6 months | 3.3 months | 11.7 months | 11.7 months | |||
| Grace Period (Months) | 1.0 month | 1.0 month | 0.0 months | 0.0 months | |||
| Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | |||
| True Price by Comp | |||||||
| Interest and Fee Component | 69.9% | 72.5% | 69.1% | 69.1% | |||
| Insurance Component | 4.2% | 6.5% | 2.4% | 2.4% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 24.6% | 26.1% | 22.5% | 22.5% | |||
| Full APR (int fee ins tax dep) | 98.7% | 105.1% | 94.0% | 94.0% | |||
| Transparency Index | 36 | 34 | 38 | 38 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Key Statistics | |
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| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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