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Institution
Data approved: 2011-12-18
Data version: 1
Age of data: - months
Key Statistics
Outstanding portfolio (TZS) | TZS 490,000,000 |
Portfolio (USD) | USD 326,667 |
Active Clients with Loans | 635 |
Approximate % Female Clients | 60% - 80% |
Approximate % Urban Clients | 60% - 80% |
Methodology
Individual | x |
Solidarity group | x |
Village banking | |
Self help group | |
Other | |
Description
Mkopo Vuka (Solidarity Group Loan) is Opportunity Tanzania's Small Business Loan for groups who have graduated from an entry-level loan and have a need for a larger loan for their business.
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 | |
Business training | |
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 | |
Other (2) | |
Portfolio Size by Product
Geographic Coverage
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active | |
Loan Conditions
Loan Amount
Currency | TZS |
Minimum loan size | TZS 250,000 |
Maximum loan size | 7,500,000 |
Loan Term and Grace Period
Shortest loan term | 6.0 months |
Longest loan term | 12.0 months |
Approx average | 6.5 months |
Distribution at Disbursement (Est.)
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
Grace period usage | 100% |
Average grace period | 0.7 months |
Repayment Frequency
Daily | |
Weekly | |
Every 2 weeks | x |
Every 4 weeks | |
Monthly | |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments | |
Pricing Information
Interest
Lowest quoted nominal interest | 2.00% |
Highest quoted nominal interest | 2.00% |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | N/A |
Is rate fixed for entire loan term | Yes |
Upfront Fees
| Fee 1 |
---|
Description | Loan Processing Fee |
% of loan amount - min | 1.50% |
% of loan amount - max | 1.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | |
Appears on Repayment Sched? | Yes |
Ongoing Fees
This product has no ongoing feesUpfront Insurance Fees
| Ins 1 |
---|
Description | Credit Life, Funeral, Property |
% 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? | Yes |
Ongoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? | Yes |
Deposit BEFORE or AT Disbursement
% loan amount deposited | 20.00% - N/A |
or, Fixed-amount deposited | 0 - N/A |
Deposits DURING period payments
% loan amount deposited | 0 - N/A |
or, Fixed-amount deposited | 0 - N/A |
Conditions on access to deposit | End Term |
Interest Paid on Deposit
Minimum interest rate paid | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Taxes
Are taxes charged on this product? | No |
Additional Comments
First Loan Cycle Security Deposit required is equal to 1% of the loan amount.
Full Pricing Data
Mkopo Vuka - Solidarity Group Loan samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 | | Sample 5 | | Sample 6 |
---|
Loan Amount | TZS 250,000 | | TZS 500,000 | | TZS 1,000,000 | | TZS 2,000,000 | | TZS 3,000,000 | | TZS 4,500,000 |
Loan Cycle (1, 2, 3, etc) | 1 | | Not Known | | 4 | | 4 | | 4 | | 4 |
Disbursement Date | 2013-02-19 | | 2013-02-12 | | 2012-11-30 | | 2012-11-30 | | 2012-11-30 | | 2013-01-21 |
Loan Term (Months) | 6.1 months | | 6.1 months | | 6.1 months | | 8.4 months | | 7.9 months | | 6.1 months |
Grace Period (Months) | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months | | 0.0 months |
Total Cost of Credit | Not Known | | Not Known | | Not Known | | Not Known | | Not Known | | Not Known |
True Price by Comp | | | | | | | | | | | |
Interest and Fee Component | 45.8% | | 37.6% | | 46.5% | | 45.6% | | 45.5% | | 37.3% |
Insurance Component | 3.8% | | 3.2% | | 3.7% | | 2.9% | | 2.9% | | 3.2% |
Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% | | 0.0% |
Deposit Component | 24.0% | | 58.8% | | 24.9% | | 23.9% | | 23.9% | | 57.2% |
Full APR (int fee ins tax dep) | 73.5% | | 99.6% | | 75.2% | | 72.4% | | 72.3% | | 97.7% |
Transparency Index | 33 | | 24 | | 32 | | 33 | | 33 | | 25 |
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Original Repayment Schedule | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF | | PDF | | PDF |
Mkopo Vuka - Solidarity Group Loan Price Graphs