Please note that the information you are viewing is 113 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Foundation for International Community Assistance (FINCA) Stand No. 4513 Madzimoyo Road, NorthmeadLusaka, Lusaka Province
Data approved: 2014-10-20
Data version: 2
Age of data: 113 months
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Product

Business Loans Product 4 of 7 « Prev | Next »

Product Details

Key Statistics
Outstanding portfolio (ZMW)ZMW 45,786,720
Portfolio (USD)USD 7,150,968.24
Active Clients with Loans5,473
Approximate % Female Clients60% - 80%
Approximate % Urban Clients20% - 40%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
The FINCA Business Loan is an individual loan that offers flexible monthly repayment terms, competitive interest rates, Credit Life Assurance and Funeral benefits. Moreover, this is a loan product that is customized to your needs
Loan Purpose
Any purpose
Income generationx
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
OtherMust have a valid National Registration Card
Other (2)Must have business or personal assets to pledge
# Borrowers by Product
Portfolio Size by Product
Geographic Coverage
# Regions for this institution5
# Regions for this product5
Regions ActiveCentral Province, Copperbelt Province, Eastern Province, Northern Province, Southern Province

Loan Conditions

Loan Amount
CurrencyZMW
Minimum loan sizeZMW 1,500
Maximum loan size100,000
Distribution at Disbursement (Est.)
Loans less than ZMW 5000
ZMW 500-2,0000
ZMW 2,000-3,2505%
ZMW 3,250-4,5005%
ZMW 4,500-6,00015%
Greater than ZMW 6,00015%
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term24.0 months
Approx average11.0 months
Distribution at Disbursement (Est.)
Loans 3 months or less0
Between 4 and 6 months5%
Between 7 and 9 months20%
Between 10 and 12 months60%
Between 13 and 18 months10%
Longer than 18 months5%
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 interest4.28%
Highest quoted nominal interest4.33%
Reason(s) why interest rate variesLoan Size, N/A
Interest rate periodMonthly
Interest Rate Calculation MethodDecl Bal
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1Fee 2
DescriptionArrangement and Deposit FeeAsset Inspection and Credit Reference Fee
% of loan amount - min7.96%0
% of loan amount - max8.00%0
OR, Fixed amount - min075
Fixed amount - max0125
Reason for variation1.96% to 2% paid for Arrangement fee and 6% for Deposit fee. The processing fee varies depending on the loan cycle. Repeat clients are offered a lower processing fee.Asset Inspection Fee = 25; CRF 50 for loan < 15,000 and 100 ZMW for loan between 15,000 to 100,000ZMW
Appears on Repayment Sched?YesYes
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionCredit Life Insurance
% of loan amount - min1.00%
% of loan amount - max1.00%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?Yes
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 Loans samples
Loan Amount
Type of Sample
Disbursement Date
Loan Term (Months)
Grace Period (Months)
Total Cost of Credit
Full APR (int fee ins tax dep)
True Price by Component
Transparency Index
Original Repayment Schedule
MFT Pricing Calculation
Interest price component
Fee Component
Insurance Component
Tax Component
Deposit Component
ZMW 2,100 Generated 2014-11-01 12.2 months 0.0 months ZMW 923.29 81.4% 50.9% 28.1% 2.4% 0.0% 0.0% 63 - PDF
ZMW 3,500 Generated 2014-11-01 12.2 months 0.0 months ZMW 1,482.15 77.5% 50.9% 24.2% 2.4% 0.0% 0.0% 66 - PDF
ZMW 4,165 Generated 2014-11-01 12.2 months 0.0 months ZMW 1,752.86 76.9% 50.9% 23.6% 2.4% 0.0% 0.0% 67 - PDF
ZMW 4,900 Generated 2014-11-01 18.2 months 0.0 months ZMW 2,815.28 69.0% 50.9% 16.4% 1.7% 0.0% 0.0% 74 - PDF
ZMW 5,635 Generated 2014-11-01 18.2 months 0.0 months ZMW 3,218.82 68.4% 50.9% 15.8% 1.7% 0.0% 0.0% 75 - PDF
ZMW 6,300 Generated 2014-11-01 12.2 months 0.0 months ZMW 2,594.88 74.8% 50.9% 21.5% 2.4% 0.0% 0.0% 69 - PDF
ZMW 7,000 Generated 2014-11-01 12.2 months 0.0 months ZMW 2,869.31 74.3% 50.9% 21.1% 2.3% 0.0% 0.0% 69 - PDF
Business Loans Price Graphs


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

Hofokam Ltd Head OfficeFort Portal, Western UgandaPO Box 228
Data approved: 2012-07-24
Data version: 2
Age of data: 136 months

Institution Details

Institution TypeNon-Governmental Organization
Is this institution regulated?No
Website addressN/A
Year established2003
Head of InstitutionCharles Isingoma
Regions activeWestern
# Branches7

Total Portfolio (nat'l)UGX 11,983,000,000
Total Portfolio (USD)USD 4,745,742.57
Active clients with loans20,908
Approximate % female clients40% - 60%
Approximate % urban clients60% - 80%
Network affiliationsAMFIU, AMT, MFI Upgrading Initiative
FundersTriple Jump, Oikocredit, TRIAS, CRS

Loan Products » Summary

2,506 Borrowers
USD 249,259.05 Portfolio
Active Product
2,951 Borrowers
USD 1,777,613.89 Portfolio
Active Product
573 Borrowers
USD 228,537.39 Portfolio
Active Product
140 Borrowers
USD 127,700.42 Portfolio
Active Product
1,278 Borrowers
USD 138,744.51 Portfolio
Active Product
9,843 Borrowers
USD 622,744.60 Portfolio
Active Product

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Agriculture Loan UGX 50,000 - 15,000,000 6 - 12 60% - 80% 20% - 40% Business Women, Men, Have business, Have home or land Credit Educ, Group Mtgs, Tech Asst Visits, Business Training
Individual Loan UGX 500,000 - 10,000,000 6 - 24 20% - 40% 20% - 40% Business, Housing, Education Women, Men, Have business, Have home or land Credit Educ, Group Mtgs, Tech Asst Visits, Business Training
Salary Loan UGX 250,000 - 10,000,000 6 - 12 20% - 40% 20% - 40% Housing, Consumer, Education Women, Men, Salaried worker, Specific age group Credit Educ, Group Mtgs, Tech Asst Visits, Business Training
School Fees Loan UGX 700,000 - 1,500,000 6 - 8 20% - 40% 20% - 40% Education Women, Men, Have business Credit Educ, Group Mtgs, Tech Asst Visits, Business Training
Solidarity Group Loan UGX 200,000 - 500,000 4 - 12 60% - 80% 40% - 60% Business, Consumer, Education Women, Men, Have business, Have home or land Credit Educ, Group Mtgs, Tech Asst Visits, Business Training
Village Bank Loan UGX 50,000 - 5,000,000 4 - 12 40% - 60% 0% - 20% Business, Consumer, Education Women, Men, Have business, Have home or land Credit Educ, Group Mtgs, Tech Asst Visits, Business Training

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Agriculture Loan 33.60% annual, Flat 1 Fee 1 Ins None 20.00% upfront 32.8% - 56% 41.2% - 93.3% 54
Individual Loan 30.00% annual, Flat 1 Fee 1 Ins None N/A 60.1% - 61.1% 61.2% - 79.9% 44
Salary Loan 33.60% annual, Flat 1 Fee 1 Ins None N/A 38.8% - 41% 39.2% - 45.8% 81
School Fees Loan 33.60% annual, Flat 1 Fee 1 Ins None N/A 61.2% - 61.6% 66.1% - 76.2% 47
Solidarity Group Loan 36.00% annual, Flat 1 Fee 1 Ins None 20.00% upfront 64.2% - 65.3% 82.1% - 90.9% 41
Village Bank Loan 36.00% annual, Flat 1 Fee 1 Ins None 20.00% upfront 64.4% - 64.7% 67% - 69.1% 52
Institution Price Graph
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Key Statistics
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Loan Portfolio (USD)
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% Products with one or more fee
% Products with one or more insurances
% Products with compulsory deposits
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