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Institution

Foundation for International Community Assistance (FINCA) Stand No. 4513 Madzimoyo Road, NorthmeadLusaka, Lusaka Province50061
Data approved: 2011-12-12
Data version: 1
Age of data: -   months 

Product

Small Group Loans Product 2 of 3 « Prev | Next »

Product Details

Key Statistics
Outstanding portfolio (ZMK)ZMK 3,323,972,865
Portfolio (USD)USD 642,313.60
Active Clients with Loans3,112
Approximate % Female Clients60% - 80%
Approximate % Urban Clients80% - 100%
Methodology
Individualx
Solidarity group
Village banking
Self help group
Other
Description
Small group Loans is a loan product for small groups of 5 to 10 members. This product offers low collateral requirements, fast loan processing time, Credit Life Assurance and Funeral benefits.
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 insurance
Workplace visits
Business training
Other training
OtherFuneral Benefits
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 be part of a selt selected group
# 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
CurrencyZMK
Minimum loan sizeZMK 1,200,000
Maximum loan size10,000,000
Loan Term and Grace Period
Shortest loan term6.0 months
Longest loan term12.0 months
Approx average9.0 months
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 interest5.00%
Highest quoted nominal interest5.00%
Interest rate periodMonthly
Interest Rate Calculation MethodFlat
Subsidized by funder request?No
Is rate fixed for entire loan termYes
Upfront Fees
Fee 1
DescriptionProcessing Fee
% of loan amount - min2.50%
% of loan amount - max2.50%
OR, Fixed amount - min0
Fixed amount - max0
Reason for variationN/A
Appears on Repayment Sched?No
Ongoing Fees
This product has no ongoing fees
Upfront Insurance Fees
Ins 1
DescriptionInsurance Cover
% of loan amount - min1.25%
% of loan amount - max1.55%
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 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 deposited0
or, Fixed-amount deposited0
Conditions on access to depositEnd Term
Interest Paid on Deposit
Minimum interest rate paid0
Maximum interest rate paid0
Interest payment frequencyN/A
Taxes
Are taxes charged on this product?No

Full Pricing Data

Small Group Loans samples
Sample 1Sample 2Sample 3Sample 4
Loan AmountZMK 1,500,000ZMK 3,000,000ZMK 3,500,000ZMK 5,000,000
Loan Cycle (1, 2, 3, etc)Not KnownNot KnownNot KnownNot Known
Disbursement Date2011-06-082011-06-232011-05-262011-05-26
Loan Term (Months)6.0 months6.0 months6.0 months6.0 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 Component106.0%111.9%111.5%111.5%
Insurance Component6.7%6.9%6.9%6.9%
Tax Component0.0%0.0%0.0%0.0%
Deposit Component20.5%21.8%21.9%21.9%
Full APR (int fee ins tax dep)133.3%140.6%140.2%140.2%
Transparency Index45434343
        
Original Repayment SchedulePDFPDFPDFPDF
MFT Pricing CalculationPDFPDFPDFPDF
Small Group Loans Price Graphs


Institution # Borrowers Portfolio (US$) Products Age of Data
ABT25,40037,378,0002114
AKIBA26,90036,852,0004127
BELITA5,800492,0001127
BRAC Tanzania102,30019,663,0002127
F & K Finance038,0001150
FINCA Tanzania78,40031,517,0003110
FMFC1,500392,0006127
K-Finance Ltd1,000264,0002127
Mbinga1,0002,986,0003127
MCBL3,6002,837,0006127
MDF Tanzania600148,0001127
NMB45,10074,528,0001127
Opportunity8,6003,018,0003127
PRIDE Tanzania104,40033,321,0003127
PTF-N/A127
Selfina8,0003,773,0002150
Tujijenge Tanzania10,0002,060,0004127
VF^Tanzania34,3907,613,0004121
Victoria100377,0003150
YOSEFO17,1002,211,0003150
Caps / Zoom options
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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