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My C4
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Mududu Francis
Services, Uganda
Mududu Francis runs a drug shop where he sells drugs and other kind of medicine. He is seeking for a loan to purchase a motorcycle for transport and also boost his stock.
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Status
Status
Defaulted as of 21/12/2010.
Investments
100% of €918 funded by 37 investors.
Repayments
95% repaid. 100% should have been repaid by now according to loan contract. Repayment is not on track.
Key Figures
Loan amount for crowdfunding
€918
Investor interest rate
14.00% p.a.
Current investor interest rate
9.42% p.a.
Loan currency
Ugandan Shilling
Annual percentage rate (APR)
34.48%
Annual percentage rate (APR)
The Annual Percentage Rate (APR) is an expression of the effective interest rate that a business pays on a loan annually. The APR counts for loan closing fees and insurance (one-time) as well as interest payments (monthly).
APR as a measure of cost takes into account all costs of a loan and then expresses these costs as a single annual rate. It is quite often confused with interest rate, or mistaken to be the same, but the two are quite different. APR’s usefulness is that it offers a level playing ground for comparing loan pricing by different players. It basically helps us compare apples to apples when it comes to pricing.
We are showing the APR on each business separately in order to create as much transparency about the actual costs for the business as possible.
Total cost for business
≈ €169
Payback period
12 months (no grace period)
Collateral & security
Other Loans
Other loans with MYC4
This is the only loan with MYC4.
Costs for Business
Interest to investors
≈
€44
Interest to provider
≈
€56
Interest to MYC4
≈
€9
Interest costs for business
≈
€109
Fee to provider
≈
€41
Fee to MYC4
≈
€18
Insurance
≈
€0
Total fee and insurance
≈
€60
Total costs for business
≈
€169
Total costs for business
This represents in absolute amounts the total cost (interest fees, closing fees, and insurance) that a borrower who repays timely as per the repayment schedule will have incurred at the completion of the loan. The amounts listed here are in approximate values as the borrower will repay the loan in local currency.
Partner
Provider
Gatsby Microfinance Limited
Administrator
Gatsby Microfinance Ltd.
Product
Not Named (102)
Loans
Open
Pending
Funded
Repaid
Cancelled
Defaulted
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