Hi Keith
There are different ways used in MFIs but the one I was associated with
worked as follows:
For a client in a group they look for 10% collateral to be held in the
clients saving account for the duration of the loan term.
For a client not in a group they look for 40-50% collateral to be hel
Gayl, Nayan,
Thanks for your points. I have summarised details so far as follows:
MFIs/NGOs exist to provide financial services for clients
- client may want to use these services due to:
- they are very poor and have no collateral and can't getting
banking services from other sources
Hi Keith
at the MFI in Nigeria we had some centres which were small, 4-8 people which
we treated as one group but others were much larger with 20-30 people and
they were divided into groups of about 5 people which guaranteed each others
repayments.
In mifos for the small centres we still set them u
Hi Keith,
>For larger MFIs, would it be fair to assume that they would have
>branches that not only target rurual areas but also urban areas where
>the notion of a 'center' would not be used (i.e. the groups or
>individual clients come into the branch directly)?
Yes(at least in India). they targe
Vivian, Ryan,
Thanks for your replies. They were interesting.
I have started to capture these details at
http://mifosforge.jira.com/wiki/display/MIFOS/Microfinance+Customer+and+Domain+Knowledge+Center
Some follow up questions concentrating on Center for now:
> Q1: What is a center?
> Centers ar
Agreed with all of this, and this generally meets the standard Grameen II
Model. But I will add that we will always find exceptions.
For example, I know of one MFI that has the concept of Centers and clients,
no groups. Really, its just a big group (30-40 members), but they call them
Centers and
Hi Keith,
I’ll answer based on what I’ve experienced, although that’s limited to two
MFI’s in Bolivia and Nuru MF operations in Kenya. I’m sure others will have
different definitions –
Q1: Centers are physical locations where MF clients meet to conduct
activities associated with the loan cyc
Hi all,
For us technology people currently working on mifos its important that
we have a good grasp of the domain. This helps us to develop a better
product, one that is more flexible and responsive to change in the
microfinance industry. We will try to document what we learn here
http://mifosforg
