Table 2 Microcredit Finance Groups’ Mean Characteristics
Characteristics | Mean | Minimum | Maximum |
|---|---|---|---|
Years of existence (years) | 8 | 2 | 18 |
Savings mobilization (naira) | N420,000 | N250,000 | N600,000 |
Loan duration (month) | 6 | 3 | 12 |
Interest rate (per annum) | 40 | 8 | 70 |
Membership strength (number) | 13 | 6 | 24 |
Number of meeting per month | 3 | 1 | 4 |
Visitation by Credit officer (number) | 8 | 2 | 21 |
Distance travel to Bank (km) | 15 | 1 | 33 |