Date Posted: 9/29/2015 3:20:59 AM
Posted By: valence1991 Membership Level: Bronze Total Points: 45
In Kenya you have to have an asset for you to access loans from different financial institutions or even from untrusted friend but with online loans , you can make your dream come true.The following are the some of the online platform that can give you loans at a lower interest rate within a period of your convinience : ZIDISHA, KIVA, KCB-MPESA ,M-SHWARI among others .ZIDISHAThis is an online platform which is non profit organization and its derives its name from a swahili word 'Zidisha' meaning grow and operates on person to person lending. Persons interested can be invited by a friend who is a member or has an account with the platform or alternatively you can just create an account online because the whole process is paperless.If you are invited by a member you stand a chance of qualifying for a higher loan but when you just create an account from scratch then your limit will be lower.You only need to have an active facebook account with correct information , then write your business proposal and post a loan that will take at least one week to approved after that you accept the bid and wait for the disbursement which will be done directly to your M-Pesa account.If one maintains a 90% on time repayment rate you stand a chance to qualify for a higher loan limit and ability to invite friends of which you receive an invite bonus of ksh2000 for every friend you invite KIVAIt also operates like Zidisha its only that you can only raise student school fee from the platform, unless you are United States Citizen then you cannot borrow business cash from the platform.It is also fast convenient and reliable and also paperless.They have their offices at Day Star Uni9versity in Nairobi which was launched in the country some years back .KCB-MPESAThis is also a paperless platform that helps you generate cash for your business and other activities .One can borrow more than ksh.70,000 from the platform as long as you M-pesa statement is well maintained .The loan limit differ from one individual to another depending on how active you m-pesa account .To get this loan you must pen an account by dialing *844# then accept the terms and conditions , wait for the approval of the account .You will receive a message with a Personal Identification Number (PIN) which you can change for your security purpose you can then request a loan depending on the limit created by the platform for your case.You will get a message for the confirmation of the same and thereafter get the cash in your KCB-MPESA account which you can transfer to M-pesa for withdrawal.M-SHWARIThis is platform which is provided by the service providers Safaricom , you only need to get the Safaricom line then activate the M-pesa menu.In the M-pesa menu go to 'my account' the 'update menu'.A confirmation message will be sent to you and from there you can proceed to apply the loan depending on your loan limit and the more you use your M-pesa account the more you stand a chance for a loan increase and also if you make your payment on time you also stand a chance to qualify for a higher loan limit and this can help you achieve you dreams if you are determined.After reading this article hope your Business and financial life will change , and I wish the readers of this article success in there endeavors in Jesus Christ's name
Next: Land Tenure in Pre-Colonial KenyaPrevious: The services offered by eCitizen portal in Kenya
Get premium membership