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Mshwari

The first thing that is very important about M-Shwari is that this is a banking service not just a loans or savings option. But since this is a Loans Website we will focus on the loans part of the M-Shwari Service. Safaricom and CBA are the main corporations that offer M-Shwari to allow the people who use Mpesa to borrow loans and save money at very low interest rates. For example, a loan of Ksh 1000 for a duration of a month will be paid back with the interests of Ksh 75. The limit of the loan that you can get is guided by the amount of money that you save with MShwari. The loan does not require any security and there is no minimum balance for an M-Shwari account. Read More about “Mshwari”

KCB MPESA

The KCB M-PESA account is a virtual mobile based bank account that is offered exclusively to M-PESA registered customers allowing them to borrow small loans between Kshs.50 and Kshs.1M depending on the customer’s credit scoring. It is also used as a savings account at highly competitive rates. Safaricom and KCB Bank are the companies that are behind this venture that allows their customers to save and borrow money at their convenience by simply using their phones. Read More about “KCB MPESA”

TALA

Tala is a California-based finance application in Kenyan market that provides credit through your mobile phone. All with low charges and an easy repayment schedule. Tala disburses loans via M-pesa of up to Kshs.50, 000. It was formerly known as Mkopo Rahisi before it was upgraded and rebranded to Tala. With the latest version you can see new features such as checking your credit limit and also seeing customers’ success stories. Once you download Tala you are asked to scan your M-pesa SMS and other information for verification of your identity and creditworthiness. This ensures that you are given a fast loan. Read More about “TALA”

Branch

Branch is a for-profit socially conscious company based in San Francisco and Nairobi. It prides itself in using technology to dramatically reduce the cost of delivering financial services in emerging markets. Their first product is credit. Branch is like a bank in your pocket, there for you at all times. It is also considered as a Facebook-linked mobile application that allows users to borrow and repay micro-loans through Safaricom’s mobile payments service M-pesa.

Saida

Saida is an app that helps people get approved for short term loans based on their activity on their phones. It gives you access to fast and convenient loans to your M-pesa or Airtel Money. Unlike other products, you are required to have saved before requesting a loan. Read More about “Saida”

Zidisha

Zidisha is a non-profit organization that allows people lend small amounts of money directly to entrepreneurs in developing countries. It is the first online micro lending community that directly connects lenders and borrowers, no matter the distance or disparity among them. Read More about “Zidisha”

Pesa na Pesa

Pesa na Pesa is an innovative mobile phone based borrowing and lending product developed by AVL Capital ltd which offers emergency loans to anyone who needs short term emergency funds. It is an economic stimulant. It is a facility payable within 7 days for amounts up to Kshs.5, 000. However, early payment is encouraged at no charge, and you stand a higher chance of getting a limit increment. Funds are disbursed to a customer’s M-Pesa account and repayments are sent to AVL CAPITAL Paybill Number 990390 and the account number as the borrowing phone number. Read More about “Pesa na Pesa”

Kiva

Kiva micro funds are a non-profit organization that allows people to lend money via the internet to low- income entrepreneurs and students in over 80 countries. Kiva’s mission is to connect with people through lending to alleviate poverty. Kiva is headquartered in San Francisco, California.
Eligibility for the loan
Instead of checking credit scores, going over your most recent cash flow documents, and requiring collateral, Kiva relies on what they call ‘Social underwriting’. That is, they measure your character and community standing. Read More about “Kiva”

Kopa Chapaa

Kopa Chapaa is a convenient 10 day loan available to Airtel Money customers for low-value cash emergencies in partnership with Faulu Kenya. The loan amounts and its partnership with micro-finance institution indicate that the service is targeted at the low end market. Faulu and Airtel are counting on the credit reference bureau to help profile risky borrowers. Kopa Chapaa is geared to exploit technology to scale up outreach to the unbanked and semi banked by the reducing cost of transactions, improving on convenience and ease of access. Read More about “Kopa Chapaa”

Okoa Stima

Okoa Stima is a service that was introduced by Safaricom in attempt to reduce the disruptive nature of the prepaid electricity tokens by KPLC. It is a service that allows Safaricom and KPLC customers to avoid power disconnections without necessarily having to pay immediately. The works by enabling customers to borrow any amount within their credit limit and use the same amount to settle power bills. It basically allows you to borrow money of any amount, payment of power bills, purchase of tokens, bill querying and presentment and access to emergency power top up. This is actually a loan facility from Safaricom – serviced at 10 percent fee via Mpesa money transfer service. Users can register up to 3 meters which can then be eligible for top-ups using Okoa Stima. Read More about “Okoa Stima”

Pesa Pata

Pesa Pata, Swahili word for ‘get money’, is an innovation by Paddy Micro Investments which has an excellent track record for providing unsecured loans to small business and making a profit at it. It is a scratch card micro credit startup serving ordinary Kenyans through a network of local shops stocked with Pesa Pata scratch cards. It is a micro-finance institution that aims at the low-income bracket people who might not qualify to get loans in banks and those who need quick cash to solve a need. Just like mobile loan apps, loans applied through Pesa Pata are received in the form of M-pesa. Read More about “Pesa Pata”

Utunzi Loan App

Utunzi Ventures is a micro lender in Kenya that provides quick and affordable loans through an android mobile app Known as “Utunzi Loan App” It serves as a borrowing platform, enabling you as a borrower to apply for loans ranging from Kshs.500 up to Kshs.100,000. Loan approvals depend on your credit score that is calculated automatically by the app while also considering the information you give on the questionnaire given. Once your loan has been approved, the money is disbursed to your MPesa account within minutes. Read More about “Utunzi Loan App”

Shika Loan App

Shika Loan Application belongs to Alternative Circle which is a credit company in Kenya. Credit companies are growing at a very high rate in Kenya but very few are able to meet the borrowers’ needs. Shika is among the very few.
This is an app that serves as a platform where borrowers can access quick loans from an Alternative Circle. The app is available to android system mobile phone users in Kenya. You are required to have a Safaricom simcard for you to use the service.
Read More about “Shika Loan App”

Timiza loan

Timiza was launched by the Barclays Bank of Kenya. This is a digital platform that offers various services such as loans, insurance and serves as a bank account.

TO SUCCESSFULLY PROCURE A LOAN FROM TIMIZA, YOU REQUIRE THE FOLLOWING:

To register for the services you will receive;
This is accomplished by: a) dialing *848# by using your Safaricom line
b) Downloading the app from Google Play Store. Read More about “Timiza loan”

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