BRANCH
Company: Branch International Inc
Founded: 2015
Status: Active
Partner(s): None
Conditions for eligibility
– Registered and active Mpesa user.
– Must possess an active Facebook account.
– Accumulation of more SMS and Mpesa transcation messages on phone.
– Stay current on all other loans.
(NOTE: Facebook name MUST match with the legal names in your identity card)
– Download & install Branch app from Google PlayStore
– Link app to your Facebook account
– Fill in the required details ( Mpesa number, National ID names and number)
– Verify your account by clicking on the link that will be sent via SMS to your phone
Minimum loan amt: kshs.1000
Maximum loan amt:
Repayment duration: 3 equal weekly installments
Loan interest rate: Dependent on the repayment of the weekly installments by due date which will ultimately INCREASE credit score and DECREASE the interest rate
Loan disbursement mode: via Mpesa
Loan repayment mode:
How it works:
– Download & install Branch app from Google PlayStore
– Link app to your Facebook account
– Fill in the required details ( Mpesa number, National ID names and number)
– Verify your account by clicking on the link that will be sent via SMS to your phone
Loan increment eligibility
– Repayment behaviour
Loan default penalty:
– Decrease in the Branch credit score
– Inability to get larger loan amounts
– Loan denial for 7 days or longer
– Report to the CRB
SAIDA
Company: Saida
Founded:
Status: Active
Partner(s): None
Conditions for eligibility:
1. Use mobile money Services such as M-Pesa, Airtel Money at least once every two days
2. Make and receive calls, sms and data services on a daily basis.
3. Have an income that is enough to pay back your loan and your living expenses.
4. Have the financial discipline of saving, investing and paying your obligations on time.
Minimum loan amt: shs.600
Maximum loan amt: shs.15,000
Repayment duration: 30 days
Loan interest rate: 10%
Loan disbursement mode: via Mpesa or Airtel Money
Loan repayment mode: via Mpesa or Airtel Money
How it works
– Download & install Saida app from Google PlayStore
– Fill in your mobile number to request for an invitation.
NOTE: Invitations could take upto 3-7 days for approval
Loan increment eligibility:
– Repayment behaviour
Loan default penalty:
Company: Zidisha
Founded: 2008
Status: Active
Partner(s): None
Conditions for eligibility:
1. Be of good reputation and have the support of family, neighbors and a local community leader (such as a school principal or leader of a place of worship).
2. Not currently hold any debt or outstanding loans from other sources.
3. Have an active business or employment with sufficient income to ensure repayment of the loan in regular installments.
4. Have access to the Internet on a regular basis, and be able to fill out entrepreneur profile and application forms and respond to lender comments at the Zidisha website.
5. Hold an active personal Facebook account with extensive social connections.
6. Be able and committed to posting frequent updates regarding use of the loan and progress of the business on the Zidisha website.
7. Reside in a country where Zidisha currently operates.
Minimum loan amt: KSh 100
Maximum loan amt:
– Membership through invitation :KSh 10000
– Membership through non-invitation :Ksh 500
Repayment duration: weekly or monthly installments
Loan interest rate: None
1. Existence of a 5% service fee of the loan amount to cover cost of transferring and administering the loan.
2. One time membership fee of between Ksh 1000 – Ksh1200 to cover operation costs.
3. One time contribution fee of between Ksh1000 – Ksh3000 to fund loans and re-inburse lenders in the event of a default.
NOTE: These costs are paid ONLY if the new member succeeds in raising a loan and cover lifetime membership.
– Download & install Saida app from Google PlayStore
Loan disbursement mode: via Mpesa
Loan disbursement mode: via Mpesa
Loan repayment mode: via Mpesa
How it works
Loan increment eligibility:
– High positive feedback rating from lenders.
Loan default penalty:
– Disqualification from funding any new loans in the future.
– Blacklist by the local credit bureaus.
– Legal prosecution resulting in confiscation of property, fines and other legal penalties.
PESA NA PESA (PNP)
Company: AVL Capital
Founded: 2015
Status: Active
Partner(s)
Conditions for eligibility:
– Physical face to face registration (done only once)
– Borrowers required to provide collateral/security
Minimum loan amt: kshs 500
Maximum loan amt: kshs. 10,000
Repayment duration: 10 days
Loan interest rate: 10%
Loan disbursement mode:
Loan repayment mode:
How it works
– Physical face to face registration (done only once)
Registration requirements include:
1) National ID copy
2) Phone number
3) Active email address
4) Physical address
5) Postal address
– Borrowers required to provide collateral/security/guarantors
Securities/Collateral/Guarantors requirements include:
1) Employer guarantee on salary
2) Chama guarantee on chama savings
3) Securities guarantees on shares (stocks/bonds)
Loan increment eligibility:
– Previous borrowing history status
Loan default penalty:
–
KCB MPESA LOAN
Company: KCB Mpesa
Founded: 2015
Status:Active
Partner(s):KCB (Kenya Commercial Bank)
Conditions for eligibility:
– At least 18 years old
– Registered & active Mpesa account (6 mths)
– Updated Mpesa menu
Minimum loan amt: kshs 50
Maximum loan amt: kshs. 1,000,000
Repayment duration: 30 days
Loan interest rate: 1.16% per month with a one off negotiation fee of 2.5%. The cost for the one month loan is 3.66% with excise duty applicable on fees
Loan disbursement mode: via KCB Mpesa account
Loan repayment mode: via Mpesa or KCB Mpesa
How it works
– Dial *844# from a Safaricom line and follow prompts
Loan increment eligibility:
– Previous loan repayment behaviour
– Mpesa transactions activity
– Savings with KCB (Optional)
Loan default penalty:
Company: Mshwari
Founded: 2012
Status:Active
Partner(s):CBA (Commercial Bank of Africa)
Conditions for eligibility:
– At least 18 years old
– Registered & active Mpesa account (6 mths)
– Updated Mpesa menu
Minimum loan amt: kshs 100
Maximum loan amt: kshs. 20000
Repayment duration: 30 days
Loan interest rate: 7.5%
Loan disbursement mode: via Mpesa
Loan repayment mode: via mpesa or Mshwari
How it works
Loan increment eligibility:
– Previous loan repayment behaviour
– Mshwari savings behaviour
– Usage of other Safaricom services
Loan default penalty:
– Extension of loan period by an additional 30 days with a further 7.5% facilitation fee on the outstanding loan balance.
– Loan denial for a period of 30 days after late loan repayment.
Company: Inventure Mobile Ltd
Founded: 2014
Status: Active
Partner(s): None
Conditions for eligibility
– Download & install Tala app from Google PlayStore
– Link app to your Facebook account
– Answer a few personal questions (Loan qualification is dependent on the feedback you give on the questions)
Minimum loan amt: ksh.500
Maximum loan amt: kshs.50,000
Repayment duration: 3 equal weekly installments
Loan interest rate: 15%
Loan disbursement mode: via Mpesa
Loan repayment mode: via Mpesa to Paybill number 851900
How it works:
– Download & install Tala app from Google PlayStore
– Link app to your Facebook account
– Answer a few personal questions (Loan qualification is dependent on the feedback you give on the questions)
Loan increment eligibility
– Repayment behaviour
Loan default penalty:
– Restriction from qualifying for future loans
Company: Kiva
Founded: 2005
Status: Active
Partner(s): MicroFinance institutions (Field Partners)
Conditions for eligibility:
Minimum loan amt: Dependent on lenders
Maximum loan amt: Dependent on lenders
Repayment duration: Not specified
Loan interest rate: 34% (varies by country and partner)
Loan disbursement mode: via PayPal/Kiva account
Loan repayment mode: via PayPal/Kiva account
– Choose a borrower – Make a loan – Get repaid
Loan increment eligibility: Dependent on lenders
Loan default penalty:
– All contributing lenders are notified via email therefore they can consider the remaining amount an outstanding loss.
Company: Airtel Ltd
Founded: 2012
Status: Active
Partner(s):Faulu Kenya
Conditions for eligibility
– Registered and active Airtel money user (6mths)
Minimum loan amt: kshs.500
Maximum loan amt: kshs.10000
Repayment duration: 10 days
Loan interest rate:
Loan disbursement mode: via Airtel money
Loan repayment mode: via Airtel money
– Apply for Kopa Chapaa loan via the Airtel Money menu
– Access the Kopa Chappa loan by dialing *305*2#
– Repay the Kopa Chapaa loan via Airtel Money
Loan increment eligibility
– Repayment behavior
Loan default penalty: – Default penalty on the 11th day equivalent to the Kopa Chapaa charge and subsequently thereafter for every set of ten (10) days in default.
OKOA STIMA
Company: Safaricom
Founded: 2015
Status: Active
Partner(s): Kenya Power
Conditions for eligibility
Minimum loan amt: kshs.100
Maximum loan amt: kshs.2000
Repayment duration: 7 days
Loan interest rate: 10%
Loan disbursement mode: via Mpesa
Loan repayment mode: via Mpesa
How it works:
– Dial *885# from a Safaricom line
– Accept the Terms and Conditions
– Input your ID number and PIN (The PIN and a confirmation message, required to complete the registration process, are then sent by SMS to your phone.
Once registered, you can then add meter numbers and borrow prepaid units by dialing *885#.
Loan increment eligibility Loan default penalty
PESA PATA
Company: Paddy Micro Investments
Founded: 2012
Status: active
Partner(s): None
Conditions for eligibility:
– Registered and active Mpesa user.
– Must possess an active Facebook account.
– Processing fee of sh 100
Minimum loan amt: sh.1000
Maximum loan amt:
Repayment duration: weekly installments
Loan interest rate: 30%
Loan disbursement mode: Via Mpesa
Loan repayment mode:
How it works
– Download & install Pesa Pata app from Google PlayStore
– Log in using your Facebook account
– You will require to input your National ID and phone number
– You will be required to pay a non-refundable acceptance fee as prompted when applying for a loan.
– You will require to input your National ID and phone number
– You will be required to pay a non-refundable acceptance fee as prompted when applying for a loan.
Loan increment eligibility
– Repayment behavior
Loan default penalty
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