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Friday, August 3, 2018

Free Loan application In Kenya,unsecured Loans in Kenya Apply for loan



Free loans in Kenya
Company: Branch International Inc free loans
Founded: 2015
Status: Active
Partner(s): None
Conditions for eligibility
How to apply for their free loan
– 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 free loan


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

– 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:

ZIDISHA free loan


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: $1
Maximum loan amt:
– Membership through invitation :$100
– Membership through non-invitation :$50
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 $10 – $12 to cover operation costs.
3. One time contribution fee of between $10 – $30 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.
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.

1 comment:

  1. I would wish to start my own business but I don't have enough money to so can I get a lone please

    ReplyDelete

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