Safaricom Mpesa business loans are a new service that has been recently launched by Peter Ndegwa, the new CEO of Safaricom, Kenya’s leading mobile-network service provider. The service aims to make it easier for small business owners and entrepreneurs to access financial services to help them to grow their businesses.
In order to get a Safaricom Mpesa business loan, the first step is to register as a business customer. You can do this by visiting www.safaricom.co.ke/register. Once you have signed up, you will be able to access the Mpesa Small Business Platform.
This platform allows businesses to manage and carry out transactions quickly and securely. It also offers business loans of up to Kshs2.5 million, which can be used for any business-related expenses.
The loan application process is fairly straightforward. All you need to do is provide some basic information about yourself and your business and then submit your application.
Once you have completed your application, Safaricom will review it and offer an appropriate loan if your application is approved.
How to Register for Mpesa Business Loans
Merchants will use their nominated numbers to access the service.
- 1. Dial *234# from the Nominated Number.
- 2. Select Mpesa Business Till.
- 3. Enter your Store Number.
- 4. Select Business Loans.
- 5. Select Access loans from our partners.
- 6. Select the partner.
- 7. Accept the Terms & Conditions to opt into the Mpesa Business Loans.
- 8. Enter the Operator PIN & ID.
How to Access Mpesa Loan
- 1. Dial *234#.
- 2. Select Mpesa Business Till.
- 3. Enter your Store Number.
- 4. Select Business Loans.
- 5. Select Access loans from our partners.
- 6. Select the partner.
- 7. Select Request Loan.
- 8. Enter the Amount.
- 9. Select a Loan Repayment Period.
- 10. Enter the Operator ID and PIN.
The repayment terms for the loans are flexible and can be tailored according to your individual circumstances. The repayment period is typically between 12 and 24 months. Businesses can make payments via Mpesa Mobile Money.
MUST READ: How to Deposit Money from M-PESA to KCB
Safaricom Mpesa business loans are a great way to access financial support for small businesses in Kenya. They make it easier for businesses to access capital and it is a much quicker and simpler process than traditional bank loans. The flexible repayment terms also make it an attractive option for business owners.
If you are interested in applying for a Safaricom Mpesa business loan, the first step is to register as a business customer and begin the application process. Safaricom will review your application and make a decision quickly. Once you have been approved, you can access the loan and begin working towards achieving your business goals.
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