There are many people who do not have access to formal finance through banks and financial institutions. This can happen for a range of reasons, beginning with intimidation and a lack of understanding on how formal finance institutions work. When people lack the proper education on financial products, they simply do not use them, and seek other solutions to help them attain financial freedom.

L-Pesa progressive loans are the solution that so many people have been seeking. The L-Pesa microloan service has helped people from all walks of life experience financial freedom, some for the very first time. This comes down to the control that a person has over their loan experience. Here is what can be expected: –

1. Getting started is very simple, typically taking one to two steps. All one needs to do is log on to the L-Pesa website at l-pesa.com and create an account by registering some personal details.
2. Once registration is complete, the next step is to make a loan application. With a formal financial institution, this would involve filling out a significant number of forms that many find intimidating, and a challenge to provide all the required information. However, one can learn some finance from the simple process on L-Pesa.
   1. Anyone can discover the cost of taking a loan by making use of the handy loan calculator that is available on the website. This way, it is possible to make an informed decision on the type of loan that one can afford.
   2. To use this, the loan type is selected, and under the product name section, the amount to be borrowed is indicated. This is followed by the choice of currency. Then, you can calculate your loan.
   3. When you choose this option, you will receive information on the credit score that you will earn from paying back the loan, the loan repayment period in weeks, the interest rate that is charged per day, and a further breakdown for weekly payments and total amount that will be paid back.
3. With L-Pesa, the financial education received is invaluable. Borrowers will easily understand how to calculate their interest, and the amounts that should be paid back in time so that they can borrow their next loan. They also learn how loans are paid back over a period of time and in small quantities. This is knowledge that they may never have understood if they had only formal options to explore. With the formal options, information may be provided, but it may not be understood clearly.

A quick look at the L-Pesa method and the service provided reveals that knowledge is power. At L-Pesa, there is thought that has been applied to making finance simple and easy to understand. We want all our customers to have the best financial education, so that they can have the liberation of controlling their own money. This is why more and more people are signing up for this service, it is the power of progressive finance.