When you first hear about L-Pesa, you are likely to believe that the services are too good to be true. This comes down to the fact that L-Pesa has the ability to offer anyone financial freedom, as long as they are above eighteen and have a mobile banking account through Microloans.
L-Pesa makes it possible for anyone to gain access to funds, as long as they meet the very basic criteria that has been laid out by the service provider. Want to know what these criteria are? They include the following: –
– One needs to have valid and genuine identification documentation. This documentation is the reference point to ensure that oneÔÇÖs phone line belongs to them, and thus they can get access to the loans.
– L-Pesa is delivered through mobile banking, meaning that the service can be accessed from anyone with a mobile device. This increases the reach of these services considerably, so that people in both urban and rural areas can gain access to funds. The only thing that one must take note of is that their mobile banking accounts needs to have been active for at least six months. This is the evidence that one is able to carry out transactions with ease.
– The application process needs to be done in full. During this process, one will go through verification, to prove that they are able to repay the loan that is being offered. There is always the aspect of risk when it comes to getting a loan. To avert the risk, the first loan is always small and the amount that one can borrow increases over time and with proof that repayment can be made. This is how the finance can be deemed as progressive.
If you are new to L-Pesa, you may be wondering just how you can grow using this platform, especially when it comes to getting growing loans. Here are some secrets that will make the process smooth and flawless for you.
Consider Verification
As you create your L-Pesa account, you will find that you can go into the process of applying for a loan. This does not mean that loans are given to just anyone, it means that if you meet the right criteria, you can get the loan. However, you need to go through the verification process. To do this quickly and easily, you should call the L-Pesa verification center. This will save you from considerable back and forth to provide all the information that is necessary. As you speak to a member of staff on the support team, you will be able to find out all the information that you need to provide for verification with ease. This makes it possible for you to gather what you need and then get the process started.
Documentation is Key
You will be required to submit some documentation so that you can gain access to the microloan services. In many cases, the documentation that you need to submit includes identification documents, in the form of some photographic ID. For you to get the verification that is needed for your loan, this documentation needs to be genuine and original. From the information you submit, the team at L-Pesa will verify your details, and this will make it possible to reveal your loan within minutes. If you do face a problem, you may find it is because the information you submitted does not match up. For example, the name on your mobile banking account may be different from the name on your identification card.
Receiving your L-Pesa Loan
Verification and submission of the required information for L-Pesa is the first step towards getting your loan. In the formal banking system, this may take several days or sometimes more than a week to get done. With L-Pesa, and some organization on your part this can be done within minutes. Once you have gone through these preliminary processes and have been given the information required, you can then apply for a loan with ease. The application process is quick and easy. With an approved application, you will receive funds in your L-Pesa account almost instantaneously.
The Journey from 1 ÔÇô 3000
The first loan that you take from L-Pesa is normally the smallest amount, which is a total of $1. To get you into the habit of paying back a loan, you will be given a reasonable amount to pay this loan back with nominal interest. Should you pay back this loan in time, then you can borrow a higher amount, and keeping up with a repayment pattern means that thousands of dollars are within your reach. If you are serious about attaining financial freedom, the proper use of L-Pesa will ensure that you can get the money that you need to use for your own success in a short period of time.
Credit Score System
The amount that you borrow is also linked to an exclusive credit score system that has been created for L-Pesa customers. In this system, a person gets credit points with each loan repayment that is done on time, and the loans that are completed as expected. The higher your credit score, the more you are able to borrow. The credit score points can also be used to reward faithful customers.
The beauty about using L-Pesa is that you do not need to provide any collateral, which means that you are not excluded from finance if you have nothing to offer. L-Pesa services have been available in the market for more than two years. Over that period of time, there has been considerable research carried out on market trends and needs, and the results of this research have been applied to development. L-Pesa is an evolving service, always taking into consideration the needs of the market in the offering of finance that is progressive. There is a promise that this service looks to keep, and that is ensuring that all people have access to finance, no matter where they are and whatever walk of life that they are from.
The future is L-Pesa, and you need to know these secrets to make the most of the service offerings. There are no formal institutions that are able to offer similar services that are so customer oriented. L-Pesa is truly transformational and progressive.