What is L-Pesa?

L-Pesa is the only provider of microloans to offer progressive financial solutions on mobile banking platforms. This means that anyone with a mobile device can open an L-Pesa account and then apply for a loan.

What types of loans can one apply for?

L-Pesa offers two primary microloan services:

1. An individual loan, where a single person can apply for a small loan starting at $1. By maintaining an excellent payment record over time, this same individual can eventually borrow up to $3000.

2. A group loan, where up to five people can apply together for a loan of up to $1000 to start a business. Again, once paid back in full and on time, it is possible to borrow even more.

How do I get a loan with L-Pesa?

Easily. Simply register your phone number with L-Pesa in order to open an account. Once complete, you can apply for your loan. After a quick evaluation, youÔÇÖll (fingers-crossed) be approved. ┬áOnce approved, you will be able to receive funds in your mobile banking account within minutes.

What could prevent my loan from getting approved?

The first culprit: providing the wrong information. When registering your account with L-Pesa, list your name and number just as they appear on your ID. The second culprit: your mobile banking account has not existed for at least six months. Furthermore, you should have done no less than ten transactions within the same period.

How can I get bigger loans with L-Pesa?

Maintain a good credit score. L-Pesa has a unique credit score system where you are scored based on your ability to make the payments as expected, when expected. Each time your credit score goes up, you will be able to borrow more money.

How does L-Pesa assist me in paying back the loan?

First, you will find that the repayment period is spread over several weeks so that you can make small and manageable payments. Then, you are offered an incentive in the form of the credit score system. In addition, each week, you will receive a text message that reminds you to pay your loan back on time. If you do not pay your loan back at all, you may need to pay a fine to get access to more funds.

Sign up here to learn more: https://l-pesa.com