The first thing that you will notice once you meet an L-Pesa customer is the joy that they have following use of the service. If you have never used this service, or met someone who has, you may be sceptical about exactly how it works. Well, there are several reasons that you should trust L-Pesa and here are some that you should be aware of.
- L-Pesa will Trust You First
L-Pesa will offer you a loan that is totally unsecured, which is a feature that you will not find with many lenders. This means that L-Pesa starts off their relationship based fully on trust, trusting that you will pay back your loan on time. Once you do make a repayment as expected, you are rewarded by being given the chance to borrow even more money. This way, you can start off with a loan of $5 and over time, receive a loan that gets up to $3000.
- No Hidden Charges
When you are using L-Pesa for a microloan service, you will find that there are no hidden charges to worry about. You will know what your interest rate is before you get started, and also be given all information on any additional charges that you have to be aware of.
- Quick Application Process
In a traditional application process for financing, you will find that there are numerous steps which you need to follow, which often take weeks. If you do not qualify, you may never know the reason why. With L-Pesa, this is not the case. Applications can be completed within minutes and if there are any issues, you are given the chance to sort them out. Furthermore, there is no need for extensive paperwork. All you need is your mobile phone and national identification to get started with the loan application process.
- Excellent Customer Service
L-Pesa offers microloan services primarily on your mobile phone banking, but that does not mean that you will not get the help you need from customer support staff. All you need to do is inbox your number on Facebook massager and you will speak to someone who can clarify any issues that you may be dealing with.
- It is for Everyone
Anyone can use L-Pesa as long as they are above 18 and have mobile banking. It can provide loans for individuals, as well as for groups who are looking at getting some funds for activities. There are also special products on this platform that have been created for farmers which enable them to buy seeds and improve output. Microloans have much more meaning than just cash with L-Pesa services available.
While many other institutions will insist that you must give them physical collateral, with L-Pesa all you need is your mobile banking account. It needs to have been active or had some transactions over six months so that you can qualify for a loan. This is a service that has been designed with the customer in mind.