In this article, we provide a step-by-step guide on how to access Safaricom Mpesa business loans in Kenya.
Safaricom is the leading telecommunication company in Kenya. It has been in existence for more than 20 years and it has had tremendous success since it was founded.
MPesa business loan is a financial product offered to Lipa na Mpesa merchants in Kenya. It is a partnership between a fintech company, Asante, and Safaricom.
- The loan amount ranges between Kshs 100- 200,000.
- The loan limit is based on your Lipa na Mpesa till activity. The more you use the till by receiving Mpesa payments from customers the higher the chances of increasing the loan limit.
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 Operator PIN & ID.
How to Access Mpesa Business Loans
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 Operator ID and PIN.
Eligibility
- All Lipa na Mpesa Buy Goods Merchants who settle funds collected in their Mpesa tills to their Mpesa account and have activated the business till functionality.
- Till must have been active on Lipa na Mpesa for a minimum of 3 months (90 days).
- Merchants will use their nominated numbers to access the service.
- A merchant can only apply for one loan or one till per store at a time.
- Only active tills are eligible.
- Once approved, the loan will be disbursed immediately to your mpesa business till account.
Benefits of Mpesa Business Loan
The business loan has the following benefits;
- Keeping merchants’ businesses open and afloat.
- Quick and easy access to affordable credit to complete transactions.
- Growth of merchant networks.
- Seamless payments among merchants.
