Places To Find Quick And Instant Loans With No Securities To Boost Your Business | Vosena News

Places To Find Quick And Instant Loans With No Securities To Boost Your Business

Starting a business and lacking the capital to boost your stock financially does not mean your business is at a downfall. Every business has its own challenges from management which can lead to poor management of business finances to lack of customers for you to make even a single sale.

The reason why I researched for the best places to find quick and instant loans with no securities to boost your business is not only to help business find financial support to boost their stock but also other individuals who have business ideas and lack finance to implement their ideas to find these loans that could help them put their entrepreneurial ideas into live reality.

Most of these loans are online and don’t require securities or manually submitting your documents. The most important thing I can’t forget to mention is that the loans are disbursed instantly on your mobile money number when you apply.

These are the online places to find your desired loan;

CBA Mshwari.

Being offered by the largest telecommunication company in East Africa Safaricom in conjunction with the Central Bank of Africa, you can get an instant loan of Kes 100 to Kes 100,000 depending on how you transact and save using your Safaricom line.

Mshwari charges a rate of 7.5% per month on each loan it gives its customer.

How to apply:

All you need to apply for an Mshwari loan is just your Safaricom line. If you don’t have a Safaricom line then register one in a nearest Safaricom or M-pesa agent near you.

Steps to follow:

  • In your phone click on Safaricom or SIM toolkit, the name varies with depending on the phone.
  • Choose the option M-PESA.
  • Scroll down and choose the option Loans and Savings.
  • Go to Mshwari and choose the option Loan.
  • When you click on the option Loan, you will be provided with four other options; Request Loan, Pay Loan, Check Loan Limit and Loan Balance.
  • I will recommend you to first choose the Check Loan Limit Option to see how much money you are eligible to borrow, the service will cost you kes 1.
  • Knowing the amount you are eligible to borrow, you can now choose the first option Request Loan.
  • Once the loan is approved, you will directly receive it in your M-pesa account.
  • Withdraw the loan in any M-pesa agent near you.

Branch Loan App.

This is another good loan platform to instantly get a loan within seconds. I personally tried this app and it is working well. It has 24/7 customer incase anything isn’t working the right way.

Branch app loan does not require you to save with them to give you a loan; all you need is to have the app. To get higher amount of loans you must pay your previous loan. For example if you were given a kes 2,000 loan, you have to pay it on time so as to get a chance of getting a higher loan of kes 3,152.

You can repay the amount in four weekly installments or repay after a month.

Branch charges a rate of 12.7% per month on each loan it gives its customer.

How to apply:

As I said earlier, with Branch you don’t need to save with them anything to get the loan. You need to have the app and connect your number, that’s all.

Steps to follow:

  • Download the Branch Loan App on Google Play Store.
  • Submit your credentials; your full names, date of birth, identification number, your phone number and your desired pin number for security reasons.
  • At the far left corner, click on menu.
  • Choose My Loan option to see how much you can be allowed to borrow; for first timers you are allowed only to apply a loan of kes 1,000.
  • Click on your desired loan amount, then confirm and booom the money is in your M-pesa account.

Read Also: How To Set Up A Successful Business

KCB M-pesa.

KCB M-pesa is a loan service provided by Kenya Commercial Bank (KCB) through Safariom’s M-pesa. They charge an approximate rate of 3.9% on a loan they disburse to a customer. KCB M-pesa and Mshwari are two different loan services provided by two different banks don’t mistake one for another.

How to apply:

Applying for KCB M-pesa loan requires a registered Safaricom line only. You don’t need to own a KCB bank account.

Steps to follow:

  • On your phone click on Safaricom or SIM toolkit.
  • Choose the option M-PESA.
  • Scroll down and choose the option Loans and Savings.
  • Go to KCB M-PESA and choose the option Loan.
  • When you click on the option Loan, you will be provided with three other options; Request Loan, Pay Loan and Check Loan Limit.
  • Choose the Check Loan Limit Option to see how much money you are eligible to borrow.
  • Knowing the amount you are eligible to borrow, you can now choose the first option Request Loan.
  • Once the loan is approved, you will directly receive it in your M-pesa account.
  • Withdraw the loan in any M-pesa agent near you.

Timiza Loan App.

Timiza loan app is provided by Barclays bank. All you need is have the app and access loans.

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How to apply:

Download the app from Google play store and you are good to go.

Steps to follow:

  • After downloading the app from Google Play Store, just fill the forms that require you to submit your credentials.
  • Go to My Loans and choose the amount of loan you want then apply.
  • The money will be sent either to your account or your mobile money number.

Read More: Great Business Ideas That Require Low Capital To Start

Eazzy Banking App.

Eazzy app is a multipurpose service app operated by Equity bank. This app is available in three countries; Kenya, Rwanda and Uganda. This app can be used for transferring your money to other bank accounts, withdraw to your number and much more.

How to apply:

This is just like opening a bank account with Equity bank, it is convenient. All you need is your credentials and the app.

Steps to follow:

  • Go to Google play store and download the Eazzy banking app.
  • Submit your credentials for verification.
  • You will receive a confirmation message to activate your account.
  • Verify your account then go to main menu.
  • Click on Loans then apply.
  • When the loan approval process is done, you will receive the money in your account then transfer it to your mobile number.

Conclusion.

As you are intending to boost your business, use loan lenders with minimum rates so as you don’t pay a lot in return. Also remember to pay your loans in time so as to avoid a bad credit reputation and your names being listed in CRB.

Brandon Vosenah

Brandon Vosenah

I have a great passion in writing. I get you all informed on emerging issues, a taste of different cultures and everything from news.
Brandon Vosenah
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