May 10, 2013

Paddy Micro-Investments launches Mobile Money loan service: Mobikopa

Paddy Microinvestments has introduced a money-lending service dubbed Mobikopa, which enhances the ease and convenience of acquiring affordable loans countrywide. Through this innovation, loan applicants can now apply online and receive the loans via mobile money.

The company has been offering Microcredit services in and around Nairobi, and Mobikopa has recently been launched in order to extend the services countrywide. 

To qualify for the loan, the applicant simply needs to be over 18 years of age, and either in active business or employed. One is then required to fill in and submit the Mobikopa loan application form that can be found at the address provided below, and after a quick verification of identity, particulars and viability, the cash is instantly sent to the applicant’s mobile phone.

Paddy Microinvestments has incorporated social media as one of theplatforms used in the operations of Mobikopa. The loan application can be done directly from the Paddy Micro-Investmets Facebookpage.

The loan is offered at an interest rate of 20%.  For Employed people, the payback period is 2 times a month, that is 14 days from the days they got the loan and the next 14 days after their first repayment. For people who have a business, the payback period is on a weekly basis.