Home Finance 7 Mobile Lenders That Require Payment Before Disbursing Loans

7 Mobile Lenders That Require Payment Before Disbursing Loans

by Von Umpiantu

Mobile lending seems to be a rewarding business venture owing to a large number of new loan providers popping up each day offering the same services but under different conditions.

Such conditions may at times be dependent on the provider’s capability in terms of experience, capital and resources available at their disposal. It is through these that differences may arise in terms of eligibility, app development and loan amounts offered by each individual lender.

Below we look at 7 mobile lenders who require you to pay a certain fee prior to accessing their loan services.

DISCLAIMER: Some of these lenders may or may not be genuine. Payment of such fees is left entirely at the user’s own discretion. You must, therefore, exercise due diligence by doing enough research prior to making any payments.

1. ZIDISHA ( ONE-TIME MEMBERSHIP FEE OF KES 1000).

– Zidisha is an international lending community that does not require any collateral assets, bank account, guarantors or salaried job in order to access their loans.

– Loans are funded by other Zidisha members whereby one can freely choose their weekly repayment schedules.

– Zidisha loans do not carry any interest but borrowers pay a service fee of 5% ( to cover the cost of transferring & administering the loan ) and also 5%-30% credit risk ( to reimburse lenders in case of default )

– The app can be downloaded via https://bit.ly/2IBVwvQ

2. NGUZO ( REGISTRATION FEE OF KES 250 )

– This is a loan app released on Sep 21, 2017, by Nguzo Ventures.

– It currently has 100,000+ downloads at the Google Playstore.

– In order to access a loan, one has to pay KES 250 to PAYBILL 632263 and input phone number as the ACCOUNT NO.

– The app can be downloaded via https://google-url.com/v27jB

3. KAVA ( IDENTITY CHECK FEE OF KES 10 )

– This is a loan app released on Dec 18, 2017 by Kava.

– It currently has 50,000+ downloads at the Google Playstore.

– In order to access a loan, one has to pay KES 10 to PAYBILL 580500 and input phone number as the ACCOUNT NO.

– The app can be downloaded via https://google-url.com/fsuqo

4. KUA ( REGISTRATION FEE OF KES 250 )

– This is a loan app released on Jun 26, 2018, by

– It currently has 100,000+ downloads at the Google Playstore.

– In order to access a loan, one has to pay KES 250 to PAYBILL 780785 and input phone number as the ACCOUNT NO.

– The app can be downloaded via https://google-url.com/B8ugb

5. UTUNZI ( REGISTRATION & CRB FEES OF KES 400 )

– This is a loan app released on Jan 9, 2019 by Utunzi Ventures

– It currently has 100,000+ downloads at the Google Playstore.

– In order to access a loan, one has to pay KES 400 to PAYBILL 800950 and input phone number as the ACCOUNT NO.

– The app can be downloaded via https://google-url.com/hXxVx

6. MOKASH ( REGISTRATION FEE OF KES 300 )

– This is a loan app released on Sep 18, 2018, by Mokash Ventures

– It currently has 100,000+ downloads at the Google Playstore.

– In order to access a loan, one has to pay KES 300 to PAYBILL 155221 and input phone number as the ACCOUNT NO.

– The app can be downloaded via https://google-url.com/AS14d

7. OKOA MIA ( ACCEPTANCE FEE OF KES 5- KES 45 DEPENDING ON DESIRED LOAN AMOUNT )

– This is a USSD based loan service provided by OkoaMia.

– It offers loan amounts between KES100-900 at a service rate of 10%

– To access the loan, dial *628# and follow the prompts.

– Before disbursement of the loan, one has to pay the related acceptance fees to PAYBILL 519608 and input ID number as the ACCOUNT NO .depending on the desired loan amounts. I.e

  • KES 100  ( acceptance fee of KES 5 )
  • KES 200  ( acceptance fee of KES 10 )
  • KES 300  ( acceptance fee of KES 15 )
  • KES 400  ( acceptance fee of KES 20 )
  • KES 500  ( acceptance fee of KES 25 )
  • KES 600  ( acceptance fee of KES 30 )
  • KES 700  ( acceptance fee of KES 35 )
  • KES 800  ( acceptance fee of KES 40 )
  • KES 900  ( acceptance fee of KES 45 )

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