Odyssey Capital - Access Financing Instantly

 Odyssey Capital Ltd is a financial limited company registered in kenya. The mission is to avail financial products to small and medium sized enterprises and to individuals.As a potential borrower you can apply for a loan on there website or call them directly (see contacts below).

Odyssey capital and Loans Kenya logos

Products
Odyssey Capital gives a variety of financial services mostly tailor made loan packages.The main loan packages though include ;
Advance Payment Guarantee

Unsecured loan
Invoice Discounting
SME fund
Women fund
School Fee Financing

Contacts
Reach them through ;
Call;0701946405
Email:info@Odysseyafricapital.com
Website :WWW.Odysseyafricapital.com

Micro Mobile Limited - Money is mobile

Micro Mobile Limited is a Kenyan mobile solutions company created in the year 2013 with a view to providing micro credit (micro loans) and financial access solutions to clients exclusively on a mobile platform.

Micro mobile and Loans Kenya logos

Products
Currently, Micro Mobile provides three mobile solutions.
Mobi Craft-This enables clients who are members of various savings and credit cooperative societies (saccos) to easily access credit over their mobile phone handsets.
Mobi Bills - This service helps registered members of Micro Mobile .Note:Currently not operational.
platform to easily pay bills for various utilities.
Mobi Loan-This is the main product and is essentially a provision of salary advance for staff (from employers partnered with micro mobile)
over a mobile platform to maximize conviniency for both employer and employees.
How it works
An MOU(memorandum of understanding) is signed between Micro Mobile and the employer whose role thereafter is to facilitate payroll deductions for loan repayments. Employees are registered for the service on the micro mobile electronic platform (open accounts) to allow easier access the short term loans which they can draw in form of. Mpesa or Airtel money anytime, anywhere.
Credit Limit
The loan amount borrowed depends on one's pay,normally a third of the gross salary but can't exceed ksh100000.Upon successful repayment, employee's credit limit is reinstated and made available for future use.
Employers working with Micro mobile currently
Corporates-
Cellulant!,Reelforge,Vaell, East African Educational Publishers, Emobilis, Impax Technologies, Turnkey, Highlands, Isol Associates Ltd, Citywalk,Dataguard, Long View Suites, Mtech, Suraya properties, Viva Africa Consulting, Reward and Recognition, Rising star commodities Ltd, Tricom, Micro mobile, Associate consulting Africa Ltd.
Counties -
Bomet,Bungoma, Busia, Nairobi, Embu, Meru,Homabay, Kakamega, Kericho,Kisii, Kisumu, Migori, Mombasa, Nandi, Nyamira, Siaya, Trans Nzoia,Uasin Gishu,West Pokot.
Ministries -
Ministry of Education, Ministry of Agriculture Ministry of Interior(Prisons,Regular police and Administration police), Ministry of Transport, Ministry of Health, ministry of information and communication, ministry of sports, culture and arts, ministry of planning and development, ministry of industrialization, Office of the president, Office of the deputy president, ministry of land, housing and urban development,The National Treasury.
Commission -Teacher Service commission.
Contacts
10th floor,IPS Building, Kimathi Street. PO BOX 4449-00100 Nairobi, Kenya. Call Office ;0709953000, 020 5101089
Call Centre :0705550550,0724662453,0709953100

Remu,Faulu,Sumac Set To Flow Cash To SMEs

Analysis shows that Kenyans ate easily willing to take loans from micro lenders instead of borrowing from big banks!Do you agree with this analysis? Now the forefront micro financiers, Remu microfinance, Faulu DTM and Sumac DTM have started to source deep pools of cash bases to flow cash loans to SMEs come next year.

Remu will be selling shares worth sh345m by next year.
The micro lender targets a total of sh1.7bn in three years to sufficiently help small businesses grow to unimaginable levels.

Faulu, popularly known for its extremely low rates(12%) had to go for a sh.1bn loan from the universal lender, European Investment Bank.This money is set to benefit clients in small businesses.

Sumac DTM borrowed sh100m from Regmifa based in Luxembourg to add to its finance base.

Though its too risky to save with small financial institutions(the imperial bank proved this) but I think from the above big preparations its worthy trying. Mama mboga,boda boda riders,cafe owners and all small businesses can ride in this. SOURCE ;BUSINESS DAILY

Borrowers Smile As Rates Fall

In mid October this year, almost all banks in kenya but notably Equity,Standard Chartered and Barclays were sending to their customers alerting of a drastic rates hike to those already servicing loans.This followed as a result of an increase in the expenses towards government debts instruments signalled by Central Bank of Kenya(CBK).

This happened to be the big blow to the Kenyans that got the Deputy President talking about unfair the banks were on behalf of the Kenyan mwananchi.
The said rates shot to intolerable highs of 27% on average!

The good news however came knocking on the borrowers door last week after the big lenders started forwarding messages to 'loanees' informing of normal rates reinstatement.This followed as a result of a decline in treasury bills and bond yields.

If you were planning of applying for a loan now it's 'safe'The normal rates were between 16% to 22% depending on the customer's credibility.The whole situation really left many customers frustrated as reported by the Business Daily

Were you affected?

Loan maturity,what about it?

  When will this loan mature?When will my loan be fully paid?How long will it take to clear my loan in full?Credit facilities differ as per the purpose or financier in question.Lenders giving out  loans for business purposes [mkopo wa biashara] for example business startup capital financing do offer longer repayment periods than their counterparts offering credit services for minor emergencies. Financiers like commercial banks may give less loan repayment periods than saccos [mkopo wa chama] for the same amount of loan.
  Sounds so obvious that it worthless posting but wait.As Loans Kenya,we have a bank of questions from our blog viewers triggering concern.
"Are long term loans profitable?
How to apply for shot term loans?Whats the loan repayment duration?How long will it take to repay the loan? "

  REPAYMENT DURATION
All legitimate financiers in kenya are regulated by the Central Bank of Kenya.The minimum repayment duration is around one month and the maximum is close to six years[72 months].Only few extreme cases can go up to 20 years.The time attached to a loan facility depends some of the following;
AMOUNT -The higher the amount of money borrowed the longer is the repayment duration and the lower the amount borrowed the shorter is the repayment duration.
CREDIT REPORT -The better the credit report the longer the loan repayment period and the poor the credit report the shorter the loan repayment period.
LENDER -Though within the recommended range of time some lenders can decide to allocate longer repayment periods to a loan amount than other lenders.
Now you know.

SHORT TERM LOANS
They are quick to clear.They are characterised by small loan amounts.They attract smaller loan repayment installments.They have short repayment durations.

LONG TERM LOANS
They are characterised by high loan amounts.They attract longer loan repayment periods thereby making the repayment instalments small as the y are spread over longer duration.Business loans can give borrowers ample time to work hard on their businesses ploughing back profits to the business while paying little instalments  to the financier.

CONCLUSION.
Its simple up to the borrower and the lender to settle for an agreed time period.Luckily nowadays there are online loan calculators on the respective lender websites.Make use of the same for quick results.Thanks

Mobile loans apps in Kenya

  Mobile money is now an obvious thing in the finance industry in kenya since the introduction of Safaricom's M-Pesa,Bharti's Airtel money,Essar's Yu cash and Telkom's orange money some years back.Lenders therefore had no option but jumping on board through business partnerships with these giants in the telecommunication  industry resulting into the development of loan app[softwares].

Learn how to apply for a mobile loan in kenya.

  Putting aside banking apps for example KCB
and I&M banking apps'today we are going to highlight the best 'trust based ' loan apps in kenya which are up and running already benefiting clients during times of financial emergencies.These apps are available on GOOGLE PLAY STORE.Please read the descriptions of each app, understand before proceeding to download it and use it.

 See emergency loan givers in kenya.

SAIDA
Thanks to co-founders Keneth Ngetha and Kyale Mwendwa for the big inovation.The loans are going to be offered by Saida Financial Services.The loans are available to safaricom and aitel subscribers only.Currently close to 50000 clients are using Saida loan app.
 STEPS
-Download the app and instal it to your mobile phone.
-Fill in the required details; name ,phone number, email address etc
-Wait for the feedback and you are done!
If you are approved for a given amount ,you do so immediately and the money will be deposited into your m-pesa or airtel money account.Repayment depends on the amount borrowed and is payed through your m-pesa or airtel money.

MKOPO RAHISI[KENYA]
There are two apps,one intended for Kenyans and one for Tanzanians.Choose the one for kenya [mkopo rahisi kenya].Mkopo rahisi is available to safaricom subscribers only.Loans are offered by Inventure.Currently mkopo rahisi has close to 100000 users.
STEPS
-Download the app and instal it to your mobile phone.
-Sign in using your facebook or google account.
-Fill in a few details ars required; employment status,salary etc.
-Wait for the feedback and that is it!
If you get approved for acertain amount of money the same will be credited to your m-pesa account.Repayment depends onthe amount borrowed and its done through m-pesa.
UPDATE:Read now Mkopo Rahisi is now Tala kenya

MICROMOBILE
Micromobile loans are offered by MICRO MOBILE LIMITED.The loans are available to safaricom subscribers only.Micromobile have close to 5000 users.
STEPS
-Download the app and instal it to your phone.
Create your micromobile account.
-Request a mobiloan and that is it.
Update ;Currently, this app is not working. It will be okay in the near future.

BRANCH INTERNATIONAL
Financial access anytime, anywhere. Branch International is the latest fast way to get credit in Kenya. The loan is available to safaricom subscribers. Currently, more than 10000 people are using this app.
STEPS
Download the app.
Sign in using your Facebook account.
Now apply for a loan up to a maximum of ksh50000, which upon approval the money will be deposited in your M pesa account.

Loans Kenya readers are now updated on this.What did we leave out +Chris webber  +Mercy Orangi +yusuf omar

The Importance of Business Loan Repayment Insurance

If you are an entrepreneur, you must have a thorough insight about business loans and various loan repayment insurance services that are present in the country. One must never underestimate or undermine the importance of business loans. Financial risks can occur virtually any time in a corporate environment. With the aid of these loans, you will be able to cover the expenses incurred. All loans must be paid in an appropriate manner, the failure of which might attract heavy penalties. Loan repayment insurance services will ensure that all your business loans are recompensed in a fitting conduct!

Business Loan Repayment Insurance

 You will have to bear a factor in mind - opt for business loan from the right financial institution. Veracious agencies are in existence, and they do not incorporate additional hidden clauses into the terms and conditions. Insurance agencies exercise discretion when it comes to providing repayment insurance. Usually loaning agencies and insurance companies work in close association. It is wiser to spend some time to learn the existing market scenario before opting for a business loan and a suitable loan repayment insurance provider! Always uphold the integrity of the company along with the employees while seeking business loans.
Never hold the notion that loaning agencies are eagerly awaiting your approach. They will assess the situation and can disregard your application for unknown reasons - if they see you and the company as a liability. It is quite natural to cause financial errors - it is only through these mistakes that a budding entrepreneur will be able to judge his capabilities. If the fate was brought about by your wrongdoings (insurance companies term it as deliberate acts), then they have the right to disdain your request. A plethora of these so-called "deliberate acts" will be usually listed on the official website of the insurance agency.

the insurance agency

Business-loan repayment insurance companies will also consider the age of the entrepreneur. In fact, the same varies greatly among agencies. Never consider these insurance policies as an additional financial overhead! The insurance companies formulate these policies only to help you out in a rainy day! One of the best manners is to consult a financial broker. These personnel will be highly experienced in the niche and will guide you to take the right decisions. The fiscal performance of your company must be consistent - the insurance agency has the right to ask for personal guarantees if the functioning is disproportionate.