Safaricom has launched a new SME loan feature tailored for small and medium-sized enterprises (SMEs) called “Mkopo wa Pochi”. This service is designed to address the economic needs of SMEs by offering a straightforward and accessible loan option through the M-Pesa platform.
Key Features of Safaricom’s New SME Loan Feature
Separation of Funds
Mkopo wa Pochi allows business owners to separate their funds from their business funds on their M-Pesa line. This feature simplifies financial management and ensures that business transactions are distinct from personal ones.
Loan Accessibility:
SMEs can easily access loans by signing up for the Mkopo wa Pochi service via the M-Pesa platform. Once signed up, businesses can receive credit assessments and qualify for loans based on their transaction history and other financial metrics.
Security and Control
The service provides enhanced security features, such as preventing unauthorized reversals of payments, which has been a common issue for small businesses. Additionally, phone numbers are not displayed in M-Pesa messages, protecting the business’s and its customers’ privacy.
Financial Tracking
Business owners using Mkopo wa Pochi can access mini statements and detailed transaction histories, helping them to keep accurate records and make informed financial decisions.
Benefits of Safaricoms loan feature for SMEs
Improved Cash Flow Management: Mkopo wa Pochi helps SMEs manage their cash flow more effectively by providing a clear separation of business and personal funds.
Increased Loan Access With streamlined access to loans, SMEs can secure the necessary funding to support their growth and operational needs.
Enhanced Security: The security features of Mkopo wa Pochi protect SMEs from fraudulent activities and ensure that their financial transactions are secure.
How to Sign Up
SMEs can sign up for Mkopo wa Pochi by dialing *334# on their M-Pesa line and selecting the Pochi la Biashara option.
This simple process enables businesses to quickly start managing their business funds separately and access the benefits of the loan service.
Safaricom’s introduction of Mkopo wa Pochi marks a significant step towards supporting the financial needs of SMEs in Kenya, providing them with the tools and resources needed to thrive in the digital economy
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