Safaricom has partnered with a Financial Service Provider to offer a credit facility between Kshs 5,000 to 150,000 for their Lipa Na M-PESA Buy Goods Partners.

Lipa Na M-PESA Buy Goods Partners will be able to access credit for:

• Sales expansion
• Stock financing
• Funds for business operations

Lipa Na M-PESA Buy Goods Merchants who settle funds collected in their M-PESA tills to their M-PESA account.

Safaricom believes that each merchant has unique needs and Setting Loan limit is based on their Lipa Na M-PESA Till activity.

• The more you use the till by receiving M-PESA payments from customers the higher the chances of increasing the Loan Limit.
• You must have been an active Lipa Na M-PESA Merchant for at least 3 months.

Dial *234*4# > select M-PESA Bloom>enter Store Number >accept terms and conditions to opt into the M-PESA BloomService.

Dial *234*4# >Select M-PESA Bloom> then select Check Loan Limit.

By monitoring your monthly Lipa Na M-PESA Till activity we will be able to establish how much you qualify for.

You need to actively trade on your M-PESA Till by receiving M-PESA payments for payment of goods and services.

Dial *234*4# > select M-PESA Bloom>then select Request Loan

• 7 days Loan will be charged 2% of the total value of the amount requested.
• 30 days Loan will be charged 7% of the total value of the amount requested

You will receive funding for your business shortly after making the Loan request. The funds will be applied to your Store M-PESA/Working account.

You will access the funds by withdrawing using your nominated number.

Dial *234*4# select Withdraw Cash to my Number

YES;

• If the Loan amount requested is higher than your Loan Limit. The Loan request MUST be made within your Loan Limit.
• If you have been blacklisted by the Credit Reference Bureau.
• If you have an existing Loan. You will be required to fully repay for an existing loan before requesting for another. You can only request one Loan with one Financier at a time.

Dial *234*4# >Select M-PESA Bloom> select Repay Loan > then select;

1. Partial Settlement – you can pay in installments before the Loan due date.
2. Full Settlement – you can pay the entire Loan amount at once.

A loan will be rolled over twice before you are reported to the Credit Reference Bureau. Defaulters will be reported after the 2nd roll over period elapses.1.e. after 14^st day for the 7 day Loan, after 37^th day for the 30day loan.

After the rollover period elapses a weekly default fee of 3.5% on outstanding balance will be applied.

7 days loan

• There will be a roll over fee of 4.75% on the outstanding Loan balance.
  • Number of allowable rollovers on 7 day Bloom loan will be 1 for a maximum period of 7 days, before you are reported to the Credit Reference Bureau (CRB) after the 14^{th day}
  • A weekly default fee of 3.5% on outstanding balance will be applied after the 14^th day.

30 days loan

• There is a rollover fee of 5.5% on the outstanding Loan balance.
  • Number of allowable rollovers on 30 day Bloom loan will be 1 for a maximum period of 7 days, before you are reported to the Credit Reference Bureau (CRB) after the 37^th day.
  • A weekly default fee of 3.5% on outstanding balance will be applied after the 37^th day.