3 Reasons to Take Out Fuliza Instead of Bank Loans in Kenya

Borrowing money or taking a loan is not an easy task it requires you to go through a lengthy process. You need to find a lender and make an agreement and then if lender demands than you need to give security. That is where Fuliza Loans comes into play where you get the opportunity to transact M-pesa even if you do not have sufficient balance. 

Although there are a lot of stigmas attached to taking loans, you need to understand it is not the loan that is bad it is you who do not know how to use it and when to take it. 

Fuliza loans allow you to fund day-to-day expense to fund your business, here is how you can use it to fund your cash requirements. 

How Fuliza loans works?

Fuliza Loans give you your opportunity to transact M-Pesa even if you do not have a sufficient amount. When you take a fuliza loan you get an overdraft that will make your M-Pesa account negative and whenever you recharge your account the amount will be deducted depending on the overdraft amount that includes the interest too. 

3 Reason to Use Fuliza Loans

• Pay Bills Quickly

If you are running a business in Kenya, you might be in the daily needs of credits. You need to pay bills for which you need cash flow in the system. For your daily needs of credit pay bills, you can use fuliza loans in case you are short on funds, and the good part about them is you can get it quickly. 

• Compatible with Your Lifestyle

Getting a small loan is not easy as not many lenders provide such services and using a credit card charge you hefty interest rates that can go up to 35% to 45%. It is better to go with Fuliza loan as it suits our lifestyle requirement of small cash for buying groceries or other daily items and the interest rate is comparatively less than what credit card companies charge.

• Get Fast Funds During Emergency

In times of emergency, you need money urgently. The other processes of taking loans are quite lengthy and you need to provide security too. For your urgent need that includes paying medical bills, you can use a Fuliza Loan, as with it you can pay the entire bill on instantly and do not have to worry about giving any sort of security.