FAQs on E-loans

To improve your score, ensure you bank all the money you sold in a day into your account and withdraw when you need to buy stock. Furthermore, ensure you pay any loans you have with us on time as scheduled.

No. One cannot borrow more than one MCo-op Cash loan type but you can top-up the existing loan.

You can only have one Biashara Plus loan at a time.

To repay the loan, the following options are available:
a). The client can initiate a repayment through Mco-op cash against their Bank account or Mco-op cash wallet account.
b). Automatic recovery by the system once the loan falls due.

The bank normally sends out messages to customers who are eligible requesting them to try and apply for the facility through MCo-op Cash.

You will get a message notification advising you why the request was not successful. You can visit your nearest branch for more clarifications.

We look at account operation and loan repayment to give each customer a score.

The facility will attract a processing fee of 3% of the limit sought and excise duty of 10% on the processing fee and an advance commission of 1.16% per month.

The maximum limit is KES 1M and your qualification limit depends on how much you bank.

1. The customer must have a Business account with us.

2. The customer must have an account linked to MCo-op Cash.

3. The customer should not have a non-performing loan.

4. Customer should not be blacklisted in any of the bank’s blacklists.

5. The customer’s account with us should be at least 6 months old.

6. The applicant should be aged between 18 – 65 years.

7. The client’s account(s) should not be overdrawn beyond the approved limit.

8. The client should not have any arrears at the point of application.

9. The customer should not have a blocked amount in their account(s).

10. The customer should not have any of their loans with us written off.

Business customers operating their business account(s) with us as individuals and meet the qualification criteria.

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