We are regretfully unable to guarantee funding of all loan applications. Lenders highly value the chance to communicate directly with entrepreneurs whose loans they have funded or are considering funding, and entrepreneurs are encouraged to post comments in the forum as often as possible. and Privacy Policy. Alright? As a result, most Zidisha entrepreneurs’ incomes are erratic and vulnerable. The Customer will access the funds by withdrawing from Timiza to M-PESA • To grow your loan limit: o Increase activity on your TIMIZA Account by transacting on other services offered on Timiza. $17,199,404, Total Members
Lenders choose to fund loans for various reasons. Esther was lent $150 to expand her grocery shop. How does Zidisha protect the rights of its clients?
Unfortunately, you still have to complete Your Zidisha profile by feeding in other information. Learn more. The philanthropic organization’s mission is to empower ordinary people launch/expand business by providing short-term funding.
Entrepreneurs who apply to join Zidisha must provide their precise residential address, telephone number, and national identity number before we allow them to post a loan application. Therefore, the app serves as I know someone who would like a Zidisha loan, but does not use the internet or smartphones. How can I get an update? She hires her first employee. Entrepreneurs pay a 10% service fee on each loan they take out through Zidisha in order to cover the money transfer and administrative costs incurred as a result of their loan. $17,199,404, Total Members While other micro finance services charge borrowers interest rates upwards of 40% or more,their direct peer-to-peer micro lending model reduces the cost of Zidisha loans to just a fraction of this. You are responsible for managing your finances in a way that ensures you will be able to pay loan installments in full on the dates they are due. Zidisha members have raised loans for business growth capital, professional tools, university tuition, home improvements, health care and more. TSC gives new methods on how to access services: TSC News... Education Ministry releases free education funds to schools; Here is the... TSC response to delayed posting letters for teachers. You can download and use it to log into your Zidisha personal account on the web instead of opening the browser and having to type the full URL.
They can be adjusted or canceled at any time. Zidisha Loan App Zidisha started as a not-for-profit peer-to-peer credit platform. We do our best to prevent repayment problems in the first place by making sure that credit amounts are commensurate with entrepreneurs' demonstrated credit-worthiness. The levying of the membership cash is also controversial though some borrowers have reported getting bigger loans afterward and seem pretty satisfied. Most often, lenders wish to help entrepreneurs succeed in growing their businesses. $50 funds $750 worth of loan projects in five years! At the same time, we will treat all clients regardless of repayment status with courtesy and respect, and will not deprive them of their basic means of livelihood in order to repay a loan. and Privacy Policy. Zidisha is not a bank or credit bureau, does not offer any guarantee of the accuracy of information presented by entrepreneurs, and does not conduct any assessment of the incomes, debt levels, or credit-worthiness of entrepreneurs. As we are not always able to guarantee immediate disbursement, we do not recommend using Zidisha for time-sensitive emergency loans. We will provide every client with a channel of communications through which they can give feedback on service quality, and will do our utmost to respond timely and effectively to any client complaints. We will provide all applicants and clients with complete and understandable information regarding the cost of our loans and terms of repayment. How is my on-time repayment score calculated? Members who choose this option pay a one-time fee and may then raise loans at an increased credit limit. After that, the amounts you can borrow will increase with each loan that you repay on time, up to a maximum of $10,000 per loan.
Do Zidisha entrepreneurs really interact with lenders directly?
How is Zidisha able to work without local intermediaries?