Steve Oke Chapchap Market No Comments

Spread the love

Tips on how to use the LoanBee App
By Beth Nyaga – April 5, 2019
Tips on how to use the LoanBee App
Photo Courtesy: LoanBee

Times are hard so hard that despite having a 9.00 a.m to 5.00 p.m job some people do not know where their next meal is going to come from every other day. Then in comes the LoanBee App.

You have probably seen them spread all over the touch screens of your friends and relatives. Hey, they probably litter your screen as well.

My focus today is on the less common apps, what I call the junior entrants into the loaning business, and the intention is not to make anyone shy or spooked about using them, but to give the real picture infused with reviews of others who have tried them.

What you should know about the LoanBee App
The LoanBee app gives fast, small loans to Kenyans of between Ksh100 and Ksh40000 through their smartphones.

- -

The app takes 24 hours to process user account information, so after you apply, you will be asked to check back later.

You don’t need to have a bank account or collateral to get a loan from the Loan Bee App. You can also qualify for bigger loans if you have good repayment history.

By agreeing to use LoanBee, you authorize access to the personal information listed under their privacy policy.

This includes but not limited to SMS, call logs, your credit reference bureau data, National ID information, phone make, phone GPS coordinates, email, phone operating system, Facebook data.

Interest payable for the loans will be shown in the app.

Any other fee outside the interest fee will be notified to the app users either via the app service or SMS. The interest fee will be particular to each client

On nearing a possibility to default, LoanBee clients will be given notifications to repay.

In case a default occurs the client will be reported to Credit Reference Bureaus.

This means you won’t be in a position to get a loan from any other organizations such as banks. You will also be barred from obtaining a LoanBee from us unless you repay the loan.

How LoanBee works
Download the app on Google Play Store
Submit a loan request
Receive your loan
Repay loan and unlock larger loans

Why LoanBee?

How to Repay LoanBee loans
Go to Mpesa menu
Select Lipa Na M-Pesa
Use business number 923745 (this is Loanbee Pay Bill number )
Enter account number ( is your phone number )
Enter amount (the loan to repay)
Put in your Mpesa PIN

- -

Spread the love
Tags :