Frequently Asked Questions About Biz Loans By Jiinue!
We’re opening up a new round of small business loans with our partner Jiinue. Here are all the frequently asked questions by MESHERS.
Can’t find your answer? Ask it in the comments below or message the MESH support team on WhatsApp +254 011 479 9684
THE BASICS
1.What is Jiinue?
Jiinue (also known as Jiinue Growth Program or JGP) iko designed by 4G Capital ku-reduce the funding gap for Kenyans wako na biz ndogo. 🚀
2.What should the loans be used for?
Biz loans by Jiinue zinafaa kutumiwa ku-grow biz yako. Hii sio personal loan for personal use.
3.What is the loan limit?
Loans ziko available between Ksh 5,000 and KSh 100,000
4.What is the interest rate?
0.83% per month
5.What is the loan duration?
Unaweza kuchukua loan for a period of 2 or 3 months
6.Can I apply for multiple loans at the same time?
No. Unafaa kulipa one loan before uchukue ingine.
7.Is there a minimum income requirement?
No. Hakuna minimum income unafaa kuwa nayo ku-apply for the loan.
8.Who can apply for Jiinue?
⦁Men and Women between ages 18 and 35 years.
⦁Women above 35yrs.
9.Who can NOT apply for Jiinue?
⦁Men over 35 years old
⦁4G Capital commercial customers
⦁Business under ownership by state or parastatal actors
⦁MSPARK defaulters
Business zina deal in alcohol (wines and spirit shops), tobacco & drug-related businesses, weapons manufacture & war-related activities, gambling/betting, or sex-related industries
THE APPLICATION PROCESS
10.How do I apply?
Cheki MESH app kwa opportunities section kwa navigation bar hapo chini kwa screen yako ya phone. Enda kwa opportunity ya Jiinue. Uta-get application form hapo, click apply at the top.
11.What additional information will you need from me?
Ni lazima uweze ku-share MPESA statement yako ya 6-months. Hii itatumiwa ku-calculate kama unaweza afford the loan.
12.Jiinue wata-visit business?
Yes. Once umekua prequalified by MESH, someone from the Jiinue team ata visit business yako within 2 weeks. Watakuuliza a few questions about biz yako. Afterwards, uki-qualify, watakutumia USSD code kuendelea na application yako.
13.Loan ita-take how long to be processed?
Ita-take up to 2 weeks for the Jiinue team ku-visit business yako for verification checks. Then after that within 3 business days from the point of application by the customer and if the customer details verification process haina issues, na ume-pick calls Jiinue team wakipiga.
14.What is a reference/referee/alternative?
Ni mtu anakujua na anaweza kuwa contacted in case the borrower hapatikani kwa simu (husband, wife, relative, mtu anakujua vizuri).
15.Why do I need to give a reference?
Jiinue huchukua details za referee/alternative person ku:
•reach out kama Jiinue hawakupati for more than 5 days.
•confirm uko na biz and you are who you say you are.
16.Is airtime deducted to apply for the loan via USSD and short code?
No. The USSD is toll-free.
17.I got to the end of the USSD journey and did not receive any SMS. What do I do?
Most likely ume-block promotional/marketing messages kwa phone yako. Communications are done via short code 21183. Dial 456955*1# ku-unblock promotional messages. Then piga hiyo USSD code tena, the short code message itakam.
18.Why is my application rejected?
Kuna reasons kadhaa zinaweza fanya application ikue rejected. Either, MPESA statement yako haiko poa, business yako hajakuwa active for 3 months or haujakuwa active on MESH for atleast 6 months. In any case, Jiinue watakuambia mbona hauja-qualify.
ABOUT REPAYMENTS
19.How do I make repayments?
⦁LIPA NA MPESA Pay-bill: 4027157. Account number unaweka your phone number.
⦁Dial *376#, select repay loan.
20.When do I make my payments?
After ume-get loan yako, Jiinue watakuambia repayment yako ni when. Unaweza make monthly/daily installments through USSD or Paybill. Unafaa ku-clear balance yako before or by the due date.
21.What happens to a customer akishindwa kulipa?
The Jiinue lending team reach out to customer via phone calls and SMS to ku-collect the outstanding amount. Kama una-go through financial difficulties, Jiinue wata offer a payment plan.
22.Naweza change vile nitalipa loan if I’m unable to pay on time?
