The LoanBee app gives fast, small loans to Kenyans of between Ksh100 and Ksh40000 through their smartphones.
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 app takes 24 hours to process user account information, so after you apply, you will be asked to check back later.
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 App Works
- Download the app on Google Play Store
- Submit a loan request
- Receive your loan
- Repay loan and unlock larger loans
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