"The member qualifies. The money is not there."
A bank credit line tops up your lending pool.
QuickLoan+ connects your SACCO to a bank credit line, so members keep borrowing on their phones.
Licensed by the Central Bank of Kenya as a Payment Service Provider, for payment gateway services to cooperative societies
Example only. Your limit is set by the banking partner after they review your books.
"The member qualifies. The money is not there."
A bank credit line tops up your lending pool.
"When we cannot lend, members borrow elsewhere."
Members get short-term loans on their phones, from you.
"We spend all week approving a handful of loans."
Applications, disbursement and repayment run on one system.
We do the heavy lifting with the bank while you continue looking after your members.
Your member, savings and loan records go onto one system, ready for credit assessment.
The bank assesses your SACCO and sets a credit limit.
You approve members, set loan terms and disburse through your SACCO.
As members repay, the credit line frees up for more lending, subject to the facility terms.
| Drawn this month, lent to 80 members | KSh 4,000,000 |
| Your members pay you, at 10% a month | KSh 400,000 |
| The facility costs you, at 1.5% a month | KSh 60,000 |
| Wakandi facilitation fee, at 2% a month | KSh 80,000 |
| You keep | KSh 260,000 |
On lending you could not otherwise have done. The 10% rate is an illustration; you set your own. Your member also pays Wakandi a 2% disbursement fee when the loan is paid out.
Be among the first SACCOs to grow their lending with QuickLoan+.
For Kenyan SACCOs, new to Wakandi or not.
A banking partner funds the credit line and sets your limit. You lend it to your own members, on your own paper, at rates you set. Wakandi runs the system in between.
The facility costs 1.5% a month on the outstanding balance, plus Wakandi's 2% monthly facilitation fee. Funds you do not use cost nothing. Your SACCO places 20% of the facility as its contribution. All of this goes into the facility terms in writing before anything is signed.
We email you the pilot brochure to share with your leadership team. Our Nairobi team then talks it through with you and tells you honestly whether the pilot is a fit. If it is, you get the terms in writing, and your board decides.