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Funds tomaterialize my idea andmake kenya a better place

Project Overview


We at E-MICRO FINANCE want to take micro-financing to a higher level.The idea suggests that we partner with mobile operators e.g safaricom who have so many MPESA agents country wide,then partner with micro-finance institutions.We intend to create a site in that when one wants to apply for a microfinance loan,he goes to the site,selects the institution in which he is a registered member,fills in the application form and other necessary details required and includes the mpesa number and the nearest MPESA agent number which has to be legitimate.The person submits the application to us which we then forward to the institution.The micro finance institution goes through the form,certifies the mpesa number of the applicant and the mpesa agent number for security,Agents will be empowered to keep the security of the loan from the applicant.After the micro finance institution has approved the loan,the money is sent to the mpesa agent number or sent to the mpesa number of the applicant depending on the decision of the micro finance institution.The person goes to the mpesa agent,identifies himself with the necessary details to ensure the transaction is up to the expectations of each party.Th money is then handed to the applicant and the MPESA agent remains with security of the loanThey both receive a confirmation SMS from E-MICRO FINANCE,Safaricom and The micro finance institution.The person can also repay the loan through us(our website)using the same process but the person this time sends the money to the micro finances account through the MPESA agent.E-MICRO FINANCE embraces the mobile payment technology to enable more people who are closer to MPESA agents than branches of banks easily access loans to support their businesses therefore empowering the Kenyan Economy.E-MICRO FINANCE only supports small loans due to security reasons for the MPESA agent and the institution

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