MicroMoni(acquired)

Over the last decade, bank loans have been reserved for those with excellent credit, plenty of collateral and the luxury of being able to wait months for approval. Traditional lenders make their process time-consuming and complex, with multiple identity checks and proofs of ownership. This approach has put micro and small businesses in a bind. MicroMoni is designed around getting micro enterprises the money they need quickly by leveraging on already established mobile money channels for disbursal and repayment. All they need to do is walk down to the nearest mobile money agent and request for a micro loan.