A sizeable number of Zenka borrowers are of the notion that the lender has ceased offering loans.

This is as a result of numerous ‘Not eligible’ responses they receive each time they open the Zenka app to apply for a loan irregardless of whether one is in good standing with the lender or not.

One user lamented that she ensures that she regularly repays her Zenka loans even before the due date and she is shocked as to why she got denied a subsequent loan even after making an early repayment.

Another stated that he is used to making repayments upon due date then immediately applying for another loan in a bid to sustain himself until the next repayment date.

It seems that Zenka is well aware of such complaints and has in numerous occasions tried to explain the circumstances of such occurrences.

The lender based the issue on their systems which evaluate a borrower’s creditworthiness by taking into account many factors which include:

  • A borrower’s standing with other lenders.
  • Frequency of using the M-Pesa platform while making transactions.
  • Adequate phone data in terms of SMS transaction messages as well as the duration one’s registered phone number has been active.

The lender further advised that the procedure requires PATIENCE until their systems are able to update each borrowers’ loan limits in-order to be given loans.

Zenka offers loans ranging from Ksh500 to Ksh20,000 repayable within 30 days with an option of loan extension.