Bamba Loan Review And Disbursement Duration
Are you are in business and in need of finances? Choice microfinance bank has got you covered with their Bamba loan app that offers instant business loans of upto Ksh30,000 with no paperwork or collateral required.
All you have to do to qualify for Bamba loans is to be a Kenyan citizen who is 18 years of age or older and have a mobile phone number with an active Mpesa subscription.
Proceed to download the Bamba app from the Playstore, create an account then complete the Bamba loan application steps as outlined below
- Click on ‘Get A Loan’
- Grant Camera Access
- Create & Confirm Security PIN
- Enter your ID number
- Take A Selfie
- Enter Your Business Details
- Submit Your Personal Information
- Purpose for the loan application
Once you have submitted your loan application, you are required to wait for the finalization of the loan review process to receive feedback on whether your loan has been approved or denied.
However, there are ways in which you can increase your chances of being approved for a Bamba loan
Bamba Loan Review Process Duration
The Bamba loan review process typically involves verification with the relevant external agencies such as CRB to ensure your credit status so as to minimize potential loan default risk.
Another undertaking of the review process entails examining the submitted information such as business details and personal information to guide on your financial capacity on loan repayment. This is also a determining factor on your initial assigned loan limit.
Upon successful loan review, you will receive approval on your loan application.
Note: A typical Bamba loan review process can take anywhere between 4-8 hours.
Bamba Loan Disbursement Duration
This process comes after the loan approval above whereby the funds are released to your MPesa account. This can take roughly between 1-4 hours.
Note: The above stated duration are for reference purposes only, the actual times may defer depending on various scenarios such as amount of loan applications, business days, working hours etc
For queries, you can contact Bamba customer care on Mondays to Fridays between 9am-5pm
