Are you a business owner? Have you encountered disruptions in your business due to a shortage of funds? Pesapal Credit, a product developed by Pesapal and Sokohela is a revolutionary solution tailored specifically to the needs of MSMEs. It works by making quick disbursements of digital business loans to merchants with active Pesapal business accounts.
Pesapal and Sokohela
Pesapal is the leading payment services company with local know-how in building payments and business tools for Africa. We're on track to connect a million African entrepreneurs and customers to e-commerce, digital payments, and the global financial system by 2030.
Sokohela is a digital tools provider for micro, small, and medium enterprises (MSMEs) in the urban agricultural value chain. It aims to empower MSMEs by use of digital technology, offering empowering tools and resources built to address poverty's interconnected root causes in a scalable way.
The partnership between Pesapal and Sokohela aims to assist MSMEs that struggle to access affordable growth finance from mainstream financial institutions. Sokohela's innovative lending platform will provide affordable credit tailored to merchant Pesapal transaction history. Business owners will have a seamless and convenient way to finance their scale-up without collateral requirements.
What does the introduction of Pesapal Credit mean for merchants?
One of the main features of Pesapal Credit is the simplified application process. Businesses can apply for credit through the Pesapal platform or Sokohela website, eliminating the need for time-consuming visits to lending institutions. Online credit application process requires basic business information and financial statements which can be uploaded digitally, saving both time and effort.
Traditional loan processes involved extensive waiting periods before funds got to your business accounts. Pesapal Credit offers digital business loans thereby providing quick approval and disbursement of digital funds for your business. This can assist you to take advantage of opportunities, bridge cash flow gaps, and invest in growth initiatives for your business.
Pesapal and Sokohela understand the cash flow challenges that businesses face, especially during uncertain times. To address this, the Pesapal Credit facility offers flexible repayment options tailored to the unique needs MSMEs. You can choose repayment periods that align with your cash flow cycles thus comfortably manage their loan obligations without compromising your day-to-day operations of your business
The partnership between Pesapal and Sokohela presents a significant change for businesses in need of quick and accessible credit solutions. By simplifying the application process, expediting approvals, offering flexible repayment options, and providing competitive interest rates, this credit facility empowers businesses to seize opportunities and fuel their growth.
