credit - BUSINESS OVERDRAFT
Business Overdraft
The Pesapal merchant loan provides a short-term credit facility to Pesapal merchants with the much-needed working capital they require to run their business.
- Eligibility
Existing Pesapal merchants transacting for over 6 months. Active businesses using the Pesapal platform for card payments, POS, online sales, or Openfloat for at least 6 months.
- Maximum loan amount
Loan amount dynamic limit based on your transaction history.
- Application fee
1.5% of the loan amount charged per application.
- Repayment period
1 month.
- Insurance fee
1%
- Interest charged
5% Per month on a reducing balance.
- Security
No collateral requirements.
- Disbursement
Direct deposit to your bank account or Openfloat account. Provides flexibility for receiving funds in the most convenient way for your business operations
- Loan repayment
Flexible periodic repayments automatically deducted from your transacting business account.
