MoMo
MTN MoMo Merchant Financing Loan
1. What is MTN MoMo Merchant Financing Loan Product?
It’s a financing facility for active MTN MoMoPay Merchants to acquire working capital.
2. What are the benefits of accessing these loans?
Benefits include working capital availability, transaction stability, and encouragement for cashless payments.
3. Who is eligible for a Loan?
Active MTN MoMoPay Merchants with a 12-month history on MTN Money.
4. How do I apply for a Loan?
Dial *155*33# on your mobile phone.
5. How does Asante Finance LTD make a lending decision?
Decisions are based on MoMo transaction spend history and credit status at the Credit Reference Bureau.
6. How will I access the funds?
Asante wallet pushes funds to the merchant’s MTN wallet for withdrawal.
7. How much can I qualify for?
Loan amounts range from UGX 50,000 up to UGX 10,000,000.
8. How do I know my credit limit?
Qualified merchants will be notified via SMS or the mobile app. Merchants can also check their limits via the USSD i.e dial *155*33# and choose check limit.
9. What fee will I be charged for the loan?
Fees vary based on the loan period: 0.5% for 1 day, 2.5% for 7 days, and 6.5% for 21 days.
10. What are the reasons for a failed loan request?
Loan requests may fail if the amount exceeds the limit, blacklisting by the Credit Reference Bureau, existing loan, or unassigned limit.
11. How do I repay my loan?
Repay through your MTN Money wallet by dialing *155*33# and choose repay loan.
12. What if my repayment isn't reflected?
Contact MTN customer care for assistance.
13. What happens with a late repayment?
Late repayments incur additional interest based on the loan period.
14. Who is Asante Financial Services (East Africa) Ltd?
Asante Financial Services Group supports African businesses and individuals with financial solutions.
For more information, visit: https://asantefinancegroup.com/