At L-Pesa, we have developed a credit score system to enable those who pay back their loans on time access to more funds when they need them. We use this score to differentiate our high-risk customers from our low-risk ones. If you are a low-risk customer and are able to increase your credit score consistently, then you are able to take advantage of a range of value added services. Our credit score system is based on a weekly repayment rate. When you start using our service with your first loan, your credit score is at zero. Each time that you complete a payment on time, your credit score goes up by one point. You will have five weeks to complete the payments for any loan and you end up with credit score of 5.
Once you have completed the payments, you are eligible for a higher loan. For each week that you complete the payment on time, you receive another credit score of one.
When you reach a credit score of 100 or more, you become a preferred customer and are eligible for a range of benefits from L-Pesa.
| Customer Status | Credit Score | Loan amount | Days | Weeks |
|---|---|---|---|---|
| Seasonal Customer | 300 | $25 | 112 | 16 |
| Seasonal Customer | 300 | $50 | 119 | 17 |
| Seasonal Customer | 300 | $75 | 126 | 18 |
| Seasonal Customer | 400 | $100 | 133 | 19 |
| Seasonal Customer | 400 | $125 | 140 | 20 |
| Seasonal Customer | 400 | $150 | 147 | 21 |
| Seasonal Customer | 500 | $175 | 154 | 22 |
| Preferred Customer | 500 | $200 | 161 | 23 |
| Preferred Customer | 500 | $225 | 168 | 24 |
| Preferred Customer | 600 | $250 | 175 | 25 |
| Seasonal Customer | 600 | $275 | 182 | 26 |
| Seasonal Customer | 600 | $300 | 189 | 27 |
If you default on your repayments, or you make a repayment late, you will lose one credit point for each week. Should you miss or delay 10 repayments in a row, your credit score will automatically change to zero, and you will have to wait a one full year to be able to build your credit score from scratch and only after you clean your previous loan.
L-Pesa Virtual Agent is any Mobile Banking Agent, Paytm agent who would like to partner with L-Pesa and Enjoy daily cash flow solutions to support Agent's daily cash flow management for better and profitable operation.
Mobile banking has made life so much easier, and with L-Pesa it just keeps getting better. I can safely do so much with my money now using my phone, and with L-Pesa I can enjoy microloan services. I know that the more I use L-Pesa, the more my business can grow.
L-Pesa is an excellent service. I used to be scared of going to the bank to borrow a small amount of money. I thought the bank workers would not take me seriously. Thank goodness for L-Pesa because I can now borrow a little money without feeling any shame or embarrassment.