Safaricom Fuliza For Business: Latest Details
Safaricom Fuliza for Business is a credit facility that allows business owners to complete transactions even when they don’t have enough funds in their M-PESA Business tills. To use Fuliza for Business, business owners need to:
- Be registered on M-PESA Business with an active Safaricom M-PESA line.
- Opt into the Fuliza for Business service by dialing 234# and selecting Fuliza for Business.
- Have been active on the network for at least 6 months.
- Have a good M-PESA Business repayment history.
Once a business owner has opted into Fuliza for Business, they will be able to borrow up to a maximum of Ksh. 400,000. The amount that a business owner can borrow will depend on their creditworthiness and repayment history.
To repay a Fuliza for Business loan, business owners can top up their M-PESA Business tills using any of the following methods:
- M-PESA agents
- ATMs
- Online banking
- Airtel Money
Business owners who repay their Fuliza for Business loans on time will not be charged any interest. However, if a business owner fails to repay their loan on time, they will be charged a daily interest rate of 1.5%.
Fuliza for Business is a convenient way for business owners to access short-term credit. However, it is important to note that Fuliza for Business is a loan and should be repaid as soon as possible to avoid incurring high interest charges.
Here are some of the benefits of using Fuliza for Business:
- It allows business owners to complete transactions even when they don’t have enough funds in their M-PESA Business tills.
- It is a convenient way to access short-term credit.
- There are no upfront fees to use Fuliza for Business.
Here are some of the risks of using Fuliza for Business:
- If you fail to repay your loan on time, you will be charged high interest rates.
- You could overspend and end up in debt.
- You could damage your credit rating.
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