By Gitahi Ngunyi
@gitahi_ngunyi
Many readers have reached out to us with questions regarding Kingdom Bank’s M-collection solutions for businesses following our publication of a story detailing how the solution works and its benefits. In this post, we will provide answers to questions relating to the solution other Kingdom Bank services and products.
We have picked questions that had a higher frequency of recurrence from the readers. The names used in this post are of those who were first to raise a particular question.
Dorcas Saina of Sky Packaging, Eldoret: How can I get a loan from Kingdom Bank?
M&M: With the M-collection solution, Kingdom Bank has made access to credit easy for small businesses. Once a business person has subscribed to the solution, customers begin making payments for goods and services direct to the business person’s bank account at Kingdom Bank. The payments are then used to build the business person’s transactions with the bank. The higher the transactions, and longer the business person uses the solution, the easier it becomes to get a loan. And the icing on the cake is that you do not need to visit the bank to fill forms in order to apply for a loan. With frequent use of the solution, the business person can apply for a loan from the bank by dialing *344# or by logging into KB Mobile App.
Kimingi Joseph of Gaitega Household Supplies, Murang’a: How will I know if payments have hit my account?
M&M: Kingdom Bank’s M-Collection solution is supported by a robust infrastructure that provides records in real time. Once a customer has made a payment to your account, the system will generate a message that will be sent to your phone indicating the name of the customer and the amount they have paid to the account. To verify, you can check the transaction through the bank’s mobile application.
Evangelist Shirley Mukhwana, Redemption Sanctuary, Busia: Can the solution be used for offerings and tithe collections in church?
M&M: M-Collection solution supports collections for small business operating in all segments. For businesses such as rental houses, kinyozi, salons, mali mali or general shops and mama mboga, customer payments can be made through the bank’s short code or till numbers. For businesses such as churches, hospitals, schools payments can be collected through the bank’s pay bill number. One can register to get a Pay Bill which is more appropriate for your kind of transactions.
Bramwel Wafula Wawire, Cloud 9 Cyber: How much does it cost?
M&M: Registration for the solution is free. To benefit from the solution, call or send text to 0709881300 or just walk in to the nearest Kingdom Bank’s branch for free registration. That is not all, the transactions from customers to your bank account are also free of charge. Your chances of qualifying for a business loan from the bank increase every time a customer uses the solution to pay you.
Opap Agolla Fred, Osiepna Transport & Logistics: Can I see more of your products
M&M: Kingdom Bank is a financial services supermarket providing a bouquet of services to Kenyans. The complete range of services can be found in the following link or visiting the nearest branch.
