Salary Advance is a salary-based temporary overdraft facility, which enables staff of private companies and government agencies to access a certain percentage of their net monthly salary in advance.
This loan product is aimed at bridging the funding gap for employees of corporate entities such as commercial banks, Oil and Gas companies, Telecommunication Companies, etc.
The loan may be for the following:
1. Funds to pay your house rent
2. Funds to support your child's school fees
3. Funds to meet urgent personal needs
-For a business opportunity
-To pay school fees and other family pressing issues - Access to funds for the prompt payment of your child/ward’s school fees as well as other family obligations
-To carry out a financial project: You may need salary advance loan to carry out projects
-Help on a rainy day: There are times when you may run short on cash and need a bridge to take you through till your salary arrives
-Repayment: Monthly repayment is flexible and not exceeding 35% of net monthly salary, depending on the loan and the financial institution you borrowed from.
-It has limited interest loan payment, far better than a Business loan from any financial institution
-The requirement for accessing the loan is simple, once you are a full-time employee of a government agency or private sector.
KopaCent Africa Is a Fintech company using technology and leveraging on mobile money to offer employees affordable salary advances. We are more flexible than mainstream lenders and we deliver requested advances in record time.
-Register or sign in to Kopacent.
-Upload Docs (3 months payslips, months bank statements, ID Card, Passport photo, Cheque or standing order)
-Apply for Salary Advance (Apply for a loan within your limit).
-Receive disbursed funds Your request will reach us, sit back and wait for your funds to be disbursed.
-Once you have downloaded the app,
-REGISTER: input your work email, ID no. and your preferred password;
-Then log in by entering your ID no/ work email and password.
-Apply for the loan.
1. Open MPESA SIM toolkit
2. Enter kopacent pay bill number 587107
3. For account number enter your ID number
4. Enter amount Enter your M-PESA pin Confirm details and send
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