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SoniKASH (hereinafter referred to as “(SoniKASH”) is a mobile Application under Sonix Credit Limited Micro-finance offers flexible mobile loans to small, medium enterprises (SME), investment groups and individuals in Nairobi and its environs. SoniKASH remains focused on its vision of enriching business enterprises, groups and individuals financially with an aim of contributing to the economic growth of Kenya by offering Flexible, reliable and affordable mobile loans to the financially marginalised
SoniKASH seeks to provide mobile loans and short term salary advances to employees whose salary may not be sufficient for them to meet their monthly expenditure, or if they need a quick loan to fix a pressing need. SoniKASH offers a quick source of cash, with a maximum processing duration of less than 5 minutes once registration and activation is done,
We aim to handle the financial needs to individual clients through our loan options which include:
|Loan Duration (months)||1|
|Interest Rate (%)||10%|
|Amounts||1/3 of the basic salary|
The credit industry consists of banks, Sacco’s, and micro-credit facilities that run similar applications such as SoniKASH. Unlike banks and Sacco’s that do not offer mobile loans to listed individuals, our CUSTOMERS are likely to benefit from being granted MOBI LOANS incredibly fast in order to meet their immediate pressing needs. MOBI-loan clients, most of whom do not have any record indicating their credibility, and with most having no collateral would otherwise not be able to obtain Mobile loans from banks and Sacco’s.
Further, unlike the Sacco’s, we do not require our clients to have saved with us previously in order to obtain a loan from SoniKASH.
On boarding, our customers shall be required to register with SoniKASH by providing their details to us which include;
The payment policy adopted by SoniKASH is all inclusive because we are aware that different customers prefer different payment options as it suits them. Here are the payment options that SoniKASH will be made available;
NB Our application is able to tally the figures and credit for each mobile loan acquired by the employee making it easier and flexible for a repayment by the company through any of the above payment optionsSoniKASH Requirements:
We work with the finance departments of the employer to ensure the loan repayments are paid to SoniKASH directly during the payroll processing period. SoniKASH will forward the details of the Loans, and monthly salary advance repayments expected from their employees on a monthly basis to ensure SoniKASH is paid directly by the employer.
What happens when the employee who has taken a salary advance has been fired/leaves the company? We shall request that the dues owed to the employee by the company are used to pay back the salary advance. If there is still some balance, we shall follow this with our client until he/she completes the loan.