Unlock chapaa na Sendy Fulfillment

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FAQs (Financial Services)

What is “Unlock Chapaa” and how does it work?

-It is quite a simple process whereby we will help you access bullet credit which you will be required to repay only after the end of the tenor. This means you will now be able to deal with your other commitments and business operations.

- Initially, we will advance a credit limit in line with your sales, and moving forward we will do a credit limit appraisal based on your sales on our platform.

- This is a great way to ensure your business continues to have cash flow and can carry on growing without being held back by your finances

What do you need to access the product?

- Having a business history with Sendy Fulfillment
- Contact details of company signatories( Name, Position, email address)
- KYC details;
○ Business registration certificate or Business permit
○ KRA Pin
○ Copy of ID

What happens if I fail to repay at the due date?

One-time rollover fee of 4% on the outstanding principal amount if the loan is not fully paid in 28 days.

What happens if  I fail to repay 90 days after the date of maturity?

- Can be handed over to debt collectors
- Can also be listed on CRB

Do I need to provide security?

Goods held at Sendy Fulfillment to form part of loan security. The value of goods held in stock should always cover the amount of outstanding loans.

How will payment be remitted?

On the due date you will be required to pay us the due amount i.e the advance amount plus the processing fee to our bank a/c or Via M-PESA Paybill no.399905.

How long does it take to arrange for the credit amount?

Every business is different. We'll work with you to make sure you get the funds in the shortest time possible. We work flexibly from the point of meeting you and the time you submitted your application. However, this also depends on the speed at which we can access the information we need.

What are the costs of the credit product and how much will I qualify for?

- The FS team will assign a credit limit to a customer based on your average sales on our platform. The higher your sales, the higher the credit limit you will be qualified for.
- One-off processing fee of 4% of the loan amount.
- One-off Rollover fee of 4% if the loan is not repaid within 28 days.

Will I be required to sign a contract?

Yes, A contract is required in order to allow us to underwrite your funding and extend more favorable rates and terms to you.

How can I get started?

To get started, you submit an application with a link that we will provide you with along with some basic support documents as requested on the form and the KYC documents (as listed above). If approved, final documents will be completed for funding.

What are the benefits of such a bullet loan?

- Instant cash flow
- Affordable rates: 4% processing fee. No interest is charged.
- Higher your sales on our platform, the higher the credit limit qualified for.

What are the payment details?

M-PESA: PayBill Number 399905 Account No: CUST-1119 
Cheques: Payable to Sendy Kenya MarketPlace Limited 
Bank Account Name: Sendy Kenya MarketPlace Limited 
Bank Name: Standard Chartered Bank 
Bank Code: 02 
Branch: Westlands Branch Branch Code: 015 
Account Number (KES): 0102476527500 
Account Number (USD): 8702476527500