Michu Digital Lending Platform

What is Michu?

Michu Powered by Qena, Ethiopia’s first uncollateralized digital lending product launched in January 2022 introducing its product Micro loan brought to you by Cooperative Bank of Oromia.

Michu is an AI – powered digital lending solution that provides individuals and enterprises access credit through a groundbreaking and cutting-edge credit scoring system.Michu Position itself as Secured, Fast, digitized, means of applying for loan with Easy Repayment Method

You can download the application 


Why Michu ?
Financial sector in Ethiopia doesn’t have a relevant, appropriate, scalable, and digitized means of assessing the credit worthiness of MSMEs without some sort of guarantee. Micro, small, and medium enterprises (MSMEs) do not have sufficient collateral assets to unlock credit from banks. This is mainly attributed to lack of collateral, lack of appropriate technology, and difficulty connecting to the digital economy.

Michu enables Coopbank to fulfill financial needs of MSMEs without any form of collateral, customers can boost efficiency and do more with less by reducing “The time to yes” from weeks to minutes.

Speedy Loan Analysis

Several pieces of data are consumed to appraise and process customer loan requests. However, for Michu, several digital data sources are used to inform credit decisions. These variables are assembled into computerized decision trees and substitute manual decision-making processes.

Features of Michu

Ease of Application Process

Coopbank's adoption of Michu has improved its ease of doing business by streamlining lending processes and removing geographical barriers. With standardized processes and accurate data, lending decisions can now be made more quickly and consistently. Borrowers can initiate loan applications from anywhere, at any time, without the need for physical movement. By uploading the necessary documents online, the Michu platform can rapidly communicate loan decisions, further enhancing the ease and convenience of the process.

Short Loan Processing Period

This is another major differentiating factor between conventional lending and the Michu Loan. It could take weeks, sometimes even months, to process applications and disburse the required funds if the regular loan processing methods are followed in the current banking system in the country. On the other hand, digital lenders can process your application within a few minutes and the funds can reach your bank account within a second. This is highly ideal, especially when you want a quick loan to supplement your financial needs.

Availability of Low Amount of Loans

The financial dynamics of Michu loans are fundamentally different from conventional loan products in that loan sizes are generally small and loan terms are short.

Remote Customer Relations Management

Because most transactions occur through digital channels, in-person interactions between borrowers and lenders are limited in digital credit delivery. Customers are managed remotely, with digital follow-up and collection. The digital nature of lending addresses traditional credit products' geographic access barriers and increases financial inclusion.

Credit Score Based Decision

Michu loan decisions are based on the credit score of the customer. The loan amount, loan duration, and interest rate are determined by the credit score of the applicant. The higher the credit score of the customer, the higher the loan limit, the higher the loan duration, and the smaller the interest rate would be.

Collateral Free Loan

Michu loan does not require any form of collateral. Unlike the conventional lending system, the credit worthiness of the MSME is solely decided.


It is loan provided to cover quick working capital needs for micro business.

Product Detail

  • Credit Limit: 50K- 100KBirr
  • Credit Period: 30 Days
  • Access Fee: 2%
  • Interest Rate: 8%


  • Coop bank Account
  • Renewed Kebele ID
  • Renewed Trade License and TIN
  • MoU and AOA & GM TIN (In case of PLC, Partnership & Cooperatives)
  • Should be engaged in trading activity
  • Should own a smart phone (Android)


It is loan provided to cover quick working capital needs for Nano business.

Product Detail

  • Credit Limit: 2K- 15KBirr
  • Credit Period: 7 Days
  • Access Fee: 12%


  • Coop bank Account
  • Should be engaged in trading activity 
  • Should Own a smart phone (Android)

Steps to get Michu Guyya Loan


  • Get the application from play store
  • Sign up
  • Credit decision
  • Disbursement
  • Collection

Michu Wabi Loan Application Process

The following steps will guide you through the application process for Michu Wabi Loan:

Get the Application

Get the application from Playstore and download

Document Upload

Upload each of the necessary documents

Approval Message

Once a loan request has been approved by the concerned authority, it will be notified and upon approval the loan amount will be automatically disbursed to the customer account

Register for Loan

Register your company and personal information after downloading the App

Request Approval

The concerned body will check and approve your first time loan request then your loan request will be approved automatically

Loan Repayment

The loan can be repaid easily from Michu application based on the the terms and condition

Michu Privacy Policy

This Privacy Policy describes Our policies and procedures on the collection, use, and disclosure of Your information when You use the Service and tells You about Your privacy rights and how the law protects You. We use Your Personal data to provide and improve the Service. By using the Service, You agree to the collection and use of information in accordance with this Privacy Policy.

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