Michu

Cooperative Bank of Oromia and Kifiya Financial Technologies have launched Michu, Ethiopia’s first uncollateralized lending platform. Its quick, digitized, and automated application process for uncollateralized loans aimed at micro, small, and medium businesses, using a cutting-edge credit scoring system with simple repayment options.

Users may apply for loans on the Michu platform and obtain a data-driven conclusion. In a matter of minutes, the application, eligibility, verification, credit analysis, scoring, approval, and loan distribution will all be accomplished digitally.

PRODUCTS THAT WE OFFER

        MICROLOAN

• Roadside vendors and small businesses are targeted.
• One month is the loan payback term.
• The maximum loan amount is ETB 30,000.
• The loan can be used to fund working capital requirements on a daily, weekly, or monthly basis
  LOAN FOR SMALL BUSINESSES
• Small and medium-sized dealers are the target audience.
• One year is the maximum loan payback duration.
• The loan limit can be increased up to ETB 150,000.
• The loan is used to meet the business’s working capital needs.