Looking for a flexible loan to expand your business? Fed up with high-interest rates, collateral requirements and tedious application processes? Nonprofit microlending service Zidisha is here to make things easier!

On Friday June 19, BongoHive will be collaborating with Daniel Coysh, Zidisha’s country ambassador for Zambia, to host the Hive’s first Zidisha Microlending Workshop. Daniel will give an introductory talk on Zidisha’s online, peer-to-peer microlending service, before guiding participants through the step-by-step loan application process, on the Zidisha website.

The cost of a Zidisha loan is very low, with a fixed service fee of just 5% of the size of the loan, and borrowers can choose their own repayment schedule, taking anywhere from one month to two years to repay. There is no minimum loan amount, whilst the maximum loan amount is determined by a borrower’s record of on-time repayment, starting at 360 ZMW and going up to 50,000 ZMW. The service is also very safe: there are no hidden fees or additional costs, and all transfers are made via MTN Mobile Money, so Zidisha will never ask for your bank details. Participants should check out www.zidisha.org before the workshop, and come prepared to complete the loan application process. For this you need: a laptop (and charger!); an MTN phone number and Mobile Money account; an existing Facebook account and email address; a national ID number; name and phone number of 7 referees; and a profile picture (should show you in your business location). The workshop will run from 14h to 17h.

If you have any questions, feel free to check out www.zidisha.org, or call Daniel on 0961 323 499. Please RSVP to reserve your place.

We look forward to seeing you there!