Stawi is a solution designed for all entrepreneurs to improve access to credit aimed at growing or improving their business.
This service will provide entrepreneurs with a digital account for their business operations as they can manage all payments and money made from their business. This will in turn open up access to easy credit in the form of business loans to help with their plans for growth.
Stawi is tailored for entrepreneurs in the Kenyan market with the below attributes:
a) Registered Kenyan citizen
b) Business owners
- Unregistered with business permit
- Registered sole-proprietorship
c) Formally registered company
d) Banking status; both banked and unbanked
e) Business turn-over of KES 30,000 to KES 250,000
Registration is simple.
- Download the Stawi app from the Google play store.
- Click OPEN YOUR ACCOUNT to register and proceed to enter your details.
- You will need to provide
o Your mobile number,
o Identification (Kenyan ID or Valid Kenyan passport),
o KRA PIN needed,
o Capture a photo of yourself,
o A photo of your National ID front and back, and
o A photo of a valid business permit/license
- You will need a valid email address to create an account.
- Stawi offers long term instant loans that can be used to improve business cash flows.
- The lowest interest rates on loans at 9% per Annum.
- You can easily open and operate a Stawi account through your mobile phone, without visiting any branch to fill out account opening forms.
- Easily move money in and out of your Stawi account through M-PESA.
- Easy access to credit for Entrepreneurs who may not have proper records and assets to support their borrowing.
- Simple Application process - no paperwork, no red tape and instant
- You can borrow from KES 50,000 to KES 250,000 depending on your loan limit.
- Loan repayment period from 1 to 12 months
- Low interest rates at 9% per annum.
- One-time Facility fee of 4% of the loan amount,
- Insurance fee of 0.7% of the loan amount
Go to your M-PESA menu, Lipa Na M-PESA, Paybill Number 796101 and enter your Stawi account number or mobile number linked to your Stawi account.
You can alternatively receive funds via EFT, RTGS and Pesalink.
Yes, you can receive money in your account through M-PESA Paybill number 796101. See below steps when sending money from M-PESA to STAWI:
a) M-PESA Menu
b) LIPA NA M-PESA
c) PAY BILL
d) ENTER BUSINESS NUMBER i.e. 796101
e) ACCOUNT NO. i.e. enter STAWI account number
f) ENTER AMOUNT
g) ENTER M-PESA PIN then proceed to complete the transaction
Yes. You can send money to a mobile number registered on M-PESA.
This will depend on the mode of transfer.
- Sending money via M-PESA: Min KES 100 Max KES 70,000 per transaction.
- Sending money via Pesalink: Min KES 100 Max KES 999,999
To qualify for a Stawi loan you will need to:
- Possess a Kenyan ID, hold a valid Business Permit, have No Negative CRB listing
- Be a fully registered Stawi customer.
- Monthly business turnover of between KES 50,000 to KES 250,000
Yes, if you have a positive credit score you will be able to access the loan limit extended to you on Stawi.
You can view the amount you qualify to borrow on the app. Once you log in click MY LOANS. You will then be able to view your Stawi loan limit. Your loan limit is fully dependent on your Stawi Activity as well as your credit history.
Log in to the app, click on the MY LOAN menu and click APPLY to proceed with the application.
A Loan offer with an important reference number will be delivered to your registered email address and via SMS. Once done reviewing the terms of the loan, you will be required to ACCEPT the loan offer in the App for the funds to be availed in your Stawi Account.
When you request for a loan, we will receive your request and immediately extend a loan offer to you for consideration and acceptance. This offer will only be valid for 7 days after which it will expire and you will have to initiate another request for a loan via the app.
If you borrow a loan of KES 100,000, the Interest Rate on the loan will be 9% p.a. The fees breakdown will be as follows:
|Facility Fee (4% of Loan Amount)||KES 4,000.00|
|Credit Life Insurance (0.7% of Loan Amount)||KES 700.00|
|TOTAL FEES||KES 4,700.00|
If you would like to revise the loan request or do not want to proceed with the request, you can always reject the loan offer in the App within the same 7-day period.
The amount will be made available in your Stawi Account immediately!
Yes, you can. The app has a loan schedule that shows number of payments, repayment dates, principal & interest amount due every month and total outstanding loan amount as at the time of making the enquiry. To view the loan schedule, go to MY LOANS then click LOAN SCHEDULE.
For monthly loan repayments – Loan repayments will automatically be collected from your Stawi Account.
Manual loan repayment - You can always make a full or partial pre-payment on your Loan to reduce your Principal Amount. This is a good idea as the amount you repay will reduce the tenure period for your loan and improve your credit score.
This is done through the app. Once you have logged in:
- Transfer funds to your Stawi Account through M-PESA Paybill number 796101 with your Stawi Account number as the account number
- Log in and click PAY LOAN on the Homepage
- Proceed to enter the amount and then complete the payment.
However, if you choose to make a partial manual loan repayment, your monthly loan repayment will automatically be collected from your Stawi account on due date based on your schedule to settle the full instalment.
In the unfortunate event that you do not make timely payments, we will transfer your details to the Credit Reference Bureau that may make you unable to access facilities from other lenders.
Upon fully settling the due arrears, we shall update your CRB record indicating you have cleared owed arrears.
Stawi loan limits are determined based on your credit history.
To improve your chances of getting an increased credit limit, set up a Stawi Till Number to receive payments directly to your Stawi account as opposed to cash. You also need to maintain a positive credit history on CRB.
Within 3 months, we will review you afresh and assign you a new credit rating based on your monthly business turnover.
To access a higher credit limit, you need to:
- Set up a paybill to receive payments directly to your Stawi account as opposed to cash.
- Pay your existing loans on time and ensure you maintain a good credit rating.
- Visit an agent to carry out a verification of your ID, Business premise, Business Permit and personal photo provided during on boarding.
- Increase your business transaction activities by receiving funds into your Stawi account via the paybill
Any KCB Mtaani Agent and Co-op Jirani agent will be available as Stawi agent.
“Group” means some people (minimum as defined from time to time) who come together on a free and voluntary basis, and with a spirit of co-operation expressed by mutual assistance, economic activity, or shared objectives; to operate together for the mutual economic benefit of registered Stawi group members"
A fully registered Stawi customer can create a group under MANAGE, MY GROUPS and invite other members to join the group.
The minimum number is 7 and the maximum number 20.
A group should have at least 3 admins
You are allowed a maximum of 3 groups at any given time.
Once you create a group, you can invite anyone from your contact list and they will receive a message with a link to register on Stawi.
Click the gear icon at the top right corner on the screen and log out.
On the landing page click FORGOT PIN then enter the details you provided during registration. You will receive a verification code which will be used to verify your request. An OTP (One Time Password containing 4 digits) will be sent on SMS. Click VERIFY and the new login PIN will be reset successfully “You have successfully reset your login PIN”. You will be redirected to log in screen where you will now log in using the new PIN.
Yes you can. Log in to the app then click MANAGE menu. Then click MY USER PROFILE then the USER PROFILE screen will load. Enter the details in the fields that can be edited/changed and proceed to SUBMIT.
The OTP (one time password) is a 4 digit code that is sent via SMS for verification when making transactions, loan applications, resetting PIN and during registration. By default the OTP will be entered automatically without the need of you typing it manually. If you don’t get the OTP click RESEND and a new one will be sent.
This is the entity (individual or business) to whom a payment or transfer is to be made to.
The app allows you to create and store beneficiaries when making a payment to M-PESA or to a bank via Pesalink. Each mode of transfer will have a corresponding beneficiary. When creating a beneficiary you will go to MANAGE then click MANAGE BENEFICIARY and then ADD BENEFICIARY. You will then select the type of beneficiary to create i.e. M-PESA or PESALINK.
Yes you can. Go to MANAGE then click MANAGE BENEFICIARY and existing beneficiaries will be listed. Click on the cross i.e. “X” adjacent to the beneficiary and confirm.
For further queries or clarifications, you can get in touch with our Contact Centre:
Telephone: 0709714999/ 0730714999
Woking hours: 7 AM to 7PM – Monday to Friday
8 AM to 5PM – Saturday