How it works
How borrowing works
Every loan goes through the same six steps. Nothing moves without both your chama and SonkoLend saying yes, and you see the full cost before anyone asks you to sign.
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Apply
Sign in, choose a product and an amount within your limits, and pick how long you want to repay over. The app shows your fee, interest, total repayable, APR and every due date before you submit.
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Your chama approves
Your chairperson sees the request alongside your repayment history and the headroom left in the chama's pledge, and approves or declines. Nothing happens without this step.
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SonkoLend reviews
We confirm the chama still has cover for the loan and check affordability. If either fails, you are told why and no money is committed.
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You sign
You receive the Total Cost of Credit disclosure with the same figures you saw when applying, and sign by entering a one-time SMS code. Withdrawing before you sign costs nothing.
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The money arrives on M-Pesa
Once signed, the loan is disbursed to the M-Pesa number on your account. You get a confirmation with the M-Pesa reference.
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You repay
Repay from your loan page in the app, or by M-Pesa paybill 3031070 using the account number shown there. Payments are applied to penalties first, then interest, then principal, then fees.
If your chairperson declines
The request ends there and nothing is recorded against you with SonkoLend. Talk to your chama; you can apply again when the chairperson is ready to approve.
If you are late
You get SMS reminders first. Penalties only start from day 8, and nobody is reported to a CRB under 30 days late or without 30 days written notice.
How CRB listing works →