Why LOOP By NCBA Is The Financial Sidekick Every Entrepreneur Needs

During the release and announcement of NCBA Bank’s financial results for the year that ended December 2024, the bank’s role in driving financial inclusion through partnerships for over 60 million customers across Africa saw the lender cross the 1-trillion shillings mark on digital loan disbursements.

The figures that were quoted were mind-boggling. For a single institution to disburse such an amount of money to customers without holding onto something as security, but trust was something least heard of within Kenya’s banking corridors. But NCBA had done it.

This brought me to LOOP, NCBA Bank’s digital marvel that’s reshaping the financial landscape for entrepreneurs and individuals alike. There was no way NCBA was pulling these huge moves without a massive investment in fintech.

When you peep through the concept of LOOP and its modus operandi and then look back in time to when banking was manual, with sweat as a result of running up and down with paperwork to access a loan of as little as 500 shillings, you will realize that the days have gone fast. Maybe we are growing old or maybe NCBA is just moving so fast.

There is no doubt that LOOP has catapulted banking into the digital age, offering a seamless, all-in-one platform that caters to the modern user’s every financial whim. Whether it’s payments, credit, or savings, LOOP has it covered, all while ensuring that users feel less like they’re managing finances and more like they’re commanding a starship through the galaxy of commerce.

Read Also: OPPO Kenya And LOOP Announce Renewal Of Partnership With Exclusive End-of-Year Deals

What sets LOOP apart from the myriad of digital banking platforms clamoring for attention is the ingenious integration of embedded finance. Imagine strolling through a market, spotting a must-have item, and with a few taps on your phone, not only making the purchase but also accessing credit seamlessly integrated into the transaction. No pre-approvals, no separate loan applications—just instant financial gratification. That is LOOP.

For entrepreneurs, LOOP is nothing short of a game-changer. Here is why I think so:

1. Instant Access to Credit: Cash flow hiccups are the bane of any business. LOOP provides immediate credit solutions embedded within payment processes, ensuring that purchasing inventory or covering unexpected expenses doesn’t require a Herculean effort.
2. Seamless Transactions: With LOOP, transactions become a breeze, allowing entrepreneurs to focus on what they do best—innovating and growing their businesses—rather than wrestling with cumbersome banking procedures.
3. Financial Insights: Knowledge is power. LOOP offers personalized financial insights, enabling entrepreneurs to make informed decisions that propel their ventures forward. It’s like having a financial advisor in your pocket, minus the hefty consultation fees.

Now, let us talk figures because, as they say, numbers don’t lie.

1. Loan Disbursements: Since its inception, LOOP has disbursed over 48 million dollars in loans, providing much-needed capital to fuel entrepreneurial dreams.
2. Transaction Volume: In 2024 alone, LOOP processed transactions exceeding $876 million, a testament to its growing adoption and trust among users.
3. User Base: With over 400,000 consumers and 160,000 merchants registered in Kenya, LOOP is rapidly becoming the go-to financial companion for a significant portion of the population.

Whoever said finance is dull hasn’t experienced LOOP. It’s like the Swiss Army knife of banking—versatile, reliable, and with a touch of flair. Need to pay a supplier? LOOP it. Eyeing that new gadget but short on cash? LOOP has your back. Want to save for a rainy day? Let LOOP be your umbrella. It’s not just banking; it’s banking with personality.

Read Also: Why Do You Need The LOOP Visa Card?