Written by Presta Admin

November 15, 2019

6 Ways Presta Can Boost The Chances of Your Chama Thriving This Festive Season.

6 Ways Presta Can Boost The Chances of Your Chama Thriving This Festive Season

It’s no secret that Presta is arguably the fastest growing online lending platform for  Saccos, MFIs, Chamas and individual lenders in Kenya. This is so for several reasons, some of which I’ll do the courtesy of listing below. But before you even think of joining Presta, you must, first of all, make sure you have a working smartphone. You, together with your Chama members, will use your smartphones to access the software for either lending or borrowing. 

Thankfully, joining Presta only takes a couple of easy-to-follow steps. Smartphones aside, you might also want to get a group of like-minded friends or family and convince them to join your online Sacco. Once you’ve done all the above, you’ll become eligible to join immediately. Without further ado, here are six ways that Presta can change life for the better:

Your Funds Will Be Secure

It’s 2019 people! And that can only mean that most transactions are often carried out online. And that’s why you’re better off using platforms that are not only efficient but will also take great care of your money. I don’t need to remind you how hard it is to come by some money in Kenya. Thankfully, Presta is one of those platforms that never takes your security for granted. Everything, from your monetary transactions to your personal details, is treated with utmost confidence. 

Just like superman, the firewalls used on Presta’s site are virtually indestructible. In layman terms, hackers will stand no chance of breaking past the security in place, even if they had kryptonite. The latter can only mean you’ll be the only one gaining access to your money. Despite all the security measures that Presta has taken to ensure your privacy is protected, and religiously so, you’ll also be required to play your part. For instance, make sure you’re keeping your login details to yourself at all times. Doing so will protect your account from third parties who might want to take advantage of you. 

Also, whenever you’re using someone else’s phone or laptop to access your Presta account, always be keen enough to delete your login information before handing over the phone/laptop back to the owner. That said, always try your best to avoid using someone else’s gadgets to access your Presta account unless it’s an emergency. Doing so will end up saving you a lot of trouble. To finish this off, many people are putting their trust in presta, you can always use it to lend money to others and with that, grow your Chama.

Everything Is Done Digitally

If I am, to be honest, the only good thing about attending a Chama is the food. And maybe being in the company of great friends. But that’s it. Everything else is just hectic. For starters, you’ll have to make the necessary plans. If you and your Chama members come from the same area, good for you, but imagine if someone has to trek for several kilometres. And that’s not even the craziest part. Buying the food as well as preparing it takes time and money. 

Honestly, I can go on and on about the drawbacks that are associated with attending Chamas physically. Thankfully, Presta has made sure that all these meetings can be carried out digitally. Meaning you and your Chama members can conduct business without having to meet up. The latter will not only ensure convenience but will also cut out every one of the hustles listed above. Lastly, you won’t even have to keep any form of minutes or ledger because everything is recorded digitally. You’ll be able to access your money in a matter of clicks.

It’s Affordable

As earlier mentioned, you only need your smartphone and a couple of good friends with smartphones, and you’re good to go. Also, you’ll only need access to the internet, which is quite affordable, especially if the current mobile data rates are anything to go by. And since accessing the site has been simplified, you’ll be able to either gain access to your loan to lend some money out in less than a minute. You can also choose how long you’ll take to repay the loan with interest in a couple of moments, as well.

Again, you can get to do all this from anywhere in the country, which effectively eliminates the need to either travel or makes a formal request for a loan in writing. If your ultimate goal is to clear your loan with little interest, then you can always choose the option to pay early. But the latter shouldn’t be the deciding factor, especially if you aren’t sure of when you’ll come into some money. That’s the beautiful thing about Presta.

It’s Great for Emergencies

Have you ever been in a situation where you need money but can’t access any because of time? Well, with Presta, you don’t ever have to worry about needing funds, even at odd hours. Whenever you have an issue that needs immediate sorting, all you have to do is get your hands on your smartphone, access the presta site and you’ll be good to go. And especially during this festive season, you can expect a lot of people to have enough money emergencies at odd hours if you know what I mean. So, imagine the kind of money your Chama would make if its there, ready to lend to whoever needs it.

Also, you can borrow any amount you wish, as long as you can pay within the stipulated time frame. And once you’ve done the necessary, the funds will be made available to your Mpesa account in minutes. You can then use the money to sort out your emergencies and only pay back in accordance with the stipulated agreement. Remember, the longer you take to make the payment, the more interest you’ll end up accruing.

You Decide How Long You’ll Take to Pay

As earlier mentioned, Presta allows you the luxury of choosing when to pay back your loan. This is, without a doubt, a much better deal compared to the conventional banking system that expects you to make regular payments. Whether you have the money or not is not their problem. That said, it is upon you to pick a time when you’ll be expected to pay the loan back to your Chama via the presta platform. If you’re not seeing yourself coming into some money soon,, then you’re better off choosing an extended period before you can pay off the loan. 

Doing so will automatically translate to paying at a much steeper interest. But better the latter than being under the pressure of making payment when you don’t have the funds. Thankfully, the payment rates offered by your Chama on Presta are much friendlier than what most lending institutions offer as the Chama is in control of the rates as agreed upon by the members while setting up.

A Great Way to Earn Passive Income

Word going around on the millionaire’s club grind mill is that your typical millionaire has at least seven channels of income. It, therefore, goes without saying that, apart from having regular jobs/businesses, these millionaires do have investments that earn them money passively. I mean, who needs to work for the money when their money is busy working for them?

Presta can offer you a reliable source of passive income as long as your Chama makes a habit of lending money to competent individuals. The more you lend to honest, hard-working people, the more interest your Chama will accrue in the long run. It’s very possible to build yourself a small fortune without even breaking a sweat working on as long as you’re doing so through the presta platform. If that doesn’t tickle your fancy, then I frankly don’t know what else will! That said, if you haven’t created a Presta account, what are you and your friends waiting for?!

A Final Word

As I hinted at the very beginning, there are a plethora of advantages associated with joining Presta. But before you join and start reaping these said benefits, you’ll first of all be required to find the right people for your Sacco. The last thing you want is ending up with a bunch of jokers who will end up taking off, leaving the unpaid loans. Finally, always ensure you’re borrowing or lending amounts that you’re most comfortable with. That way, making payments or lending wouldn’t be an issue at all.


Written by

Presta Admin Marketing team


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