Business loan Tos
Please note the following terms of service before applying for business loan:
● To request a business loan means you have been with us for a period of 90 days
with a good loan history.
● Your business must be registered and licensed before applying for a business
● You should have cleared all loans like personal loans, soma loans before
applying for business loans as we are not able to approve any loan when you
have another outstanding loan.
● You should take a photo of you when you are in business premises inside,
around the business, and the full picture of you, photos where two people
happen are not accepted unless when you are business partners.
● You should be able to upload the original copy of the required business
document like certificate of business registration, operating license from within
the operating areas and a physical reference letter from your LC 1 chairperson.
● Business loan review can take up to 72 hours to be approved, once your loan
has been declined, you should get an email for the reason and you can only
reapply after 30 days.
● All business loans are to be repaid within the loan period as shown during loan
● When you fail to clear the loan on time, we reserve the right to suspend your
AppNomu account, take legal actions so we can recover the loan you obtained.
● AppNomu shall not be liable for business risk that may result in business failure
or otherwise closing of the business, you agree to clear your business loan
without the exercising of such factors.
● You are the rightful owner of the business profile submitted and all the business
documents and personal profile belongs to you.
Why is my business loan application rejected?
Registered businesses can get loans from AppNomu to boost their businesses and
increase their capital. We try to be realistic and accurate in providing this type of loan to
our esteemed clients since it requires a lot of risking.
Please note that you can only get this loan if you have been our client for at least a
period of 90 days having a good loan repaying history with us and your business must
be registered, certified and licensed to operate before your application can be approved.
When your business loan application is rejected, check if among the following applies
reasons for rejections;
1. Fake business details; we do conduct a review of the business certification by
the URSB to make sure the business has been duly registered and licensed to
operate. Once we do not find more information about your business, your
application will be declined and your account will be suspended for using fake
information to access our services. If you had an ongoing loan, you will be
required to repay our loan before your account can be terminated and as well
all your savings in case you had, shall be refunded to you. To avoid this, you
are advised to use certified business documents from authorized departments.
2. On-going loan; While you can request this loan even if you have another loan
from your account, we can only approve your business loan application if you
do not have any ongoing loan within your account. All your loans like the soma
loan and personal loan should be cleared first before applying this type of
3. Nature of the business; Since business loans come with a variety of risks,
some businesses are not eligible to receive this type of loan, gambling, loan
businesses, livestock businesses and agricultural/ farming businesses may
not be able to receive this loan to avoid more business loan risks.
4. Locations; Businesses in areas that are inaccessible may not receive this type
of business since we may not be able to assess the business place and
premises. If however, you can provide accessibility to your location, we can
assign to you a loan team member to assess your business or we can arrange
an online meeting to verify your business.
5. Impersonations; Your business loan application will not be approved if you are
not the real owner of the business or if the name of your national ID does not
match with the name on your business documents. We require the real
directors of the business to request for this type of business loan so that we
are sure of legit transactions.
6. Blur documents; While taking pics, we are required to take clear pictures that
can be easily read by our loan compliance team and our machine learning
system so we can accurately relate the submitted data to the available
information in the public domain. You are therefore required to take clear
pictures of your national ID, business document and your passport photo that
clearly shows you in your business. At times we may request for a landmark
for any nearby public place like the church, school or mosque for easy location
We do not guarantee that your business loan application will be approved as our
compliance team takes a lot of considerations while reviewing your application.
However if your loan is not approved, you can re-submit your request after 30 days and
your loan application will be re-moderated.
If you believe your loan has been denied in error and you would like to know more,
kindly contact our loan team on firstname.lastname@example.org and include your business loan
number that was rejected for a thorough review.
Business loan approval takes 72 hours from MONDAY to SATURDAY and once your
loan has been approved, you will receive the loan amount requested under your loan
account from which you can withdraw at free cost.