LOOP, the digital financial services arm of NCBA Group, on Thursday launched LOOP BIZ+, a platform that puts payments, stock management, customer reach and business loans for small and medium-sized enterprises into one account.

The product pairs a card machine (PDQ) with a mobile app and a web portal, a model tech outlets have compared to US payments firm Square. Merchants can accept Visa and other cards, contactless tap-to-pay, mobile money and LOOP's own payments.

Sheila Kimani, LOOP's chief commercial officer, said the platform "brings these needs into one platform", in a market where small shops often juggle a bank card machine, an M-Pesa till, a paper stock book and a loan from another lender, each with separate records.

Loans based on sales, not collateral

The main selling point is credit. LOOP says merchants who run their payments through the platform can borrow without collateral or a loan form, because the lender assesses them on their sales. According to Tech-ish, a merchant is assessed automatically after 90 days of activity, and the limit grows as more money passes through the account.

The credit menu includes:

  • Quick loans and overdrafts.
  • Supplier credit, paid directly to a named supplier.
  • A digital route to longer-term business loans.

All are subject to eligibility and approval, with NCBA Bank backing the lending. An in-app feature lets merchants set a target credit limit and track their progress towards it.

What it costs

TechMoran reported a subscription price of Sh1,500 a month. LOOP's tariff guide, reviewed by Tech-ish, shows a facility fee of 6 to 8 percent on quick loans depending on the borrower's risk, so a Sh10,000 quick loan costs Sh600 to Sh800 in fees, with the same charge again for a rollover. Overdrafts carry a 2 percent fee on the amount drawn plus interest starting at a base rate of 15.9 percent a year. Mobile money collected on the PDQ by a phone prompt costs the merchant 0.5 percent.

LOOP has not published the price or rental cost of the card machine or the fee charged on card payments, and Tech-ish advised traders to get those figures in writing before signing up.

Stock tools and a ready market

The platform also uses artificial intelligence to monitor stock, forecast demand, suggest restocking and flag slow-moving goods each morning. The feature is live on the web version, with the LOOP BIZ app due to get it in 2027. Merchants are also listed on LOOP Discover, a marketplace inside the LOOP consumer app that the company says reaches more than 500,000 users.

The launch extends LOOP's partnership with Visa. Visa's Kenya country manager John Njoroge said combining card acceptance with other digital payment options would help more businesses join digital commerce.

LOOP BIZ+ enters a market where Safaricom already offers till-based lending through its Taasi Till Loan. The launch comes weeks after South Africa's Nedbank took a 66 percent controlling stake in NCBA.

Photos: TechMoran; LOOP via Tech-ish. Thumbnail design: HAMASTA MEDIA.