How to Qualify for an Oze Loan

Oze loans are non-collateral loans; this means you do not need to tender documents validating valuable assets in order to secure financial assistance. However, any user applying for an Oze loan should note the following:

Step 1: Actively use the Oze app for at least 30 days:

As a business owner, you should record all your sales and expenses in the app to indicate that your business is active

Step 2: Updated Bank or Mobile Money Statement

Ensure you have uploaded an updated bank or Mobile Money statement not older than 3 months or 90 days from the date of application

Step 3: Ensure your Oze account is verified

This verification process enables you to be eligible for a loan as well as send and receive payments via the Oze app

Step 4: To verify your account, kindly follow the steps below:

Click on the hamburger menu at the top left side of your screen

1. Click on settings
2. Under ‘Personal’ click on Account Limits
3. Click on Upgrade Oze Account
4. Confirm if your business is registered or not then click on continue
5. Click on Upgrade to Level 2 to proceed
6. Click the arrow on the right to take a selfie
7. Click on Take a picture
8. Click on the Allow button
9. Move your face closer to the Oval Circle until it turns blue, then smile
10. To proceed, click Yes, use this one
11. Place your camera over your ID to capture your face on the ID
12. Click the tick icon in the circle to proceed
13. You will receive a notification to confirm your account is verified

You are now ready to apply for a loan

After applying for the loan via the app:

1. Our loans team will vet your financial statement against the amount requested
2. You will receive a loan agreement form stating the terms and conditions
3. In case you agree with the amount offered, you sign the form, and the loan is disbursed