Mapesa Loans description

In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed.Short term loans are called such because of how quickly the loan needs to be paid off. In most cases, it must be paid off within six months to a year - at most, 18 months. Any loan for a longer loan term than that is considered a medium term or long term loan