AhunCash brings a breath of fresh air to the Ethiopian loan market, standing out by offering convenient, fast, and collateral-free loan products to both businesses and individual consumers. The provider partners with banks to assess creditworthiness digitally, allowing applicants quick access to funds without the burden of traditional guarantees.

The AhunCash business loan provides amounts between ETB 5,000 and 500,000. Terms range from 1 to 12 months, with a facility fee of 2% and a monthly interest rate of 2% to 3%. The consumer loan caters to individuals, as well as government and non-government workers, with limits up to ETB 200,000. Both products are accessible entirely through a user-friendly mobile application and require no collateral.

How to apply: step-by-step process

First, download the AhunCash app on Google Play or the App Store. Open the app once installed.

Register using your personal or business details. The app guides you to fill out all necessary information easily.

After registration, you can proceed to make a loan request by selecting your desired loan product and amount.

Your application is then reviewed digitally. Approval decisions are made rapidly compared to classic processes.

Once approved, you can choose to collect funds at a branch or receive them via mobile banking for utmost convenience.

Advantages of AhunCash loans

One significant benefit is the complete lack of collateral requirements, meaning more inclusivity for SMEs and individuals previously left out by banks.

Approval times are impressively fast; while some providers may take weeks, AhunCash can provide funds in minutes or hours once all documentation is submitted.

Disadvantages to consider

Monthly interest rates of 2%-3% might be higher than some traditional secured bank loans, so compare with other local offers carefully.

The service requires access to a smartphone and digital skills, which may not suit everyone, particularly those in rural or remote areas.

Final verdict

AhunCash is especially suitable for individuals and businesses needing quick, collateral-free loans in Ethiopia. The streamlined process and digital platform promote financial inclusion and empower growth.