Open in app Sign up Sign in Write Sign up Sign in ![\\"\\"](\\" # HOAX: Kenya Women Microfinance Bank Is Not Taking Loan Applications Through An Online Form ## A link asking applicants to pay money beforehand to get loans from the bank is fraudulent ![\\"PesaCheck\\"](\\" ![\\"PesaCheck\\"](\\" PesaCheck · Follow Published in PesaCheck · 4 min read · Jul 10, 2019 \-- Listen Share ![\\"\\"](\\" A post shared on Facebook claiming that the Kenya Women Microfinance Bank is offering loans to prospective clients via an online form, and that the loan applications will be processed in 30 minutes is a HOAX. The post that has been shared over 30 times, asks clients to apply for loans through an online form that takes one to womenyouthbusinessfund.info. The site’s banner text reads ‘KWFT LOANS: APPLY FOR ONLINE LOANS’, and it does not contain any recognizable branding. When one clicks on the ‘Apply’ button, they are taken to an online form, where a number of criteria are listed, including that one needs to have used mobile money services such as MPesa and Airtel Money for more than 3 months, and that the minimum and maximum amounts anyone can borrow are KSh 2,000 and KSh 300,000 respectively. One requirement that appears rather suspicious is that first time applicants need to pay a fee of KSh 390 that would be refunded if the application was unsuccessful. The fee is not sent to a Paybill number, but to a personal number. ![\\"\\"](\\" A look at the WHOIS information of the womenyouthbusinessfund.info website shows that its hosting information is hidden, which means that it is impossible to determine who the registered owner of the domain is. The site was registered in 2018, while the WHOIS information for kwftbank.com, the official site of the Kenya Women Microfinance Bank website, shows that the domain was registered in 2014. ![\\"\\"](\\" ![\\"\\"](\\" The Kenya Women Microfinance Bank, formerly known as Kenya Women Finance Trust, was founded in 1981 to address the financial needs of women. The bank offers different loan facilities to its clients. A client is required to make a loan application form at a physical branch of the bank. In a written statement published on July 8 on the Kenya Women Holding (KWH) Facebook page, members of the public have been advised to ignore the post claiming that they can apply for loans at KWFT and get approval within 30 minutes. Echo Network Africa ![\\"\\"](\\" PesaCheck has looked into the claim that Kenya Women Microfinance Bank is giving its clients loans that are processed within 30 minutes of application and finds it to be a HOAX. This post is part of an ongoing series of PesaCheck fact-checks examining content marked as potential misinformation on Facebook and other social media platforms. By partnering with Facebook and similar social media platforms, third-party fact-checking organisations like PesaCheck are helping to sort fact from fiction. We do this by giving the public deeper insight and context to posts they see in their social media feeds. Have you spotted what you think is fake news or false information on Facebook? Here’s how you can report. And, here’s more information on PesaCheck’s methodology for fact-checking questionable content. ![\\"\\"](\\" This fact-check was written by PesaCheck researcher _James Okong’o_, was edited by PesaCheck Deputy Editor _Ann Ngengere_ and was approved for publication by PesaCheck Managing Editor ___Eric Mugendi_. ![\\"\\"](\\" PesaCheck is East Africa’s first public finance fact-checking initiative. It was co-founded by _Catherine Gicheru_ and _Justin Arenstein_, and is being incubated by the continent’s largest civic technology and data journalism accelerator: _Code for Africa_. It seeks to help the public separate fact from fiction in public pronouncements about the numbers that shape our world, with a special emphasis on pronouncements about public finances that shape government’s delivery of Sustainable Development Goals (SDG) public services, such as healthcare, rural development and access to water / sanitation. _PesaCheck_also tests the accuracy of media reportage. To find out more about the project, visit _pesacheck.org_ _._ ![\\"\\"](\\" Follow Us ![\\"\\"](\\" Like Us ![\\"\\"](\\" Email Us PesaCheck is a joint initiative of _Code for Africa_, through its _innovateAFRICA fund_, with additional funding support from the _International Budget Partnership (Kenya)_ and _Twaweza_, in partnership with a coalition of local media organisations, and the _International Center for Journalists (ICFJ)_. ![](\\" ## Sign up to discover human stories that deepen your understanding of the world. ## Free Distraction-free reading. No ads. Organize your knowledge with lists and highlights. Tell your story. Find your audience. Sign up for free ## Membership Read member-only stories Support writers you read most Earn money for your writing Listen to audio narrations Read offline with the Medium app Try for $5/month Kenya Microfinance Loans Fake News Fact Checking \-- \-- ![\\"PesaCheck\\"](\\" ![\\"PesaCheck\\"](\\" Follow ## Written by PesaCheck 5.8K Followers ·Editor for PesaCheck Are they lying? Kenya’s 1st fact-checking initiative verifies statements by public figures. A @Code4Kenya and @IBP_Kenya initiative, supported by @Code4Africa. Follow Help Status About Careers Press Blog Privacy Terms Text to speech Teams
KWFT offers loans that are processed within 30 minutes