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The holiday season is over, and the streets are buzzing as parents rush to prepare for going back to school either to buy schools items or pay schools fees.
At the heart of it all is Juma, a trusted bank agent known around the neighborhood for his swift services and friendly smile.
However, the smile this time is fading, since he opened his shop at 7.30am, parents have been coming in to access his services to pay school fees. The demand is at an all-time high, but Juma has a big challenge.
His float is running dangerously low. By mid-morning, Juma was turning away his clients as he shook his head distressingly.
“Sina float”, he kept telling his customers who were flocking his shop from his neighbourhood because it is convenient, they don’t travel far.
Inside him brewed panic, he felt bad that he was missing this great opportunity to earn record commissions this season. As he sat in frustration, trying to think of a quick fix, something clicked.
He suddenly remembered that Equity Bank offers float financing to agents. Without wasting a second, Juma reached out to his Equity Bank supervisor and applied for float financing. Within moments, funds hit his agent account, just like that!
During this busy back-to-school season, Agents handling school fee deposits often face increased demand and are bound to experience low floats that can disrupt operations. Equity has, however, made it easier for them to stay liquid and serve their customers better.
When your float runs low, just like Juma, “usikwame”, you can access Float Financing by visiting any Equity branch and talking to an Agent supervisor.
And remember, the more deposits you receive, the more commission you earn.
Relieved and energized, Juma jumped to his feet. With a renewed smile, customers coming in this time were not turned away. Payments were processed and word spread like bushfire that Juma’s Agency was serving customers.
“Sina float” was in the past working. Juma did not only save the day for the parents and students paying fees, but he also grew his business, built trust, and learned that being stuck doesn’t mean staying stuck. Sometimes, the solution is just a smart move away.
As an Agent, growing your float loan limit is easy. Simply transact more with your agent account through deposits and withdrawals. The higher the transactions, the higher the loan limit. Your loan has a flexible repayment period of up to 5 days at a minimal fee. And what’s more? With agent float financing, you can borrow a second loan as long as you are within your loan limit.
Equity’s comprehensive solutions offer much-needed support during the back-to-school season