When a customer applies for a loan, The Lender can either let it automatically disburse or approve the loan first. There are three Loan Statuses,
- Completed– The loan has been disbursed and the customer has received the money. This transaction can be confirmed on Mpesa B2C, and Transactions B2C
- Failed– The loan did not go through, the customer did not receive the money.
- Inprogress- A loan in progress can either be a failed loan that is not updated, or a complete loan that also is not updated.
To check this, Log in to the Mpesa portal and confirm if it went through. If it did go through, obtain the Mpesa transaction code and recover the transaction. To update it’s status.
To recover a loan in progress that you have confirmed has gone through,
- Go to Loans on the menu
- On the far end of the loan column is a button written more, click on it.
- Once you are on the loan, click the Actions button
- Select recover loan
- Key in the transaction code
- Click recover