This archive report was first published on 28 December 2019.
The Six Most Popular Loans That Give Quick Cash ¶
Published on December 28, 2019
Mwananchi Credit, a leading micro-lender in Kenya, offers a variety of loans to cater to different needs in the market. The company has branches in major towns across the country and has been recognized for its award-winning services.
One of the popular loans offered by Mwananchi Credit is the logbook loan, which allows individuals to meet personal expenses such as medical bills, school fees, and purchase of household goods. The loan facility is secured using a car logbook and offers up to Ksh20 million.
Another popular loan is the cheque discounting service, which allows borrowers to get cash against cheques issued by reputable companies at competitive commission rates. This product ensures the borrower gets immediate cash against their cheques, ensuring a continuous flow of business working capital.
Mwananchi Credit also offers LPO financing, which finances businesses to service awarded LPOs or LSOs and contracts by procuring entities. This is done fast and at competitive pricing against securities such as title deeds and logbooks.
The company also offers invoice discounting, which allows suppliers to get paid by discounting invoices for reputable companies/institutions fast and at competitive pricing. No security is required, and the facility finances up to 80% of the invoice value to be repayable within 90 days in a bullet payment from the proceeds of the invoices.
Additionally, Mwananchi Credit offers salary advance loans, which can be used to fund emergencies such as school fees, hospital bills, wedding expenses, funeral expenses, court fines, etc. The loans can be repaid in a flexible repayment period, and approval is granted within one hour.
Lastly, the company offers secure loans, which can be used by individuals or small and medium enterprises (SMEs) in need of working capital. The facility may be secured by either logbook or title deed and may be used to meet personal expenses or acquire capital items for the business.
