Having proper funding is necessary for any venture in life, whether buying a car or starting a business. Unfortunately, not everyone has the funding required because not everyone is born in the ideal circumstances. Nonetheless, we strive to earn enough money to pursue these ventures.
However, doing so can be a long and challenging process, leaving borrowing the only faster alternative. The problem here is that you can’t always borrow money from friends and family, and not everyone trusts money lenders. We feel you there because not many money lenders are professional and honest, which makes you worse off than before they lent you money. Naturally, hearing these stories can make you hesitant about getting a loan.
But not many people realize that if money is borrowed from the right lender, it can end up giving you massive benefits. You can make your circumstances a lot better with the right loan. At Mwananchi Credit Ltd., we have changed the lives of many who have chosen to finance their dreams with us. Come find out why we are the best money lenders in town.
What makes a money lender the best?
When dealing with a money lender, there are certain factors about them that you should be on the lookout for. This is to ensure you get the money on favorable terms and that you can repay without complications. The factors are:
- Interest Rates
- Repayment Terms
- Loan Variety and Speciality Loans
- Disbursement and Processing Speed.
What makes us at Mwananchi Credit Ltd. the best money lenders?
Mwananchi Credit Ltd. is a Kenyan-based company that has been in the business for many years. We have branches all over Kenya to ensure that you can obtain our money lending facility wherever you may live. As such, we have established ourselves as the best loan providers in the country. We tick all the boxes and fulfill all the factors with exceptional standards that make us the best money lenders. Here is why:
We are a credible company, and you can simply search on the internet and see for yourself. You can see all the reviews from our clients whose lives we have changed with our loans. Additionally, you will see that our company is growing too, showing that people prefer to do business with us.
Excellent Interest Rates
Our interest rates are as low as up to 1.6% to ensure that you can pay back the money without difficulties. There are also no hidden charges involved, and we are upfront with any involved costs.
Flexible Repayment Terms
Repayment terms represent the deadline for repayment and any grace period for each of these deadlines. We provide flexible repayment terms because we know that life is unpredictable, and sometimes you just can’t pay back the money on time. We also do not include penalties if you repay earlier, as some other lenders do.
Loan Variety and Speciality
We have a healthy loan variety to ensure that a loan type is available that is ideal for your needs. After all, different types of loans have different collateral and terms, and we have a loan type for all your needs. We also specialize in certain loans like our popular logbook loans.
Processing and Disbursement Speed
Getting your money as soon as possible is crucial, especially if you need emergency cash. This is why we try to disburse the funds as quickly as possible and reduce processing speed, ensuring less hassle for you.
As you can see, we stand out among all these factors showing that we are the best money lenders in the country.
What is the specialty loan type that we offer?
Logbook loans are the most popular loan types we provide, and we pride ourselves in being the number one provider of these loans. A logbook loan allows you to obtain credit or cash against your car, which you will offer as collateral. Therefore, if you’re a car owner, you can quickly receive funding based on the amount your vehicle is worth. Like most loans, interest rates, repayment plans, and the amount borrowed involved will be part of the loan terms. We provide excellent loan terms that make it easy to repay the loan.
What are our specialty loan terms?
Typically, most lenders will offer high-interest rates with rigid repayment periods. Additionally, they will only provide you with cash that is only 30% of the car’s value, making the entire loan unfavorable. However, at Mwananchi Credit, we offer up to 90% cash value, and we do it within only 6 hours! Additionally, we provide interest rates as low as 1.6% with flexible repayment periods that can be up to 4 years. The loan amounts we provide can be between 150,000 KSH and 25,000,000 KSH, which will depend on your car type and model, among other factors. We evaluate this and consider the market value of the car. The great thing about these loans is that you don’t have to worry about your credit score, as even people with a bad credit history can get these. This is because the loan is secured due to your car being collateral if you cannot pay. We may check our CRB rating but don’t worry; this is only for informational purposes.
What should you consider before applying for this loan?
Before applying for a logbook loan, you must understand how interest rates can vary. Typically, shorter repayment periods tend to have lower interest rates than extended loan arrangements. You can use the online calculator module available on our website to determine the interest rates based on the amount you prefer to borrow and the repayment period that accompanies it. Therefore, you must use this calculator module before you apply.
How to apply for this loan?
After you have decided to get this loan, you can visit us at any of our branches all over the country that are in Kitengela, Thika, Nakuru, Nairobi, Mombasa, or Kisumu to apply. Additionally, you can even apply for these loans online on our website. Once you have done so, a member of our customer support team will contact you during working hours and guide you through any additional process. The online application process is as follows:
- Click on the ‘Get a quote’ option in the logbook section of our website and fill in the required fields.
- Submit the application, and a member of our CR team will get back to you within 30 minutes.
- After the pre-approval process, you will need to visit any of our branches and sign the contract. After that, you will receive the money within 6 hours.
What are the minimum requirements for this loan?
Our requirements are pretty minimal to ensure that you can apply for this loan with minimum difficulty. The requirements are:
- Original car logbook
- Applicant’s KRA PIN
- Applicant’s original national ID card
- Two colored passport-sized photos
- Bank statement of 6 months
- Comprehensive insurance certificate cover.
Mwananchi Credit Ltd. is the ideal money lender you want to deal with courtesy of its credibility, excellent loans, and speedy disbursement of money or credit. We stand out from other money lenders that do not provide good loan terms. In this way, you can come out on top after getting a loan from us. Additionally, we have discussed our specialty loan in this article and everything to do with it to show you that we indeed are the number one provider of logbook loans, among others. We hope this article proves insightful and informative, and if you ever need some cash, you know where to find us!