Best Emergency Loans in Kenya

emergency loans in kenya

Nothing in life is guaranteed. Unexpected situations can arise, leaving you needing emergency cash. Friends and family may not be able to help, and other lenders might offer slow processes or unfavourable terms. This is where Mwananchi Credit steps in.

We offer emergency loans specifically designed for time-sensitive situations, like medical emergencies. When every minute counts, our fast approval and favourable terms can ease your stress and get you the financial help you need.

Let’s explore the loan options we offer to help you navigate these unforeseen challenges.

Logbook Loans

Logbook loans are some of the best emergency loan options we provide. This type of loan involves using your car as collateral for the credit we provide. Usually, companies will only offer up to 30% credit, but we provide up to 90% credit. This enables you to get instant cash quickly by simply owning a vehicle through our customer care agents who offer technical assistance.

The fantastic thing here is that you can use multiple logbooks for one loan enabling you to get even more cash. The process takes up to a maximum of 6 hours and can be done through online means.

After pre-approval, all you need to do is sign a contract at any one of the various branches we have throughout Kenya, and you’ll get your cash. We offer credit from up to 100,000 to 25,000,000 KSH, which depends on the model of your car.

Also, we offer a long-term repayment period between 1-48 months, so you don’t have to worry about paying it back anytime soon. Mwananchi Credit Limited company has flexible repayment periods that foster economic growth.

Best Emergency Loans In Kenya

Title Deed Loans

 Title deed loans are another type of loan you can avail of that can be used for personal and business purposes. This means you can also use them as emergency loans.

To avail them, you need to be a salaried (not more than 60 years old) or self-employed person (not more than 65 years old). You provide your title deed as collateral and information such as dependants and spouse salary for the loan amount to be decided.

Generally, the eligibility of the loan does not exceed 50% of the property’s market value. You can inquire about it on our website if you are interested in this option.

Salary Checkoff Loans

Salary checkoff loans can be used for personal reasons, which makes them ideal for emergency purposes. However, you can only avail of this loan if your employer is partnered with our company.

If your employer is a partner, you need to fulfil some criteria before you are eligible. Some of these criteria are you need to be 18 years of age and have a valid employment ID. We will decide the loan amount based on factors such as credit and employment history.

Typically, you can get this loan within 6-24 hours, which makes it ideal as an emergency loan as well. You do not need to worry about any additional fees or hidden charges as the application procedure is free with us.

Weekend Loans

Weekend loans are fantastic options for instant cash for emergencies. You can receive up to 100,000 KES with us within 10 minutes! To be eligible for this, you need to be a loyal client with a currently existing loan.

Why not try some of the other loans we offer so you can be eligible for this. Who knows when you might need an emergency loan. 

Why Take an Emergency Loan from us?

Mwananchi Credit Limited companies care for you even in the worst-case scenarios by providing quick financial solutions at your doorstep. Multiple reasons would push someone to get emergency loans due to the uncertainty life presents to every person. These reasons are:

Sudden loss of jobs 

The largest source of livelihood for Kenyans is employment. Therefore, losing a job may translate to loss of livelihood as this means the basic salary is no more. No need to worry; at Mwananchi we have several sources of assistance by providing loans for projects and emergency loans at competitive interest rates. 

Serious medical expenditure

The emergence of an unexpected illness for a family member or an individual results in economic strain. Health emergencies are presented in various ways as recorded in the aspect of health systems. Therefore, emergency loans come in to lighten the burden of medical expenditure.

Car repairs 

In the event, a road accident occurs and your car is damaged. Short-term loans like emergency loans from Mwananchi Credit Limited come in handy to allow easy repair of your car. The loan size differs depending on the extent of damage in the car and the available repayment options. 

Travel emergencies 

Travelling in most cases is a planned event though in some special cases someone might be expected to travel unexpectedly for example when asked to travel for an interview. Financing in the form of an emergency loan is required and this is readily available at Mwananchi Credit Limited at flexible interest rates.

Funeral cost 

Control over the death of a loved one is beyond each person’s head and the sure response is to have a cushioning mechanism when it occurs. Financing is always to fund funerals. Therefore, getting a loan is the solution to reducing financial strain by the bereaved.

Emergency Loans Online

The world is slowly becoming a global village due to the advancement in science and technology. Mwananchi Credit Limited is well equipped with online access to emergency loans which is now a trend for services in Microfinance institutions.

Mwananchi Credit Limited offers instant loans that are readily available to Kenyans through Mwananchi Credit’s official website. On the website, you are served with various loan options for example logbook loans, car financing, cheque discounting, trade finance, insurance premium, motorbike loans, weekend loans, and salary advances.

You can make an application at your convenience, day or night, wherever you are in the country and you will be able to access funds to sort your issue of an emergency.

The loan calculators on the website help you to understand the total loan amount you will pay back inclusive of interest depending on your loan period.  

Mwananchi Credit Limited online emergency loans are in line with loan regulations put in place by the Central Bank of Kenya. Therefore, when making your online application for loans be assured that it is secure and approved by the government.

Loans Without CRB

A credit reference bureau is an institution responsible for storing information about loans to customers. This firm offers policy advice to microfinance companies on individual loans.  Credit reference bureau gives an on an individual’s credit life it can either be positive or negative.

Mwananchi Credit Limited has come up with advanced financing strategies and solutions that deal with people who have negative credit reports. For instance, by offering secured loans for requested loans. This is a financing solution that offers loans against personal assets in case a person fails to pay back the loan.

Therefore, laws and regulations that are specific to each microfinance company define whether loan applications can be done with or without a CRB clearance certificate. It is important to understand the financing regulations and policies so as to avoid any problems with repayment on time.

Frequently Asked Questions (FAQ)

Get a loan urgently in Kenya today?

Get a quick instant loan at a low-interest rate at Mwananchi Credit Limited through our official website. Our loans are affordable and easy to get. You can as well call us on 0709147000 or Email us: [email protected].

What happens if a country fails to pay back a loan defaulted from the IMF?

Investors declare bankruptcy in the nation’s courtroom when a corporation fails to pay its debts. The court presides over the process, and the company’s assets are typically auctioned to pay off the lenders. When a government collapses, however, the lenders have no recourse to an international tribunal.
When a nation borrows money from the IMF, its government undertakes to change its economic policies to address the issues that led to assistance. These policy changes are IMF loan requirements, and they assure that the government will be able to repay the loan.

Are loans a good thing or a bad thing?

Can be a wise option when you utilize a personal loan to achieve a financial goal, such as consolidating debt or upgrading your property to increase its worth. A personal loan might also be helpful for major expenditures that you don’t want to place on your credit card.
A personal loan may be an excellent alternative if you need a sudden cash infusion to pay for essential bills. Personal loans typically feature cheaper interest rates than credit cards, especially if you have a good credit score. Of course, you should carefully balance the advantages and disadvantages.

What are the reasons to transfer money to other accounts?

Money is typically transferred for various reasons, including financial planning, taking advantage of improved investment rates, making payments for products or services, bringing up the needed balance of another account, gifting someone or an organization, or saving money.

Instant loans in Kenya?

Mwananchi Credit offers instant loans at affordable rates and premiums to their valued customers through our weekend loans program. By definition, Instant loans are loans that don’t demand a lot of documents and are authorized quickly without the need to show any assets. Unlike conventional bank loans, our method is straightforward and convenient. Personal loans and rapid loans are other terms for instant loans. You may apply for a personal loan without going to a bank or filling out lengthy documents by applying online. It saves time for both the lenders and the debtors.

To sum up

There are so many unexpected things that can happen to us at any point in our life. We may find ourselves in situations where we require emergency funds. These situations can be stressful as it can be challenging to come up with the funds in such a short time. Mwananchi Credit Ltd. provides all sorts of options for you to access emergency loans at reasonable rates in a short time. We are confident that you will be happy with our services. It’s never too late to be prepared!

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