More often than not, deciding to get a loan is usually the last option to give you a financial breakthrough on a certain financial mishap. Most people fear exposing their financial life to a stranger when applying, not to mention the fear of being turned down. Sure, such reasons can hinder you from taking the steps necessary to get a loan online. However, before you give up and continue struggling financially, there is good news for you.
At Mwananchi Credit, you get a loan without much struggle and pay it with ease. There is no fear of being declined since there are many ways to prove that you deserve the loan. Additionally, you do not have to wait for a long time after applying for the loan to get the money in your account. Here is more information on what it takes and steps to follow when you need a loan at Mwananchi.
Get a loan online from Mwananchi
Are you thinking of how to get a loan using my car as collateral? If yes, you apply for a logbook loan. It is a great option to use, especially if you need the loan you are applying for quickly. At Mwananchi, you get a loan instantly that is up to 90% of your car value.
The loan interest can be as low as 2.5% based on the amount you loaned and the repayment plan you are using. In case you have more than one car, you can combine several logbooks to increase the amount of money you are eligible for. After you present your loan request, you receive the loan in about six hours.
The process followed when applying online for logbook loans is:
- Visit the Mwananchi Credit site and go to the logbook loans options. Fill in the calculator module and state the loan amount you need and the time you expect to pay this loan.
- Fill in the required fields with personal details such as I.D. number, email, name, and phone number. You can also fill in a PROMO CODE if you have it on.
- Submit your application, and someone will contact you within 30 minutes during working hours.
- If approved, you receive a contract to sign, and you receive the loan in your account within six hours.
The documents that you need to provide when applying for this loan include
- Your KRA PIN
- Original logbook
- Six months banks statements
- Two passport size photos
- Comprehensive insurance certificate cover
- Your original I.D.
The repayment plan for the loan goes up to 24 months. Therefore, you can choose the repayment method you are most comfortable with within this time. There is no minimum period given to repay the loan.
A car financing loan is a loan that helps you buy a car when the funds you have on your end are inadequate. With the car financing option, you get fast, affordable, and reliable loans that will help you drive your car within a short time.
The application process is a walk in the park, and the preapproval waiting time is highly reduced. Additionally, you can receive a loan of up to 25 million, which allows you to get your dream car without any financial restrictions.
You have up to 24 months of the loan repayment after you apply for the car financing loan.
Import financing loans help you import products such as raw materials, electronics, machinery, and second-hand clothes, among others. You pay a deposit of 30% of the total value of the product you intend to import Mwananchi credit handles the rest. To get this importing loan, you need to have:
- Import declaration form
- KRA pin and I.D. copy
- Bill of lading
- Export certificate
When working with these reliable partners, you can receive the products you are importing, such as second-hand cars, within 45 days after submitting your application.
Salary Check-Off Loans
Salary check-off loans are available to be paid monthly, such as teachers employed by the Teachers Service Commission, health workers employed by the government, and policemen employed by the National Police Service. To apply for this loan, your employer should be a member of the Mwananchi Credit partner.
Additionally, you need to have a national I.D. and have a social security number. Other factors that determine whether you qualify for the loan include verification of employment from your employer and your credit history.
The interest rate for the loan is based on your employment and credit history. If you qualify for the loan, you get a loan quick, in about 6-24 hours.
Title Deed Loan
A title deed loan is a loan that you receive using your title deed as collateral. To receive this loan, you should either be employed with a constant salary or be self-employed. If you are a salaried employee, be at least 60 years old. On the other hand, if you are self-employed, you should be at least 65 years old. To apply for this loan, you need to provide:
- Sale agreement
- Six months of certified bank statements
- Copy of KRA PIN and I.D.
- Passport photos
- Proforma invoice
The amount of loan you can receive using your title deed is determined by your repayment capacity. To help determine this, factors considered are your salary, assets, spouse’s income, and age. Repayment of the loan is in equal monthly installments starting from the month following the time you receive the loan.
Trade finance loans help you expand business activities, assist customer tenders, or perform tenders. Additionally, if you want to get a loan to start a business, you apply for a trade finance loan.
A bid bond is a percentage of the bid price in the tendering process. The bid bond could turn out to be a huge amount that could significantly reduce the amount you spare for your business. You can get the bid bind prepared at Mwananchi credit in about 30 minutes and at a negotiated price.
L.P.O. financing is short-term loans that you repay in about three months. You can get the L.P.O. financing at Mwananchi credit. However, you need to secure the loan either using a logbook or title deed. Additionally, you need to have evidence of similar past jobs done, an original LPO contract, and a Pro-forma invoice for the goods you intend to supply.
These are also short-term loans to pay within a month. To receive the loan, you need to provide the latest bank statements, delivery note for the goods supplied, letter of assignment of the receivables, copy of the original invoice duly acknowledged by the procuring entity.
A business loan is a loan intended for business. To receive these loans, you need to prove your capability of paying back the loan. Additionally, you need to have experience in business, which you will have to prove, and have insurance in case of permanent disability or death. As long as you can prove that you can pay back the loan, you complete the rest of the process in a few days.
Personal loans are loans that you receive to help you solve your personal needs. This could need such plans that you made but are about to get shut due to lack of funds. More often than not, personal loans are short-term loans and require no security. To apply for the loan, visit the online portal, follow the given steps and receive the loan within a few hours after approval. You can also learn why get a personal loan here.
Like personal loans, weekend loans help you save plans that you made but are now about to fail due to lack of funds. At Mwananchi credit, you can get weekend loans of up to 100,000. However, these loans are available only for customers who have an existing loan with us. When you apply and qualify for this loan, you receive it within ten minutes of your application.
Get a loan F.A.Q.S
Where Can I Borrow Money ASAP?
If you need instant loans, you can apply Mwananchi credit loans. As soon as your application is approved, you can receive the money in your account within six hours.
What Is the Easiest Way to Apply for A Loan?
The easiest way to get a loan in Kenya and best place to get a loan is to apply for one through online sites like Mwananchi credit. Provide the necessary details and documents, and you receive the loan within hours.
How Can I Get a Quick Loan in Kenya?
In Kenya, you can get a quick loan by applying for quick Mwananchi Credit loans.
Will Mwananchi Credit Let Me Borrow Money?
As long as you qualify for the money that you intend to borrow, Mwananchi Credit will never deny you a chance to borrow money with them.
How Can I Get Instant Loans Online?
Using your phone, you can search on the sites that provide instant loans. Give the necessary information to help determine whether you qualify for the loan and if you do; you receive it within a short time.
If you are thinking of how to get a loan, Mwananchi credit is the first place you should visit. We have fast loans with affordable interests and repay times. Contact Mwananchi Credit for to apply for loans.