It is very common for any person to find him/herself in an unavoidable financial crisis. To manage such a circumstance, a person needs to gather funds as fast as possible which could be quite challenging in situations where there is no digital lending or quick loans. Today, the scenario has changed due to the changes in technology which has taken the lives of people to a whole new level. After applying for a loan, it is now easy to get the money in only a few minutes.
Thus, a quick loan is a phenomenon that is currently very new in the financial realm. It has become one of the most useful methods for many people to meet their urgent monetary needs. The loan come in the form of short-term loans, line credit among others. Therefore, a person chooses the option that is suitable for his needs.
Reasons Why Quick Loans are the ideal
Quick loans are very ideal from the traditional loans that were offered by the banks and other financial institutions. As a result, the financing procedure can be completed in a matter of minutes;
- Easy Registration Process: A person is just required to register with the lender who will avail of the quick loan. The process is very easy and there is no physical documentation that is needed. However, personal details, income, employment, and credit history may be needed during the registration.
- Quick Verification: Your details are quickly verified by the lender immediately after you have registered. Later, the loan is processed for approval.
- No Collateral: When taking the quick loan, there is no collateral that is needed to be pledged to secure the loan as it is an unsecured loan.
- Interest Rate: Due to the unsecured nature of the rapid loan, the interest rate is slightly higher to reflect the risk associated with the lending procedure.
- Tenure: The quick loans have a short repayment period where the maximum period is usually 2 years and the minimum is 1 month. Thus a person is required to choose a loan that offers them a comfortable repayment period.
Quick loans offered by Mwananchi Credit
Logbook Loans
With the rise of the number of vehicle owners in Kenya, logbook loans have become a very convenient financing option. These owners can easily get finances using their vehicles. Within 6 hours of applying for the Logbook loan, it is possible to get the finances that you need from Mwananchi Credit. The Company offers loans of up to 25 million with an interest rate of 1.5% which is very affordable for the vehicle owners and the loan repayment period is up to 48 months.
In order to apply for these loans, visit the Mwananchi Credit Branches which are located at Nairobi, Mombasa, Kisumu, Eldoret & Thika. You can also apply for the loan through our online platform by visiting our website and we will process your loan within 6 hours.
Car Financing
Car Financing has become one of the easiest ways for a person who does not have enough funds to own a car. This is due to the fact that there is the provision of automobile financing by many financial institutions and lenders in Kenya. The borrowers are now able to get the best deals when it comes to car financing regardless of the make of the car, model, dealer, or year of manufacture. The reputable institutions provide these loans at an affordable but competitive interest rate with a very flexible repayment schedule.
Mwananchi Credit has made it very easy to apply for a car loan. The reason why you should choose Mwananchi for a car loan is that we help you make this decision by simplifying all the hustles for car applications for you.
You should focus on different factors of any loan before applying for it in Kenya as it should not affect your finances. Therefore, it is quite a challenge to find a loan that suits your needs in the best way possible. At Mwananchi Credit, we eliminate all these situations as we meet all your needs that range from the provision of a fast car loan that has better rates to a very flexible repayment program. At Mwananchi Credit, we allow different types of people to apply for a car loan.
The process of application is straight forward and it involves a very quick turnaround time for the preapproval and approval of the loan. Also, we enable you to get comprehensive options of car financing that are fast, convenient, and very affordable.
Motorbike Financing
The cost of a common Boda Boda that is used in Kenya ranges between Kshs. 80,000 to Kshs. 150,000. Mwananchi Credit offers you this loan at very affordable terms in all our branches. We only need you to make a down payment of Kshs. 15,000 and we avail the loan to you which you can repay within the agreed time.
Title Deed Loans
To take advantage of any business opportunities that are emerging, Mwananchi Credit is always ready and willing to provide a working Capital for you as an individual or the small and Medium Enterprise. The processing period of the title deed loan is 2 weeks and it can be repaid back within 3 to 12 months. This loan has an APR of 20% which is equivalent to 1.667% every month.
To qualify for the loan, you are required to be an adult who is less than 65 years of age, salaried, or a self-employed professional/non-professional during the maturity of the loan.
The Requirements for Asset Financing
- Six months and certified bank statement
- KRA and ID copy of the applicant
- Passport photos
- Sale agreement
- Proforma invoice
Counties Which You Can Get Quick Loans in Kenya
To apply for quick loans at Mwananchi Credit Limited, visit our branches which are located at Mombasa, Nairobi, Thika in Kiambu, Kisumu, Eldoret, and Nakuru Counties.
You can also visit our website to apply for quick loans via the Online platform.
Therefore, in case you are in need of quick cash, Mwananchi Credit is here to help. Click here to apply online or call 0709-147-000 and will be happy to serve you!
