This is Why Digital Lenders Will Deny You Loans

Loan Apps or Digital Lenders are now after bringing decency and transparency  in the digital lending market in Kenya.

Through a recently formed body DLAK (Digital Lenders Association Of Kenya), members will now have to follow a Code Of Conduct in delivering financial services to the people of Kenya.

This Code of Conduct defines a lot on how the Digital Lender Institutions (DLIs) will work and one of the aspects here is 'why to grant or deny loans '.

I went through the 'code of conduct'  and here is why a loan app or digital lender won't give you a loan;

• If the lender proves that you'll be unable to repay.
• If you have overdue loans of above kes 10000 and 60 days (2months)
• If you borrowed four (4) loans in the last 3 months and are not paid. 
• If you refuse to accept the terms and conditions. 
• If you already have a loan ,you won't get a new loan unless it's a consolidation or top up
• If you are negatively listed by the CRB (external databases)

Now according to DLAK , these are the reasons why Digital Lenders in kenya will deny you loans. There are other reasons however, which can affect the lender's decision to grant or deny you a loan .

Read now ;  What I learnt about loan apps in Kenya 

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