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Tala Loans Not Instant This Coronavirus Pandemic

Tala

Tala mobile will not be giving instant loans during this era of economic uncertainties caused by the COVID-19 pandemic .

The mobile money lender has shown to be taking up to 10 days before coming up with a lending decision even if a borrower had a good credit score and repayment history.

Read ; Loan Apps Reduce Lending

Tala depends on customer's own trust to repay the loans and its risky. The government suspended CRB blacklisting recently. This means borrowers will take long before repaying the loans and it will not be a profitable business move.

Carbon, another mobile money lender announced limit both the number of loans and the amount disbursed to avoid placing loan burdens on borrowers who are already shaken up by the COVID-19 pandemic .
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