Thursday, May 07, 2020

More Lenders Affected By CBK Directive on CRB

    May 07, 2020   No comments

Credit-Only companies in Kenya
Credit-Only Companies 

It's not only the digital lenders (loan apps) that were affected by the Central Bank directive that is stopping CRB from doing business with unregulated lenders.

CBK demanded that all unregulated digital lenders and Credit-Only companies to stop accessing and submitting borrowers information from the CRB.

Commercial banks and Saccos (chama) are the only lenders still free to access and even submit borrowers information to the CRB.

But which are these Credit-Only companies? These are registered businesses providing loans to Kenyans without being regulated by the Central Bank.

We have several of these Credit-Only institutions in Kenya most based in Nairobi the Capital.They provide  awide range of secured loan facilities including but not limited to;

  • Logbook loans
  • Title deed loans
  • Salary advance 
  • LPO
  • Check Discounting 
  • Invoice Discounting 
  • Insurance Premiums loans
  • Bid bonds 
Therefore apart from the loan apps, Credit-Only companies were also affected. They cannot blacklist loan defaulters with the CRB anymore unless they choose to be regulated by CBK.

The list here is not exhausted, but here are  just some of the best Credit-Only companies we have in the nation; 
  • Platinum Credit 
  • Real People 
  • Mwananchi Credit 
  • Premier Credit 
  • Progressive Credit 
  • Mombo Investment
  • Jijenge Credit 
  • Ngao Credit 
  • Meridian Acceptances 
  • Samchi Credit 
  • Metropol Capital 
  • Edenbridge Capital 
  • Momentum Credit 


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Mwabaya Katana

About Mwabaya Katana

Mwabaya Katana is a Finance Online Researcher and Writer.He is the founder of 'Loans Kenya' Blog.

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