Wednesday, September 23, 2020

9 Loan Apps Without CRB Check In Kenya

    September 23, 2020   No comments

Tunzi loan app
Tunzi Loan App formerly Utunzi Loan App

Lenders will always check with the Credit Reference Bureaus (CRB) to see how you as a borrower is performing as you interact with various lenders before making a lending decision  to you.

Borrowers hate this but it's a very important step while giving out loans. Credit History, Credit Score and Payment Performance Index are some of the important data CRB keep about a borrower.

Loan apps before Corona used to access CRB services, just like the regulated lenders in Kenya. Now all loan apps don't check CRB status before granting loans.

This move is after the Central Bank barred unregulated lenders including Loan Apps (digital lenders) and Credit-Only microfinance companies from access CRB services in April 2020.

9 Digital Lenders without CRB Check

I can say now that all loan apps (not run by commercial banks) do not check your CRB status to make a lending decision after you apply  for loans.

There are however some loan apps which just from the beginning never made lending decisions depending on CRB data. These lenders used other factors including the data on the borrower's smartphones and the information the borrower's supplied during registration.

These lenders however charged extremely high interest rates on the loan issued.

Another thing about the loan apps that never checked CRB status while giving out loans is that they normally charged some extra fees for example registration fees, appraisal fees or processing fees.

For the purpose of this article, here are the 9 (nine) loan apps that never check CRB Status;

  1. Tunzi Loan app (formerly Utunzi loan app)
  2. Fadhili Loan app
  3. Usawa Loan app
  4. Kano Loan App
  5. Upazi loan app
  6.  Dolax loan app
  7. Craft loan app
  8. Utajiri loan app
  9. Jazika Loan app
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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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