Jijenge Credit is a non-deposit Micro Finance Lending Institution with approximately 10,000 clients in Kenya, Sudan, and Tanzania. Its headquarters are in Nairobi, Kenya, at Town House. Among their loan products is the Jijenge Credit Logbook Loan.
They have capitalized on the growing demand for microfinance products, particularly among SMEs, the company’s primary client. Jijenge Credit strives to assist those who are unable to obtain financial services.
This article will however focus on the Jijenge Credit Logbook loan product.
How to Access Jijenge Credit Logbook Loan
The LogBook Loan is a loan secured by the value of your car. This loan can be used for anything and is great for anyone wishing to develop their firm, explore new initiatives, or supplement working capital cash flow deficiencies.
A loan appraisal process is applied to all Logbook Loans. Once a loan is accepted, it will be disbursed within 24 hours via Mpesa, cheque, or bank account.
Anyone who owns a personal, commercial, or passenger transportation vehicle can access the Jijenge Credit Logbook loan facility. Loans can be secured against multiple cars at the same time.
Loan Application Requirements
- 6 Months Bank & M-Pesa Statements
- 2 Clear copies of the original ID.
- Copy of KRA Pin.
- One recent color passport-sized photographs
- Original Vehicle Logbook
- Valid Comprehensive Insurance cover.
- Motor valuation report/ Renewal Notice
- Sales Agreement
- The Loan Tenure is up to 24 Months
Loan Payment Terms
The repayment period ranges from one to twenty-four months.
There are no penalties for paying off your debt before the end of your contract period.
Amounts
Minimum loan amount: Ksh. 50,000
Maximum loan amount: Ksh. 10,000,000
How to Apply
- Navigate to the Jijenge Credit Website
- Go to Products and click on Logbook Loans
- On the bottom of the logbook loans page, click Apply Now
- Fill in the form that will appear
- Wait for the response within an hour
To apply offline, visit the Jijenge credit branch near you with your car logbook and ask to apply for a logbook loan. You will be taken through the process and if you qualify, you can walk home with the loan in your account.
Read also, How to get Platinum Credit Logbook Loan