How to Get a Mogo Boda Boda Loan in Kenya

Are you wondering how to get a Mogo boda boda loan in Kenya? I guess this article will be good for you. The level of unemployment in Kenya is rising steadily due to a large number of youth coming out of schools into the already flooded job market. The situation is even made worse by the rising cost of living and inflation, forcing some companies and employers to lay off staff.

Many people are therefore resulting to self-employment through technical skills or through the service industry. The boda boda sector is one of the ventures that have acted as a remedy to unemployment in this country.

However, with the current hard economic situation in the country, it can be hard to buy food, let alone buy a car or motorbike. Boda boda loans have come to the rescue of thousands of youth, thanks to boda boda financing companies like Mogo and M-kopa.

Owning a boda boda has become easy nowadays and anyone willing to acquire one can do so in less than 24 hours so long as they meet the requirements that these companies provide.

This article takes you through how to get a boda boda loan from Mogo, a leading car and boda boda financing firm in Kenya.

MOGO is a leading automobile and boda-boda finance provider in Kenya. It is a subsidiary of Eleving Group, a global FinTech company with operations in 15 countries across three continents. Over the years that they have been in business in Kenya, the company has earned a reputation as one of the most dependable bodaboda, tuk-tuk, and automobile financing companies in East Africa.

They offer low-interest finance for old automobiles, logbook loans, Boda Boda, and Tuk Tuk loans.  For instance, you can acquire a Boda Boda within 2 hours thanks to their speedy and flexible service.

Without much ado, let us dive right into the process of acquiring a boda boda loan from Mogo Kenya.

Requirements when applying for a Mogo Boda Boda Loan

To get a loan with MOGO, you need to meet these criteria:

  • Provide 6 months’ M-PESA statement
  • Provide National ID
  • Own KRA Pin
  • Be 23 – 65 years old
  • Have 1 guarantor
  • KES 25,000 down payment

Read also List of Boda Boda Loan Providers in Kenya

How to Get a Mogo Boda Boda Loan in Kenya

1. Visit a Mogo branch near you and select a boda boda of your choice

The very first step is to visit the nearest Mogo branch and ask to be shown the various types of motorbikes that have on the boda boda financing plan. You can then choose the model you want from the various choices available.

2. Choose loan conditions 

The second step is to choose the loan conditions of the boda boda you want. Loan conditions are available in different categories. You will then select a loan term ranging from 52 weeks to 112 weeks as you would prefer.

3. Fill in Your Contact details