When the pandemic swept across Kenya and more and more states started issuing stay-at-home orders, the country was concerned about its economic impact on small businesses.
To keep individual needs and businesses afloat, mobile loans and loan platforms still allow individual access loans. These loans were given to help people who lack funds to keep them going. The Jijenge loans platform offers various categories of loans to people.
They likened it to the best because of its consistency in serving people in different needs with suitable loans.
Here comes a concise but great discussion on Jijenge loans and all you need to know.
About Jijenge Loans
Jijenge Credit is a non-deposit microfinance lending institution with head office at Town house, Nairobi, Kenya. They have offices in Kenya, Sudan and Tanzania. Their company chain clients are SMEs and those who cannot access financial services.
Businesses in the line supplies, construction and tenders enjoy quick loans against their logbooks in less than six (6) hours and pay after 3 months.
What You Need to Know About Jijenge Loans
- Has a maximum repayment duration of 48hours
- Loan application interest rate is charged at reducing balance method
- They process loans immediately, applications are received.
- It is simple and straightforward
- You repay after 3 months
- With its flexible and longer repayment, no need to worry about loan installments
5 Products Offered by Jijenge Loans
Jijenge credit is known for its popularity in offering loan services to the citizens of Kenya. The various products they offer in Kenya are:
- Logbook loans
- Bid bonds
- Asset financing
- Title deeds/Rental income
- Import duty finance
Logbook loans
This type of loan allows you to submit your logbook so as to access a loan. The log book serves as a collateral in case of loan default. They would sell the collateral to recuperate the money as agreed when you default.
Requirements:
- Original logbook
- National ID
- KRA pin
- Recent 6 months bank statement
- Post-dated cheques
- Comprehensive and up-to-date insurance cover.
Salary check-off loan
It is offered to salary earners pending next salary pay day. You get the loan to solve pressing needs and wait till month end to clear all outstanding loans. So many employees in Kenya have benefited from this platform. All you need is to have an account with them and allow your employer to process your salary through them.
Check out KCB salary advance
Bid bonds
Bid bonds are requirements for the tendering process and are shown to the procuring firm as an instrument of assurance of capability during the selection process. The buying agency tenders the bid bond as an instrument to convince the firm that they can pay off the loan amount.
Asset financing
Here a percentage of your products or goods or project is financed by Jijenge platform. The product is always what customers go for as a measure of security of their investments.
Title deeds/Rental income
Jijenge credit limited allows you to submit your property to access a loan. When you need cash, you can sort out your needs by rendering your property as a collateral.
Import duty finance
Your import trade activities are supported by Jijenge credit limited. They add value to import business by rendering a full range of products and services. By financing up to 90% of your products makes you own varieties of products and pay back when you sell off the products.
Why you need to choose Jijenge Credit Limited
- Affordable and competitive interest rate
- You are allowed to pay for a longer period. That means you can pay little by little
- Ability to revise monthly repayment when your income changes
- Insurance with mortgage protection cover is obtained in case of death
- Permits you to transfer mortgage loans from other banks#
- Finance up to 90% of the value of the property
General documents required
- Kenyan national ID
- Tow sized passport photograph
Documents required by employed consumers
- Introduction letter from employer
- Recent 6 month pay slip
- Six (6) months salary bank statement
Documents required by self-employed consumers of Jejinge Credit
- Credit history and business background profile and registration documents
- 3 years audited accounts
- 3 years cash flow
- 12 months bank statement
- Borrowings and facilities advanced from other firms (If any)
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How to apply for Jejinge Credit Limited
To apply for Jejinge Credit, visit their office and fill the application form and know the next process.
Or
Download the Jejinge application form online, print and fill the form and return to their office.
How to contact Jijenge Credit Limited
Visit them @ Nairobi, Town House, 6th floor, Suite 605. If you wish to send them a message, email them via info@jijengecredit.com. You can call them @ 0711 282727 or 0702 282727 or 0703 282727
Conclusion
Jijenge loans offer ranges of products to their customers. They are ever ready to serve the underserved and those who have anywhere to access funds. Once you have the instruments to serve as collateral, proceed to Jijenge office and fill the application form. With Jijenge loans, you will enjoy the benefits you have been craving for. Can we talk about their easy loan application or flexible repayment? Try them out today and see the difference.