One service that can give people with disabilities the extra money they need, is a payday loan service. Financial entities offer this service, which is more flexible and simple than a bank loan. Find out how it works on payday loans for people with disabilities in Kenya.
Understanding Payday Loans for People with Disabilities in Kenya
The purpose of this blog was to learn more about the process of getting a loan in Kenya and to understand how you can borrow money if you have a disability. I found it really interesting that there are different microfinance institutions and programs designed to help specific populations. For example, the LPO Financing Programme provides loans to support businesses of Persons with disabilities. These people must be registered with the National Treasury under Access to Government Procurement Opportunities (AGPO) to finance LPOs, LSOs, and Contracts awarded by Government procuring entities.
How do I apply for a disability loan in Kenya?
- Create an account within the Government of Kenya Single Sign-On portal or through an online lender
- Login to the account above to access the eFNS portal or online lender platform
- Select the “Apply now” tab
- Hit the “Submit Applications” tab and choose the persons with disability tab.
7 Top Disability loans in Kenya
- National Fund For The Disabled of Kenya
- LPO Financing
- Uwezo Fund loans
- Youth Enterprise Fund
- Women, Youth, and People With Disability County Revolving Fund
- Vision Fund Kenya
- Women Enterprise Fund Loans
Who qualifies for loans for people with Disabilities in Kenya
- Kenyan citizens with Disabilities
- Must be 18 years and above
- Register with the National Council for Persons with Disability to qualify. This is for those applying for National level funds.
- An AGPO registered Person with Disability or other registered organizations in Kenya
Requirements for loans for People with Disabilities in Kenya
- National ID and other proof of age
- Photograph ID
- Verifiable phone number
- Bank statement
- Copy of AGPO certificate or other certifications like that of SSDI (Social Security Disability Checks in the US)
- Completed application form
What Can I Use My Payday Loan for?
- To cater to an unexpected medical emergency
- Can be used to pay off extra bills
- To get your vehicle repaired
- Visit your family on a vacation
- Celebrate an occasion
- Re-do your house
How do you get a Payday loan if you are disabled?
How to get a Payday loan if you are receiving disability benefits
- You can choose to borrow from friends and family.
- Get loans from online vendors using your paycheck
- You can ask lenders to reduce your repayments.
Can I Get a Payday Loan with AGPO certificate/National Council certificate/Monthly income?
Yes, you can. If you have your AGPO certificate or earn monthly or have the equivalent of SSDI in Kenya, you can take a Payday Loan as a disabled person. Once you are able to prove to the lender that you can pay monthly, the loan will be disbursed to you.
What’s better? There are many lenders who offer funds to the disabled in Kenya. The LPO Financing Programme provides loans to support businesses of Persons with disabilities in Kenya and other platforms. Either you apply with them or check other sources within your county.
Related searches- How to start a Payday loan business in Kenya
The main takeaways from this analysis can be summed up into two points. First, payday loans for people with disabilities in Kenya are a promising industry that is growing in popularity, with the potential to spread further throughout the county.
Second, there are reasons to be optimistic about the industry’s future growth. While there are many factors that still need to be addressed before it can become more widespread and successful, there is no reason people with disabilities in Kenya should not be able to access loans just as easily as every other member of society. Currently, there are still financing programmers for them in Kenya.