EXPLAINER: How Logbook Loans Work and Everything You Need to Know
submitted 7 months ago by Samuelwriter_ke
submitted 7 months ago by Samuelwriter_ke
- Access to credit is a challenge for many Kenyans, especially for individuals and small business owners who need quick financing.
- Logbook loans offer a faster and more flexible alternative to traditional loans, allowing car owners to borrow money using their vehicle as collateral while still using it.
- However, borrowers should be cautious as failure to repay the loan can lead to repossession, and interest rates may be higher than those of traditional financial institutions.
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