Emergency loans are driven by unexpected situations. Some are medical emergencies that need to be attended to immediately without fail, while others are motivated by business opportunities and the window for these emergencies are often very small.
Mwananchi credit limited is the only credit company in Kenya currently offering emergency loan facilities in 6 hours. Through our 3 step process of Valuation, Documentation and Disbursement, we have innovated the traditional loan process making sure emergency loans are disbursed conveniently 6 hours after application.
The client typically has an idea of how much he or she wants to secure for the car loan, during this negotiation phase we request the customer to share with us the details of the vehicle before we proceed with the valuation. This will make us have an informed idea of how much the client can qualify for the emergency car loan. The negotiations are normally around the amount qualified for and the repayment period and a customer is normally given options before he or she decides.
Emergency loan Security
These emergency loans are secured either by using a logbook, a title deed or in the case of civil servants their salaries. From the moment you contact Mwananchi Credit, the three step process is activated and you’re just 6 hours away from getting your emergency loan.
Step 1 : Valuation
Once a customer contacts Mwananchi credit for an emergency loan, we begin the loan process by doing valuation. For a case in which a logbook is presented as the security, we proceed to the process of getting a car loan. The client is required to pay Ksh 4000 to a paybill account number. After confirmation of payment, our valuers contact the client and proceed to do a valuation within the hour, going wherever the clients finds comfortable hence not interfering with the clients busy schedule. Valuation is the first step in getting an emergency car loan in 6 hours.
Step 2 : Documentation
Documentation is a crucial part in applying for emergency loans. We have a document check list for the emergency car loans which is forwarded to the customer immediately after the customer pays for valuation. Mwananchi credit has enabled the customer to share the documents online on email or Whatsapp while still maintaining confidentiality of the documents. The documentation process for the emergency car loan varies from client to client depending on document availability. With all documents on the car loan checklist the process can take 1 hour after which the client is invited to the office to sign the loan form which also typically takes less than 1 hour. This puts Mwananchi credit on its way to offer emergency loans in 6 hours.
Step 3 : Emergency Loan Disbursement
Emergency loans should be paid conveniently to sort out the various emergency situations a customer finds him/herself in. This is the last step in offering emergency car loans at Mwananchi credit. At this stage all the documentation has been verified and the customer has chosen a mode of payment and confirmed the account details. This is a crucial step in the emergency car loan process and it typically takes less than an hour.
Our 3 step emergency loan process though only 6 hours long, takes into account all due diligence. We keenly perform all checks in line with the financial practices and are open and transparent with all our customers every step of the way.
Emergency Loan Interest from 1.5%
Mwananchi credit offers emergency loans at the most competitive interest rate in the market while making sure your emergency is sorted in 6 hours. Whether it’s a car loan or a check off salary advance, we are committed to make sure our clients receive money in their accounts conveniently within 6 hours