Logbook loans are secured loans that are taken when one needs money urgently. Many microfinance in Kenya like Bashy African Credit provides access to instant cash with minimal requirements as long as you have a logbook and the car is in good condition. Many Kenyans are turning to logbook loans instead of borrowing from friends and family members. When one business is facing financial problems or has personal financial difficulties and doesn’t have sufficient funds in their savings, logbook loans are an alternative option.
Reasons why you should take a logbook loan:
Logbook Loan for Debt Consolidation
You can have a debt that needs to be settled immediately. Taking a logbook loan is convenient to settle another burning debt because it is accessible in a short time.
Emergency logbook Loan for Medical Emergencies
You can be in a situation where you are dealing with a major health concern of your relative or yours and you need emergency cash.
You may even have the best insurance coverage but they are delaying the process. This leaves you to use your car to secure a loan.
Logbook loan for Credit Score Improvement
When you want to improve your credit score and you don’t have cash, you can use your car to get a small loan. You can use the money to pay the credit and improve your credit score.
Logbook loan for Funding your Holiday
You can plan a holiday and you don’t have immediate cash at the moment. No need to delay your holiday. You can take a loan go for your holiday and when you get the cash you had planned to use for the holiday, you repay the loan.
Logbook Loan for Expanding your Business
If you are planning to expand your business, and you don’t have cash, an emergency logbook loan great alternative. You will get money with minimal requirements.
Logbook Loan for Home Renovation
If you are renovating your house and you get stuck, there is no need to struggle. You can take an emergency logbook loan and continue with your renovation.
Logbook Loan for Moving and Relocating
You can plan to relocate and you don’t have enough budget. Taking a loan will help you move without difficulties. You can repay the loan slowly.
Instead of taking long loans that will take you time to pay, logbook loans in Kenya are becoming a trend. You can take a logbook loan with Bashy African Credit which has the simplest.