Logbook Loan

This is an emergency loan secured by your truck logbook. The loan is processed within 24 Hours and helps enhance the liquidity of the truck owner. Upon successful loan application the truck owner will be required to vtake his/her vehicle for valuation through an approved valuer. The loan amount will be subject to the valuation report. One will also have to take comprehensive insurance with the interest of the finacier duly noted.

The loan repayment is done on a monthly basis for a maximum of 24 months.

Requirements

Roadworthy Truck

One has to be the sole owner of a truck in good mechanical condition.

Original Logbook

You'll have to provide original logbook required for charging through NTSA TIMS.

National ID

Original ID and Copy of your national identity card

Passport Photos

3 Coloured Passport sized photos

KRA PIN

Copy of Your KRA PIN certificate

Cheques

Post dated cheques matching monthy loan repayments.

Related Loan Costs

1. Valuation
( Ksh 4500) paid upfront to facilitate valuation and search.

2. Interest
5% p.m. On flat rate basis is taking for a period of 1-6 months.

7-24 months= 3% p.m on flat rate basis.

3. Tracking.
2,000 p.m or 20,000 p.a.

4. Comprehensive Insurance
In the event your car is not insured. We pay upfront then it is included to be paid as part of the loan.

5. Fees deducted Upfront.
5% – Processing
1.5% – Insurance
3000 – Incharge
1500 – Legal Fee and Documentation.