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Momentum Credit Kenya | Logbook Loans, Business & Asset Financing

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Description

Momentum Credit provides logbook loans, business loans, motor import financing, invoice discounting, insurance premium financing and other financing solutions in Kenya.
Momentum Credit offers financing services for customers looking for access to funds for personal, vehicle and business-related needs. Its logbook loans allow eligible vehicle owners to use their motor vehicle logbook as security for financing. The company states that customers can request up to KSh 3 million against a logbook, subject to its lending requirements and terms.

For businesses, Momentum Credit provides SME business loans and invoice discounting, with the latter providing businesses with access to cash against outstanding invoices. The company also offers import duty financing for customers requiring assistance with port-related charges and motor import financing for importing vehicles from markets such as Japan and the UK.

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Services

Logbook Loans

Financing secured against an eligible motor vehicle logbook for customers seeking access to funds. Momentum Credit states that its logbook loan facility can provide up to KSh 3 million, subject to applicable terms and eligibility requirements.

Quick Mobile Loans – Ezua Chapaa

Mobile-based financing designed for customers seeking a quick loan application process. Momentum Credit states that customers can apply through their mobile phones, with financing designed for processing within a short period subject to requirements.

Motor Import Financing

Financing for customers importing motor vehicles, including vehicles sourced from Japan and the UK. The company advertises financing with a 25% deposit and potential savings on import costs, subject to the applicable facility terms.

Shariah-Compliant Financing

Financing solutions structured according to Shariah principles, including facilities for motor vehicle imports and insurance premium financing.

Invoice Discounting

Business financing that allows eligible businesses to access an advance against outstanding invoices. Momentum Credit advertises cash advances of up to 85% of invoice value.

Import Duty Financing

Financing for eligible importers requiring assistance with port charges and related import costs. Momentum Credit states that its facility can cover 100% of port charges, with a maximum stated tenure of 30 days.

Insurance Premium Financing

Financing for eligible motor insurance premiums, allowing customers to pay the financed amount in instalments. Momentum's published information states that the facility currently finances motor vehicle policies and can finance up to 70% of the premium, subject to the stated minimum and maximum amounts and other requirements.

SME Business Loans

Business financing for small and medium-sized enterprises seeking funds for working capital and other business needs. Momentum Credit advertises business loans with repayment periods of up to 24 months.

Civil Servant Loans

Loan facilities for eligible civil servants, including government employees, teachers and county government officials. Momentum Credit advertises financing of up to KSh 800,000 for this customer segment.

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