Top 10 logbook loans providers in Nairobi-April 2025 Reviews
Microfinance institutions in Kenya offer logbook loans that can be a convenient solution when quick access to credit is needed, especially for small businesses. These loans are gaining popularity among Kenyans looking to raise substantial funds in a short time.
A logbook loan is a type of secured loan where your motor vehicle serves as collateral. You don’t have to give up possession of your vehicle during the loan period. Instead, the vehicle’s logbook is updated at the NTSA to reflect joint ownership between you and the lender. Once the loan is fully repaid, the logbook is updated again at the NTSA to restore sole ownership to you.
Lenders assess the loan amount based on the vehicle’s Forced Sale Value (FSV), not its Market Value. While Market Value reflects the car’s worth in a regular sale, FSV is the estimated amount the vehicle would fetch if sold quickly. On average, around Ksh 200,000 is deducted from the market value stated in the valuer’s report to determine the FSV.
Below are some of the top logbook loans microfinance institutions in Nairobi, Kenya:
1. Mwananchi Credit Limited
Loans are typically 12 months in duration, with a maximum of 48-month contract.
- Location: Ecobank towers, 10th floor, Muindi Mbingu Street, Nairobi, Kenya
- Phone: 0709147000
- Email: info@mwananchicredit.com
- Interest Rates: Monthly interest rates are from as low as 1.6%. The specific interest rate depends on factors like the loan amount and repayment plan.
- Other Products: Title Deed Loans, Car Financing, Import Financing and Civil Servants Check Off Loan.
2. Momentum Credit
- Location: International House, 9th Floor – Mama Ngina Street
- Phone: 0796 444 555
- Email: info@momentumcredit.co.ke
- Interest Rates: Monthly interest rates are as low as 4%.
- Other Products: LPO financing and Motor vehicle asset finance
3. Platinum Credit
Their loan durations can range from 1 month to a maximum of 96 months, depending on the product.
- Location: International Life house, Mezzanine Floor
- Phone: 0709 900 000 / 0730 900 000
- Email: online@platinumcredit.co.ke
- Interest Rates: Monthly interest rates range from 3.5% to 5%
- Other Products: Civil Servants Check Off Loan, Direct Import Financing, Landlord Loans, Dairy Financing, and Insurance Premium Financing
4. Jijenge Credit
These loans can be accessed within 1 hour and have repayment periods of up to 60 months.
- Location: Kaunda Street, Town house, 6th floor
- Phone: 0711282727
- Email: info@jijengecredit.com
- Interest Rates: Monthly interest rates are as low as 4%.
- Other Products: Title Deed Loans, LPO Financing, Asset Financing, Trade Finance, Civil Servants Salary Check-off loans, Rental Income Loans and Import Duty Financing
5. Springboard Capital
- Headquarter: CPA Center, 3rd Floor, opposite the Survey of Kenya,Thika Road, Nairobi, Kenya
- Town Branch: Cargen House, Mezzanine Floor, Harambee Avenue, Nairobi CBD.
- Thika Branch: Sawa House, 1st Floor, Kwame Nkrumah Rd, Thika Town
- Phone: +254 011 10 42 700
- Email: info@springboardcapital.co.ke
- Interest Rates: 6.5% monthly flat rate
- Other Products: Check-off loans and Import Duty Finance.
6. Lin-cap Credit
- Location: Lonak Business Center, Mwiki Road, Kasarani
- Phone: +254 759 636 818 / +254 722 460 907
- Email: info@lin-cap.com
- Interest Rates: Monthly interest rates are as low as 4%.
- Other Products: Asset Financing, Landlord Loans and Import Financing
7. Progressive Credit
- Location: Flamingo Towers, 2nd Floor, Mara Road, UpperHill, Nairobi, Kenya
- Phone: 0700 600900 / 0730669000 / 0789796477
- Email: info@progressivecr.com
- Interest Rates: Monthly Interest rates from just 4%
- Other Products: Civil Servants Check-Off Loans, Asset Finance and LPO Financing
8. Phoenix Capital Limited
- Head Office: 8th Floor, The Arch Place, Nyangumi Road, Kilimani, Nairobi, Kenya
- Town Branch: 12th Floor, Finance House, Loita Street, Nairobi, Kenya
- Buruburu Branch: 2nd Floor, Fairlane Center, Suite 213
- Phone: 0700 600900 / 0730669000 / 0789796477
- Email: info@progressivecr.com
- Interest Rates: Monthly Interest rates at 4%
- Other Products: Civil Servants Check-Off Loans, Insurance Premium Financing, Asset Financing and LPO Financing
9. Makao Capital Limited
- Headquarters: Ann’s Arcade, Biashara Street, Kiambu Town, Kenya.
- Kitengela: Betty Business Centre, Above Family Bank
- Phone: 0707-544-700 / 0731-831-577 / 0725-705-970
- Email: info@makaocapital.co.ke
- Interest Rates: Monthly flat interest rate of 5%
- Other Products: Car Loans, Boda Boda Loans and Asset Financing
10. Ngao Credit Limited
- Nairobi Upperhill: NHIF building, 2nd floor
- Nairobi CBD: Eco Bank Towers, 6th Floor
- Kitengela: Kitengela Mall, 3rd Floor
- Phone: +254 709 650 000
- Email: info@ngaocredit.com
- Interest Rates: Monthly Interest rates from as low as 3.5%.
- Other Products: Car Finance, LPO Financing, Import Duty Financing, Buy-Off Loan and Insurance Premium Financing
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