What you need to know before taking a logbook loan in Kenya

Banks have opposed a petition seeking to compel them to obtain court orders before selling off any property charged as security for loans. PHOTO | SHUTTERSTOCK

Logbook loans offered by non-bank financial institutions in Kenya can come in handy when in need of quick credit especially for small businesses. They are increasingly becoming popular among Kenyans wishing to raise large amounts of money quickly.

But they are often misunderstood.

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Note: The results are not exact but very close to the actual.