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Loans for freelancers and business people
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onmywaytowealth
#1 Posted : Thursday, August 11, 2011 2:55:24 PM
Rank: New-farer


Joined: 7/4/2011
Posts: 24
Hi everyone,
What are some avenues that freelancers and business people can use to access loans? I am asking this because many financial institutions prefer giving loans to salaried people. Can I get loan through my shares? Please help
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vestor
#2 Posted : Friday, August 12, 2011 10:39:39 AM
Rank: Member


Joined: 11/9/2010
Posts: 132
onmywaytowealth wrote:
Hi everyone,
What are some avenues that freelancers and business people can use to access loans? I am asking this because many financial institutions prefer giving loans to salaried people. Can I get loan through my shares? Please help

Yes you can. Equity bank will give you 50% of the value of your shares. You will need to transfer the shares you will use as security to Equity bank broker.
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katyny
#3 Posted : Tuesday, October 11, 2011 3:36:48 PM
Rank: Hello


Joined: 7/20/2011
Posts: 1
You can also contact Lions Capital Limited. They have a product that allows you to get finance against shares or unit trusts.
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Thiong'o
#4 Posted : Wednesday, October 19, 2011 3:14:18 PM
Rank: Member


Joined: 10/14/2011
Posts: 661
@ onmywaytowealth

Try Jamii bora bank. They give loans to groups of 5 members; the members register a group name with the bank and save consistently for 6 weeks to qualify. To get the loans members guarantee each other.

The starting amounts might be kidogo..… but I suppose that’s how you start on your way there…..

NB: I have NOT used this facility but maybe someone here has.
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Cde Monomotapa
#5 Posted : Wednesday, October 26, 2011 5:43:13 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
In the broader sense..loan sharks are at hand too smile
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mapozi
#6 Posted : Monday, March 12, 2012 9:12:05 AM
Rank: Member


Joined: 4/21/2011
Posts: 119
@ Cde Monomotapa,
Where can one get a loan shark?
Wazuans, any more ideas please?
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wa P
#7 Posted : Thursday, March 15, 2012 5:06:03 PM
Rank: Member


Joined: 5/26/2009
Posts: 326
Location: Nairobi
mapozi wrote:
@ Cde Monomotapa,
Where can one get a loan shark?
Wazuans, any more ideas please?


Get in touch nosknosk at g mail for good details.
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Engine
#8 Posted : Wednesday, March 21, 2012 12:35:56 PM
Rank: Member


Joined: 4/26/2008
Posts: 90
Join a relevant sacco and contribute for 6 months then you can borrow 3 times the amount saved.
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seeker*
#9 Posted : Thursday, March 22, 2012 12:27:16 PM
Rank: Member


Joined: 9/11/2009
Posts: 132
Location: nairobi
mapozi wrote:
@ Cde Monomotapa,
Where can one get a loan shark?
Wazuans, any more ideas please?


PLEASE NO! IF YOU DON'T WANT TO GET INTO AN EARLY FINANCIAL GRAVE---AVOID. and yes, the caps lock is intentional.
banks don't prefer salaried people only,they prefer to loan to businesses that have run for a minimum of 6months.
Try the barclays unsecured loan they ask for an extra 1000shs per month payment on top of monthly interest payments.They are bad but not as bad as loan sharks.
Don't fight a battle if you gain nothing by winning.” Erwin Rommel
When I was a child, I spoke like a child, thought like a child, and reasoned like a child. When I became an adult, I no longer used childish ways.
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