Mwananchi Credit has been awarded the Best Land Title Based Financier at the 4th Annual Real Estate Excellence Awards held in Nairobi. This is in recognition of the financier’s increasingly popular title deed financing product.
The award comes hot on the heels of winning the Best Logbook Loan Financier during the Annual Automotive Industry Awards held two weeks ago. This particular win is a demonstration of the company’s innovative spirit, which has seen it step up its lending efforts by diversifying borrowers’ surety or collateral.
Accepting the Award, Mwananchi Credit’s Head of Operations Edwin Kagiri said: “At Mwananchi Credit, we are well known for our Logbook Loans and Asset Finance products. However, we quickly did our research and noted that we were locking out quite a big bunch of potential credit worthy clients who may not have a car but have land and property. Through our title loans, we have enabled many to raise capital to run their businesses or even to complete developing some of those properties to increase their value.”
Mwananchi Credit was uniquely noted for the innovative category of title loans known as Landlord Loans, in which it gave landlords loans without even fully charging the property by using a simple title deed deposit and a rent repayment agreement deed.
This product has enabled many property owners to take loans for renovations and other related expenses. Further, the company was also recognized for speeding up the process of disbursing title deed loans from an industry average of 90 days to as little as 14 days.
Mwananchi Credit is one of the leading logbook loan providers in the country. Its diversified product portfolio includes title deed loans, civil servant salary check-off loans, import financing and asset financing among others.