Frequently Asked Questions
1. Who Qualifies for a Loan with Elevate Credit?
- Inua Salo Loans– This loan facility is given to employees from Private companies who have signed an MoU with Elevate Credit.
- Logbook Loans– This is a loan facility given to Private car owners in employment or private car owners running their own businesses.
- Invoice discounting Loans – This is a loan facility given to Individual or SMES who supply goods and services to businesses and institutions that have signed an MoU with Elevate Credit.
2. How do I Apply For A Loan?
- You can apply for a loan by contacting our call center on 0114496184 or 0741782186.
3. What is Elevate credit lending interest rate?
We have a flexible interest rate which is dependent on the product one takes. Refer to our various products on our website or visit any of our branches for more clarification.
4. What is the term for borrowing a loan?
- Inua Salo Loans– the borrowing term ranges from 1 month to a maximum of 12 months. (Period will change depending on the terms of the MOU signed)
- Logbook Loans– The borrowing term ranges from 1 month to 12 months.
- Invoice discounting Loans– The borrowing term ranges from 1 month to 3 months
5. How much can I qualify/borrow from Elevate Credit?
- Inua Salo Loans– You can get a loan amount of KSh 5,000 up to 1 Million depending on your pay slip affordability.
- Logbook Loans- You can get a loan amount of KSh 100,000 up to 5 Million depending on your MPesa/bank statement.
- Invoice Discounting Loans– You can get a loan amount of KSh 50,000 up to 5 Million depending on your Approved Invoices.
6. How long does it take for me to have money disbursed to me?
Payments are made either through MPesa or Direct Bank Transfer. The transaction period is dependent on the loan you have taken from 24-72 hours.
7. Can I qualify for a top up loan?
Yes, Elevate Credit offers a top up on the loan.
8. Do you Offset loans from other institutions?
Yes, we do.
9. Is one in a position to clear their loan before the term ends?
Yes, you can settle the loan at any given time.
10. Is interest on a reducing balance?
This is dependent on the product one takes.
11. Can I re-pay my loan by monthly payments by paying directly from my bank account?
Yes you Can.
12. What is your turn around time?
This is dependent on the type of loan one has taken and if they have complied with the requirements upon submission and KYC has been completed.
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