Effects of CRB – Credit Reference Breau listing in kenya
CRB is an organisation in Kenya and with one major aim of rating loan takers in the country depending on how they repay back to the respective companies. It assists lenders in the country to have some confidence in their clients whenever they issue out a loan by referring to the credit reference Bureau listing.
The listing having made it easier for lenders to trust and give out loans on the other hand it has also made it hard for the Citizens to borrow loans from other companies. This comes to the difficulty whenever one is listed for not paying loans on time. In the country Kenya if one is listed by CRB he is not capable of taking a loan unless cleared and issued with a clearance certificate.
How to get CRB clearance
For you to get the clearance you are supposed to repay the outstanding loans completely to the relevant companies or lenders. After paying outstanding loans you are now okay to go ahead and request for a clearance in a listed company for example Metropol. But this doesn’t come free since you are supposed to pay a clearance fee of not less than 2000 shillings.
Although the Central Bank of Kenya has questioned lenders from giving out or lending loans to those people with a bad CRB score, but the president had requested the listing companies to clear all citizens who are listed the year 2021 since Covid-19 Outbreak had disadvantaged them.
Considering the listing other citizens have been listed for almost 5 years but they still need to take loans in order for them to survive. Considering this point Sam Banks, mobile, lenders and cash lenders have decided to give out unsecured loans to there reliable customers.
Below is a list of companies offering unsecured loans to CRB Listed customer,
- Fuliza M-Pesa
- Tala Loans
- KCB M-PESA
- Airtel Loans
- Till Number business Loans
- Cash Loans
- Advance Salary Loans