Microloans in Kenya

With Equity’s Eazzy Loan, you can borrow from KES 1,000 to KES 3 million, straight to your phone via Equitel or the Equity mobile app, no paperwork or guarantors needed. Repayments run from a few days to 24 months, depending on the loan size, and approval happens in minutes if your account’s active.

I’d take Equity’s microloan any day — it’s fast, fair, and doesn’t ask for drama when all you need is to keep your hustle moving.

Through KCB M-PESA, you can borrow anywhere from KES 100 to KES 1 million, directly on your phone. The loan runs for 30 days, with charges ranging from 7.35% to 8.96%, and repayment is done via M-PESA — fast, clean, and no paperwork.

I’d say KCB’s microloans are built for the real world — quick for emergencies, solid for business, and clear enough for anyone running a serious hustle.

Co-op Bank offers personal loans starting from KES 50,000 up to KES 8 million, with flexible repayment periods going up to 96 months. Whether it’s for school fees, business needs, or emergencies, the loan hits your account in as little as 48 hours, and no guarantor is needed for most applications.

I’d take this loan — it’s clean, flexible, and the quick processing time makes it a lifesaver when you’re under pressure.

Faulu gives you access to loans from as little as KES 10,000 to as much as KES 5 million, with repayment spread across 6 to 48 months depending on your cash flow. Interest starts from around 1.5% per month, and borrowers can apply individually, in groups, or through business setups.

I’d go with Faulu if I’m building a small hustle or working with a chama — it’s straightforward, accessible, and made for the everyday Kenyan.

With KWFT’s Biashara Loan, women in business can borrow between KES 10,000 and 500,000, repaid over 12 months, with low processing fees (1–1.5%) and an insurance cost of around 1.25%. For those improving their homes, the Nyumba Smart loan comes in handy—no land title needed, and repayments are structured to match your pace of building or renovating.

I’d go with KWFT, especially for small business or home projects—the system is built with real-life Kenyan women in mind, not just numbers on paper.

Rafiki offers business loans ranging from KES 100,000 to 2 million, with repayment periods of 1 to 24 months, and interest charged on a reducing balance at about 19–23% per year. For quick top-ups, the Lipa na Rafiki service lets you access up to KES 300,000 straight from your phone, based on your account activity and transaction history.

I’d go for Rafiki’s loan — it’s built with serious small business needs in mind, and you don’t have to jump through hoops to get funded.

With SMEP, you can borrow between KES 25,000 and KES 3 million, repay it over 1 to 36 months, and enjoy a one-month grace period before the first instalment kicks in. Whether you’re borrowing solo, as a chama, or through your small business, SMEP keeps interest on a reducing balance, meaning you only pay for what’s left—not the full amount.

I’d back SMEP any day—it’s simple, structured, and speaks to people running real businesses with real needs.

Unaitas gives members access to loans up to KES 5 million, with repayment periods of up to 96 months, and no collateral needed for salaried folks under check-off plans. For chamas and organised groups, the Maono Loan goes up to KES 300,000, with flexible repayment options—monthly, weekly, or even daily.

I’d pick Unaitas because it’s straight-talking, reliable, and actually works for both office workers and community hustlers trying to do something big.

With Stima SACCO’s Flex Loan, you can borrow up to KES 1 million, pay it back over 2 to 4 years, and enjoy a reducing balance rate of 16% (2 years) or 18.5% (3–4 years). Bigger borrowers can go for the Vuka Loan, which stretches up to KES 5 million, with repayment terms of up to 6 years—just make sure you’re saving at least KES 7,500 monthly to qualify.

I’d go with Stima SACCO — the loan structure makes sense, and they’ve built it around the real pace of Kenyan life, not just cold numbers.

Mwalimu National SACCO offers microloans ranging from Ksh 150,000 to Ksh 5 million, payable within 3 to 5 years. The interest sits at 1.25% per month on a reducing balance, and approvals depend on your salary and savings record with the SACCO.

I’d say this loan works well for people who’ve already built something and are ready to scale—it’s fair, flexible, and priced right.

Momentum Credit dishes out microloans from Ksh 10,000 to Ksh 500,000 through their “Ezua Chapaa” product, with approvals sorted in just 6 hours and repayments stretched up to 36 months. For bigger needs, their logbook loans go up to Ksh 2 million, processed in under 24 hours, secured by your car and a valid insurance sticker.

This kind of loan works best for people who need speed and flexibility, but you’ve got to be sharp with your repayments or you’ll feel the pinch.

With Jijenge Credit, you can get a microloan from as low as Ksh 50,000 to as high as Ksh 10 million, backed by either your logbook or title deed. They process loans in about one hour, with monthly interest starting at 3.75%, and give you up to 60 months to repay.

For someone with collateral and a clear plan, Jijenge Credit delivers speed, size, and structure—but you better treat it like a serious business partner, not free money.

Izwe Kenya offers microloans of up to Ksh 1 million with no collateral needed, and borrowers can repay over a period of up to 60 months. The interest rate isn’t fixed—it depends on your credit history, so those with clean records get better terms.

I see Izwe as a smart pick for employed Kenyans who want a clean, no-collateral loan without jumping through hoops—but only if you’ve got your credit game in order.

Progression Credit gives out microloans mainly through salary-backed or logbook financing, with amounts usually starting from around Ksh 50,000 and going well into the millions, depending on your payslip or asset. Though they don’t publish exact interest rates online, most of their loans are repaid in 1 to 5 years, and decisions are made quickly through their 25+ branch network.

For someone with a payslip or an asset to back them up, Progression Credit is a decent pick—just be sharp when reviewing the loan terms, especially the small print.

With Letshego Kenya, borrowers can tap into instant mobile loans between Ksh 1,000 and Ksh 100,000 under their “LetsGo Cash” service, paid back within 30 days straight from your phone. For bigger needs, they offer loans up to Ksh 3 million with repayment terms running up to six years, charged at a flat monthly rate between 1.67% and 2.5%.

For speed and ease, Letshego gets it right—but those extra charges and tight timelines mean you need to use it smartly or risk getting squeezed.