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Relief as Tala resumes lending albeit secretly

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Giant lending company, Tala Loans has resumed lending albeit secretly.

Clients who checked their apps were however passed through a rigorous re-orientation and a plethora of questions so as to test their suitability to take loans.

“Apply now for your pre-approved loan”, said the welcoming message. “We’re excited to have you back and look forward to partnering with you to help reach your financial goals”.




The loans are however of a lower limit according to clients who spoke to kenyanbusinessfeed.com even as Tala had warned.

“Please note that due to Covid your loan limit may be lower from your previous Tala loan. Changes to your limit aren’t permanent and your limit can increase with on time repayment”.

In the new arrangement for getting a loan facility, Tala has increased the number of questions they ask their clients.

The questions range from frequency of income, amount of income, amount one pays for rent and foodstuffs, and the usual question whether someone has a loan elsewhere, etc.




Covid-19

In March clients who repaid their loans were shocked when they were blocked from accessing a new facility.

Tala had temporarily shut down its operations due to the prevailing economic slow-down occasioned by Covid-19 pandemic and the waiver of Credit Reference Bureau (CRB) listing for 90 days.

“We direct the temporary suspension of listing on CRB of any persons, micro, small, medium entities and corporate entities whose loan account fall due or is in arrears effective, April 1, 2020,” President Uhuru Kenyatta had said in March.




Tala seems to have taken advantage of the expiry of the ban on CRB listing to restart issuing loans.

Courtesy

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