Low or no interest credit on essential commodities

Why don’t we have more of these in this town? Where one can get the important things in life like cameras, laptops, car tyres, office furniture, etc. Things that can benefit you getting fast, and either directly or indirectly pay for themselves.

People would easily get power hardware they need and do repayments as they hustle, instead of waiting till they can afford.

There was this credit shop from yester years where our parents got home electronics for a low deposit and affordable monthly payment, my mum even got machines to start her tailoring business which she still has, i wonder if they still exist,the last time i saw one it was dwarfed by other shops.
There is the lipa polepole things by tuskys, hotpoint etc but they dont allow you to take the item until you pay up completely and they will charge interest if you don’t pickup within six months.
Then we have the kenyan mistrust even renting out equipment is risky because reckless usage, which reminds me of a pic on SM on how guys overuse rental cars.

Deposit plus insurance should take care of first depreciation on use.

Simply put there is no appetite from lenders.

Retailers fear the risk of default and anyone big enough to accept that risk (read banks) would rather lend to government.

Ati more!?, are there some existing right now?

There’s no way such cheap credit can exist since that money must come from somewhere and it will only be offered if the money would not be earning more by investing in zero risk instruments like govt bonds. Even if it is just sitting under the ‘bed’ it is safer since there is still zero risk of default unlike loaning to people.

I think if it is for business purposes it might be worth it to explore the various government funds for such. I also see in the papers banks getting money from overseas lenders for on-lending to SME’s at low-interest rates so maybe they exist but aren’t publicised much.

Otherwise the cheapest loans will be from friends and family. Find a way to befriend brother Atwoli :man_shrugging:

Used to, ART Credit

I go to US websites and they have monthly payments on credit cards for stuff, Samsung had EMIs (Equal monthly instalments) for Samsung devices.

Ahh, if it is ART then that is hire purchase. I think Kenya Credit Traders still exists.

Banks have a category known as asset finance which is somewhat like hire purchase. I’m sure the issue is interest and qualifying for it especially now they are denying tu.

I remember my dad back in 1993 there buying a huge radio and a black mamba bike that were financed by ART.