Lenders will always check with the Credit Reference Bureaus (CRB) to see how you as a borrower is performing as you interact with various lenders before making a lending decision to you.
Credit History, Credit Score and Payment Performance Index are some of the important data CRB keep about a borrower.
Loan apps before the COVID-19 pandemic used to access CRB services, just like the regulated lenders in Kenya.
Now all loan apps don’t check CRB status before granting loans. This move is after the Central Bank barred unregulated lenders including Loan Apps (digital lenders) and Credit-Only microfinance companies from access CRB services in April 2020.
Here are loan apps that never check CRB status
- Tunzi Loan app (formerly Utunzi loan app)
- Fadhili Loan app
- Usawa Loan app
- Kano Loan App
- Upazi loan app
- Dolax loan app
- Craft loan app
- Utajiri loan app
- Jazika Loan app