East Africa

Tala launches loans to support Kenyan businesses through the crisis

Tala launches fund to support Kenyan businesses through the crisis

Many Kenyan communities and small businesses now find themselves in a tough financial position due to COVID-19. Mobile lender Tala has launched the Rebuild Fund to support Kenyan businesses that provide essentials services to their communities.

Tala traditionally offers accessible consumer credit, instantly underwriting and then disbursing loans to people who have never had a formal credit history, through their smartphone.

As part of the Rebuild Fund’s initial efforts, Tala are offering customers who are small business owners the apply for 0% interest, 6 month Community Support Loans of 30,000-50,000 KSh. 

“We believe small businesses are the backbone of the Kenyan economy. And will be prioritizing loans for businesses that provide the necessities a community needs to weather a crisis, such as food, water, health & medical services, critical household supplies, education, and logistics related to these services” shared Ivan Mbowa, General Manager, Tala Kenya.

This is just the beginning for the Rebuild Fund. We are constantly evaluating additional ways to assist customers and their communities by providing timely products and tools. 

More information on the fund here.

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