MOMENTUM CREDIT – REDEFINING ACCESS TO FINANCING FOR MACHAKOS RESIDENTS
FRIDAY, 3RD JUNE, 2022 - SMEs are touted by reputable institutions - such as the World Bank, as growth drivers responsible for economic growth. Regrettably, these businesses have limited access to financing due to the broad-based perception of being too risky. This is in turn limiting to our country’s economic potential.
It is against this background that Momentum Credit - a non-deposit taking financial institution, opened its 12th branch in Machakos County on Friday 3rd June to continue providing working capital solutions to Individuals and SMEs otherwise considered too risky by mainstream banking.
Speaking during the launch, Momentum Credit’s Chief Executive Officer – Mr. Job Muriuki welcomed the recently introduced regulation – citing it as an opportunity for the category to rid of rogue players while continuing to deliver credible non-bank lending to Kenyans.
“We are intentional about supporting the realization of the Country’s Vision 2030 – Transforming Kenya into a newly industrializing, middle-income country, providing a high quality of life to all its citizens in a clean and secure environment. Machakos has been established as a sustainable, conducive and vibrant business destination – ranking among the top five (5) counties with the highest contribution to the country’s GDP. It pleases us to collaborate this position by enabling emerging businesses and entrepreneurs realise their aspirations and expand their possibilities through improved access to finances. Part of our solutions include; facilitating affordable Insurance premium financing - eliminating the need to make Insurance payments upfront particularly with comprehensive insurance premiums having increased by up to 50% this financial year, a self-service revolving credit limit facility - secured by a motor vehicle and Motor Import Financing that reduces the cost of acquiring a car by up to 20%. Our commitment is to provide fast access to credible financing complemented by world class customer experience.”
The brand continues to differentiate itself through transparent lending terms and innovative product offerings that are fast and easy to access. The 2022 expansion drive is geared towards improving proximity to clients - driving convenience and supporting economic recovery post the COVID-19 pandemic.
About Momentum Credit
Momentum Credit Limited (MCL) was founded in March 2017 with the purposeful intent to meet an overwhelming market need of providing structured working capital solutions to individuals and Small Medium Enterprises (SMES). Momentum Credit Limited has the ambition to revolutionize structured non-banking finance across Africa.
For more information, contact:
Kawira Irambu
Brand and Strategy Manager
k.irambu@momentumcredit.co.ke
0734677088
For more information and press queries, please contact: Comms@momentumcredit.co.ke