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I took a Logbook loan from HF Group. The company gives a minimum loan of Ksh100,000 and repayment period is 48 months. They don’t give loans to vehicles older than 15 years.
Two years ago I wanted to take a loan and start hardware business. I had a car which I bought for Ksh 4 million. I took my logbook to HF Group and they gave me a loan of Ksh 2.5 million. I took another loan from my Sacco and the total amount was Ksh 5 million. I used this money to start a hardware shop in Ruiru. The profit I made from the hardware shop helped me repay the loan. I am almost finishing repaying the loan. So far,my interest on the loan has been 18%. HF Group interest loan on logbook loan is usually 12% to 24% depending on the duration of payment.
As someone who has benefitted from this loan,I will recommend anyone intending to take logbook loan in Kenya.
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