Financial crises can happen to anyone at any time. When these emergencies arise, finding the best solution can be challenging, especially if you don’t have savings or they are quickly depleted. In such situations, selling assets or applying for an emergency loan are often the most viable options.
Selling an asset, however, can be time-consuming and may result in a loss as finding a buyer who is willing to pay the market value can be difficult. If you’re not prepared to take a loss, the alternative is to consider an emergency loan.
Logbook loans offer a unique solution for individuals facing financial emergencies. These loans are secured against your vehicle, providing a short-term borrowing option to help you through tough times. The advantage is that you can keep your car while making the repayments, minimizing disruption to your routine.
One of the standout features of logbook loans is the quick processing and approval. In many cases, funds can be provided within as little as six hours, depending on your specific needs. Once all the necessary paperwork is completed and signed, the money is transferred to your bank or M-pesa account within minutes.
Applying for a logbook loan with Springboard Capital is a straightforward process. You can apply at any of our branches or online through our SBC website. Along with your application, you’ll need to provide essential documents such as the original logbook of your car, a copy of your ID and KRA pin, a copy of your insurance certificate (comprehensive covered with our shortlisted insurance providers) and proof of income through Bank or Mpesa statements.
Logbook loans provide a lifeline for individuals facing unexpected financial challenges. By leveraging the value of your vehicle, these loans offer a practical solution with minimal hurdles. Whether you need funds for urgent medical expenses, home repairs, or any other pressing need, logbook loans can provide the assistance you require.
This product offers swift access to funds- in a financial crisis, time is of the essence. With easy accessibility, quick processing, and consideration based on the value of your vehicle. Moreover, the lack of stringent credit checks- unlike traditional bank loans that heavily rely on your credit history, logbook loans use your vehicle’s value as security, making your credit score less of a concern. This means you can receive financial assistance even if you don’t have a flawless credit history , flexible repayment options, and the ability to retain vehicle use, logbook loans stand out as a reliable choice during financial emergencies.
Moreover, logbook loans offer flexible repayment options tailored to your financial situation, ensuring you can comfortably repay the loan without straining your budget. It’s important to note, while your vehicle’s logbook is held as collateral, you can still freely use your car throughout the loan term, maintaining your mobility. Logbook loans empower you by offering financial freedom, quick solutions during crises, and the flexibility to manage your repayment journey on your terms.
Should you wish to get some guidance and financial support to apply for a Logbook Loan for your business or personal growth, Springboard Capital is here for you. We’ve offered financial support to individuals and growing businesses for years on years, and have watched them successfully grow. We offer various loan products such as Business Loan, Emergency Loan, Asset Financing, Salaried Loan, Import Duty Financing or Title Deed Loan, to help grow and manage all operations. Contact us today at 0700 944 444 or WhatsApp us through the button below, or email us at info@springboardcapital.co.ke.
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Article by: Richard Mwangi, Marketing Team Lead, Springboard Capital Ltd,who is passionate about brand and marketing. He is a cross-functional team player, possesses strong project management skills, and is self-motivated.
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