Tala Kenya Raises Loan Limit To Ksh 50,000

Tala has increased its loan limit amount to fifty thousand shillings (Ksh. 50,000) as consumers are drawn to its flexible repayment options and fast-growing loan limits amid high inflation and concerns over the increasing cost of credit from traditional financial institutions.

The increase from thirty thousand shillings (Ksh 30,000) to fifty thousand shillings (Ksh 50,000) stems from Tala’s MoneyMarch 2022 Report in which customers wished for higher loan limits with 78% of borrowers taking loans to pay for business expenses, add stock, or fund their side-hustles.

“We are a consumer-first company and fulfilling our customers’ most relevant needs sits at the heart of our decision-making during product improvements and development of new services,” said Annstella Mumbi, Director for Growth at Tala.

With the increased limits, we hope that parents can now quickly access a sizable school fees loan and get their child settled in class on time, small traders can pull through stock equaling demand, and breadwinners can manage to put food on the table each day” concluded Ms.Mumbi.

Tala is a global technology company building the world’s most accessible financial services. More than 6 million people across Kenya, the Philippines, Mexico, and India, have used Tala products to start and expand small businesses, manage day-to-day needs and pursue their financial goals with confidence.

Tala has raised more than $350 million from visionary investors including Upstart, the Stellar Enterprise Fund, RPS Ventures, the J. Safra Group, IVP, Revolution Growth, Lowercase capital, and PayPal Ventures.

Related Content: Tala Refutes Claims Of Being Deregistered By CBK