Over the past six months, small business owners have increased their borrowing from digital lending platforms to cater to the growth.
Many borrowers have opted for digital lenders because compared to traditional financial institutions, these lenders provide timely credit.
Tala has increased its loan limit amount from Sh30,000 to Sh50,000 to facilitate provision of timely credit to customers in need of loan amounts large enough to enable them efficiently run their businesses.
The new loan limits will also enable customers fulfill other urgent needs such as paying for school fees or medical care.
