Of all parameters measured, digital loans had the biggest positive effect on individuals’ ability to cover household costs.
Tala has been conducting sensitization campaigns on the importance of responsible borrowing as well as sound financial management.
Fintech lenders continue to be a preferred source of SME financing due to the fast access of loans and low collateral requirements, compared to conventional financial institutions, a recent study by impact measurement firm 60 Decibels and fintech Tala shows.
According to the survey, which was conducted on 250 borrowers, respondents noted that quick and timely loans that they receive from fintechs are instrumental in helping them meet urgent needs, especially during a time such as this when the cost of living is too high.
