The word Shylock comes from a money lender from one of Shakespeare’s plays, the Merchant of Venice. Shylock loans in Kenya. A Shylock lends you money at a very high-interest rate and expects you to repay within the agreed timelines. A shylock may charge between 20% – 30% to be paid within 2 weeks. Most have an extended period of other 2 weeks with an increase in the interest rate charged by 5%. Failure to repay within a month may result in you losing some of your most valuable items. Shylock loans are a kind of loan facilities provided by individuals or businesses looking to make supernormal profits by imposing a very high interest on the loans disbursed.
There are a number of Shylocks in Kenya. Some provide loan offline by visiting their office premises while others are trying to use the power of the internet by providing loans online via apps.
It’s not a regulated market and for that reason,it’s extremely risky. Once a borrower agrees to take the loan, Shylock will be on the borrower’s neck till full loan payment is made.
All the Shylock thinks of is making extraordinary high profits. For this reason even in acase of late loan payment,a high late payment or loan extension penalty is imposed.
Key requirements to secure a loan from a Shylock
- Present security
- Present a copy of your ID
- Signing an agreement
- Know a Shylock or Know someone who knows one
It’s highly advised that you avoid Shylock loans as much as possible with reason being that you’ll pay way more than relying on the conventional lenders.
Here is a List of Genuine Shylocks in Nairobi – Quick Loans in Nairobi
Odyssey Capital
The lender provides quick loans depending on your urgency. They offer school fees, loan to buy a mobile phone, TV, etc. You can reach them on; 0791510501
Fairdeal for Cash
You can reach them on 0736161339 or 0722169168
Real People EA – Shylock Loans
You can reach them on; 0732168200
Instant Loans on Items Nairobi CBD
Best Lady Centre next to Naivas Supermarket opposite Ummo Inner Stage along Ronald Ngala Street P.O.Box 9537-00300
Hours: Open 24 hours
Phone: 0715 957199
Instant Loans on Items Nairobi City
Instant Loans on Items Nairobi City gives instant soft loans on valuable items for your emergency needs, at competitive rates in Nairobi.
Call/Text/Whatsapp on 0780324666
Instant loan
Call or SMS – 0100410986
Mombo Investment Limited
You can reach them on; 0706503230
List of Private Money Lenders in Nairobi
Kopa Loan Na Bonga Points
You can reach them on; 0724025633
Platinum Credit Kenya – Online Shylocks in Kenya
You can reach them on; 07099009000
Sasa Credit
You can reach Sasa Credit on 0708401555
Meridian Acceptances
Meridian Acceptances gives out loans against logbooks. It gives cash up to 50% the value of your car.
You can reach Meridian Acceptances on; 0704444888
Samchi
This company gives loans within 24hours. It provides short term loans as well as loans against logbooks.
You can reach them on; 0708777770
Izwe Loans
This is more like a non-deposit taking micro financier. It also lends out
You can reach them on; 0729400600 or 0734400600
