Having been with the local K-rep bank from 2007, one had to indefinitely close in 2014. You would think that the bank would be grateful that they earned from you for seven (7) years but woe unto thee. Actually, after having grown they don’t mind losing one too many customers. Having not borrowed from them for 7 years one would think that when you are in need of help they would come in handy but woe unto thee problems are yours not Thiers. this happened to one organization that had qualified for Kshs.800,000 in Feb 2014 and the loan application process started one thing led to another eventually the offer letter ended up with kshs.200,000 but still then the loan was cancelled and the security offer given back in August, 2014. So from Feb to August what was going on?
Are there banks that take 48hrs to process a loan in Kenya, the answer is yes? Who loans ot K-rep to make money, would you invest?
So why this particular bank what was it doing for more than 3 months?
Final, answer from the Manageress herself “we have to wait for another 7months to see how the account will perform" .. Well the bank K-rep out did its performance on how to lose a customer......