Logbook Loan

A secured loan where the borrower uses their vehicle logbook (registration document) as collateral. Popular in Kenya and East Africa for quick financing. Example: A Nairobi Uber driver needs KES 200,000 urgently for car repairs. He hands over his vehicle logbook to a lender and receives the cash within 24 hours. He continues driving the car but the lender holds the logbook until the loan is fully repaid.