Affordable Motorcycle Financing Options for Aspiring Riders and Entrepreneurs
In Kenya, the Boda Boda industry continues to be a key source of income for thousands of youth across the country. Despite its employment potential, the high cost of purchasing motorcycles remains a major barrier to ownership for many. Fortunately, several financial institutions and microfinance firms have stepped in to offer affordable Boda Boda loans, making motorcycle ownership accessible and manageable through flexible repayment plans.
Below is a curated list of the top Boda Boda loan providers in Kenya, updated for 2025.
1. Watu Credit
Watu Credit is one of Kenya’s largest asset finance firms for motorbikes and tuk-tuks.
Key Features:
- Fast processing within 2 hours
- Down payment: Ksh 20,000 for bikes, Ksh 50,000 for tuk-tuks
- Repayment period: Up to 24 months
Requirements:
- National ID and KRA PIN
- 1 guarantor (20–65 years) and 2 referees
- Active M-Pesa line (used for 6+ months)
Contact: 0709 739 000 / 0719 111 000
2. Mogo Kenya
Mogo is a leading vehicle and motorcycle financing company offering fast, flexible Boda Boda loans across the country.
Key Features:
- Ride away with a motorbike within 24 hours
- Initial deposit from Ksh 20,000
- Daily payments starting from Ksh 300
- Repayment period: 52 to 104 weeks
Requirements:
- National ID and KRA PIN
- 3-month M-Pesa statement
- One guarantor
- Age: 20–60 years
Contact: 0768 469 112
Email: [email protected]
Head Office: Prestige Plaza, Ngong Road, Nairobi
3. Mwananchi Credit Ltd
Mwananchi Credit offers motorbike loans with flexible payment options and value-added insurance services.
Key Features:
- Interest rate: 3.5% per month
- Loan term: Up to 18 months
- Daily or weekly repayments via Mpesa
- Comprehensive insurance included
Requirements:
- Copy of ID, KRA PIN
- 3 guarantors (one must be a relative)
- Down payment: Ksh 15,000
- Passport photo
Contact: 0709 147 000
4. Progressive Credit
Progressive Credit supports aspiring riders by offering Boda Boda loans with custom repayment schedules.
Key Benefits:
- Weekly or daily payments
- Loan period: Up to 24 months
- Life insurance and mobile loans via Nawiri App
Requirements:
- ID copy, KRA PIN
- One guarantor
Contact: 0702 698 577 / 0789 796 477
Email: [email protected]
5. KCB Bank
KCB Bank finances motorcycles and tuk-tuks with affordable interest and insurance cover.
Benefits:
- Up to 70% financing
- Insurance: Ksh 9,600 (motorbike), Ksh 15,000 (tuk-tuk)
- Flexible repayments: 12 months (motorbikes), 24 months (tuk-tuks)
- Access to exclusive dealer pricing
Requirements:
- Valid driver’s license
- Active business account (min. 3 months)
- KRA PIN, proforma invoice from dealer
- KCB banking history (6 months) or group savings (3 months)
Interest: 13% p.a. + 3% negotiation fee
6. Pioneer Credit Ltd
Pioneer Credit offers financing of up to 80% for new motorbikes from approved dealers.
Requirements:
- 20% down payment
- ID, driving license, KRA PIN
- 3-month M-Pesa statement
- 3 guarantors
Contacts: 0701 777 000 / 0751 259 359 / 0721 605 139
7. Bimas Kenya
Bimas Kenya, a microfinance institution with 39 branches, empowers youth through Boda Boda financing.
Loan Details:
- Loan limit: Ksh 200,000
- Repayment: Daily Ksh 300 or weekly
- Loan term: Up to 18 months
- Mandatory initial deposit: Ksh 14,000
Contact: 0701 111 700
Head Office: Embu, Kenya
8. Capital Sacco
Capital Sacco, headquartered in Meru, offers motorbike loans aimed at supporting Boda Boda operators with asset acquisition and maintenance.
Contact: 0708 843 287 / 0708 843 288
Email: [email protected]
9. Ndege Chai Sacco
With offices in Kericho, Konoin, Silibwet, and Naivasha, Ndege Chai Sacco provides affordable loans under asset financing.
Key Features:
- Repayment: 18 months
- Interest: 14% reducing balance
- Ksh 15,000 member contribution
- 4 guarantors required
- Logbook retained until full repayment
Contact: 052 203 0121
Email: [email protected]
Things to Consider Before Applying
- Compare interest rates and repayment plans
- Understand insurance fees and tracking costs
- Ensure you can meet daily or weekly repayments
- Always verify dealer authorization through the financier
