1. Q. When was the company registered and is it regulated by the Central Bank of Kenya?
A. The company was registered in 2009 under the Companies Act Cap 486 , that is now repealed. It was registered as a private company whose core business is lending. Although not regulated by the Central Bank, the regulator had to give a ‘no objection’ prior to registration.
2. Q. Originally the company was registered as DOTO LAKO INVESTMENT LIMITED. When and why did you change your name?
A. The company was rebranded to Dream Credit limited towards the end of 2015. This rebranding was to emphasize the focus on credit and get rid of the confusion regarding ‘investment’.
3. Q. Who are the owners of the company?
A. The company was founded by indigenous Kenyan citizens who believed in the greatness and potential of their country.
4. Q. Is the company allowed to mobilize savings from customers?
A. As a credit only microfinance company, the institution is not authorized to collect savings from members of the public.
5. Q. How is the company managed?
A. The company has a board of directors who are non- executive. A team of highly competent and experienced staff handle the day to day operations of the company.
6. Q. Do you have other branches in Kenya?
A. For the time being, the head office branch is at Queensway House, 4th floor, Kaunda Street, Nairobi City County. We plan to have representation in all the 47 counties by 2030.
7. Q. How does the company recruit staff?
A. The company sources human capital through a transparent and competitive process. Vacancies are posted on the website and applications are also done online. Selection is purely on merit, integrity and attitude.
8. Q. Does the company offer internships/volunteerism?
A. The company believes in the Kenyan youth and offers internships/volunteerism to fresh college graduates.
9. Q. What are the main products?
A. The company finances all legitimate dreams by qualifying Kenyans-the Dream Loan product. This covers personal (medical, school fees, consumption), business, (LPO/LSO, invoice discounting, working capital), investment and development needs.
10. Q. What are the requirements for one to qualify for a loan?
A. One must be a Kenyan, ID/Passport, six months bank statements, securities (land or motor vehicle logbook). The most important consideration is the ability to repay and the character of the borrower (e.g. not listed with Credit Reference Bureau).
11. Q. What securities are accepted?
A. The most valuable, priceless security is the character/integrity of the borrower. This is supported by other collaterals like logbooks, title deeds, quoted shares, etc. If one does not own this; one can get a friend to act as a guarantor.
12. Q. Do you have the minimum or the maximum that one can borrow?
A. Kenya Vision 2030 challenges Kenyans to dream biggest dreams, so smallest dream is for sh.100, 000 and there is no maximum-it’s all about the size of your dreams!
13. Q. How long does it take to access the loan after complying with all the requirements?
A. Time is money; funds are released within 24 hours upon full compliance.
14. Q. Can one apply for a loan online and make payments online or Mpesa?
A. Yes, one can fill the application online and only come to the office for the perfection of security. Mpesa payments are allowed.
15. Q. What are the future plans for the company?
A. Once the company has established her footprints in most of the counties, the directors aspire to list in the securities exchange through an Initial Public Offer (IPO).
16. Q. How can one become an investor/shareholder in the company?
A. At the appropriate time, the Directors will communicate to stakeholders of the same. Of course priority will be accorded to those that have supported the company to grow.
17. Q. How does the company give back to the society?
A. Since inception, the company has faithfully ‘tithed’ by supporting high social initiatives, e.g. a) donation of durable lockers to Wanjeri secondary school in Kipipiri sub –county, (b) Main sponsor of the inaugural Wa Njeri free cancer screening in Nyandarua county, (c) school fees sponsorships for orphans in secondary schools, etc. The company is truly a responsible corporate citizen.
18. Q. How does the company reward loyal and faithful customers?
A. The company believes in long term win-win business relationships with her customers. In this regard, from February 2016 a customer loyalty program will be rolled out where borrowers will earn 10 loyalty points for every sh.50, 000 borrowed and multiples thereof. (Borrowed and paid on time without fail. One loyalty point is equivalent to one shilling.) The loyalty points earned will be redeemable in January every year in form of school fees. The company will top up with sh.0.50. Dream Credit limited is the first company in Kenya to reward her loyal customers in support of a worthy cause-education.