“These lending institutions have helped in bridging the gap by offering credit services to small businesses who could not access credit because they lacked the credit score or banking history,”

The establishment of the Digital Lenders Association of Kenya (DLAK), in June 2019, came at an opportune time, to help in the regulation of the

-A competitive lending market can potentially lower the costs of scoring and disbursing loans to lenders
-Digital lending proposes numerous substantial enhancements relative to traditional credit

The existence of alternative lending dates back in time, and the digital lending industry is an offshoot of traditional credit sources that included friends, workmates and relatives. There are extra benefits to using digital services to access credit as they are not only instant and efficient, but they also increase the opportunities of accessing money for small and family business owners.