Table 3 Logistic regression on the uptake of digital loans (N = 410).

Background characteristics

Gender (Men)

Ref

Ref

Women

0.77 (0.41–1.44)

0.416

Age category (18–30)

Ref

Ref

30–40 years

0.70 (0.32–1.54)

0.377

40–50 years

0.99 (0.38–2.56)

0.983

Above 50 years

2.72 (0.87–8.49)

0.085

Years in business

1.02 (0.97–1.07)

0.476

Location business (Urban)

Ref

Ref

Peri-urban

1.40 (0.77–2.56)

0.269

Rural

1.86(0.16–21.28)

0.619

Business size (Solo Entrepreneur (1))

Ref

Ref

Micro Business (2–9 employers)

1.28 (0.57–2.84)

0.547

Small Business (10–49 employers)

0.64 (0.17–2.38)

0.507

Business type (consultation & treatment)

Ref

Ref

Pharmacy

1.90 (0.95–3.76)

0.068

Diagnostic centre

1.04 (0.12–9.32)

0.970

Financial need (never/rarely)

Ref

Ref

Daily/weekly

2.28 (0.94–5.52)

0.067

Monthly

4.22 (1.74–10.24)

0.001**

No specific pattern

1.31 (0.49–3.53)

0.591

Behavior characteristics

Risk attitude (low risk taker)

Ref

Ref

Average risk taker

1.54 (0.69–3.44)

0.295

High-risk taker

2.32 (0.99–5.41)

0.052*

Perception towards digital loans (Negative)

Ref

Ref

Neutral

1.52 (0.70–3.34)

0.293

Positive

3.14 (1.46–6.79)

0.004**

Cons

0.03 (0.01–0.12)

0.000

Number of observations

410

Pseudo R²

0.14