Are you looking to acquire a pickup or lorry for your business, or a matatu van to venture into the public transportation business but don’t have enough money?
If your answer is affirmative, you might want to pull your seat closer. This is because Bizna Kenya evaluated the asset financing option for Isuzu and Toyota vehicles at the NCBA Bank and today, we shall break it down to show you what you will get and the terms you will be required to meet.
The NCBA Bank’s asset financing for vehicles is primarily aimed at supporting individuals and personal needs. For a start, this is a package that is highly rated in the market, with a market share that is not too far away from the 50 per cent milestone.
“Asset financing has been a key pillar and contributor to our overall growth and success. With a market share of more than 35 per cent in asset finance, this means that our customers trust our asset finance solutions,” says NCBA Group chief executive officer and managing director John Gachora.
If you have a business that can demonstrate a regular cashflow, the bank can boost you up with up to 100 per cent financing through a partnership it is running with CFAO Motors which are responsible for the popular models Toyota HiAce (matatu) and Toyota Hilux (pickup).
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Apart from the Toyota vehicles, you can also get financed to acquire Isuzu D-Max pickups and Isuzu trucks including the Isuzu FRR trucks and the Isuzu NQR 33 seater matatu buses. Under this option, you will be eligible to access financing of up to 95 per cent.
In both arrangements, you will be granted a 90 repayment holiday to ensure that you have adequate time to organize you business and get extra income coming in to match the installments.
For instance, whether you are looking to get into the long-distance matatu business using the Toyota Hiace 9l van or if you want to join a matatu Sacco in Nairobi such as Super Metro, the bank has arrangements that will meet your needs and get you in business way before you can start repaying the financing.
In addition to this, the NCBA Bank will give you a repayment period of as high as 6 years or 72 months.
CLICK HERE TO START YOUR ASSET FINANCING APPLICATION WITH NCBA BANK!
Interestingly, the loan application, approval and disbursement process at the bank is seven times faster than the average in the local banking sector. “We know our people have big dreams to grow their businesses. We will continue to support them meet their business and personal needs,” says Mr. Gachora.
