Sunday, February 28, 2021
  • Bizna Club
  • Directory
  • SME Awards
  • YEA Awards
  • Login
Bizna Kenya
  • Bizna Club
  • Bizna Academy
  • SME
  • AGRIBUSINESS
  • SAVINGS & INVESTMENT
  • AUTO
  • REAL ESTATE
  • NEWS
  • EDUCATION
  • HEALTH
  • TECH
No Result
View All Result
  • Bizna Club
  • Bizna Academy
  • SME
  • AGRIBUSINESS
  • SAVINGS & INVESTMENT
  • AUTO
  • REAL ESTATE
  • NEWS
  • EDUCATION
  • HEALTH
  • TECH
No Result
View All Result
Bizna Kenya
No Result
View All Result

Home » FEATURED » How Co-op Bank became a trailblazer with asset finance in Kenya

How Co-op Bank became a trailblazer with asset finance in Kenya

by Bizna Reporter
18th February 2021
in FEATURED
Reading Time: 3min read
A A
asset finance in Kenya
Share on FacebookShare on Twitter

On any ordinary day, it is never easy to get asset finance in Kenya. The process and terms are usually tedious. Granted, things have been particularly the past one year due to the effects of the rampaging coronavirus pandemic. With lenders restructuring loans worth billions of money, very few have been willing to extend new financing to customers.

However, one lender has remained distinguished in asset finance in Kenya way before the onset of corona and during the corona period. This lender is the Co-operative Bank. Even amidst the pandemic, a spot check on asset financing options by Bizna Kenya shows that this bank has been setting the pace.

Last year, Co-op Bank launched a partnership with Isuzu East Africa that would enable customers to accelerate their businesses with vehicle financing. Under the partnership, Kenyans can now apply and the get the powerful Isuzu FRR at a financing arrangement of up to 95 per cent at Co-op Bank. Customers also get a two month repayment holiday for your Isuzu FRR loan. In the same vein, they are able able to repay this loan through one of the longest re-payment periods in the market of up to 5 years. The icing on the cake is the eligibility to get a business loan of up to Sh. 500,000 to ensure that their new truck business gets a good head start.

Why buying Co-op Bank shares right now is a good investment

This, though, is not the only financing programme that the bank has been trailblazing. Co-op Bank has a strategic financing partnership worth Sh. 1 Billion that is enabling institutions such as schools, churches, universities and fleet owners to purchase or lease Mercedes Benz buses. Customers who qualify for the scheme have the option of purchasing buses with financing of up to 95 per cent. They can also acquire more units through 100 per cent leasing for an extended period of up to 60 months. What’s more, to help customers acquire the bus they need with a payment they can afford, schools and colleges can have payments correspond with school terms for easier cash flow management. This scheme is available to both Co-op Bank customers and non-customers who want direct acquisition of the vehicles, or for leasing.

ReadAlso

Geraldine Sande: What I learned after using a current account to save

Betty Kyallo joins KTN in lucrative deal months after losing K24 job

How over 3,000 Kenyans lost Sh. 18.6 billion in greenhouses scam

Was Caroline Maina murdered because of Sh. 20 million deal?

In addition, Co-op Bank has a partnership with Toyota Kenya that can help you purchase commercial and personal vehicles under Toyota Kenya’s portfolio, including Toyota, Suzuki, Hino and Yamaha. Customers are only required to deposit a down payment of 5% to purchase the vehicles, with financing of up to 95% provided by the bank. In addition, repayment of this loan is for a long period of up to 60-months.

The bank has not left matatu saccos out in the cold. In November last year, Metrotrans Sacco, one of the leading PSV transport Saccos operating in Nairobi, received 45 new buses at Isuzu East Africa with financing from Co-op Bank in form of a lease worth Sh 225 Million. The buses were financed through Co-op Bank’s leasing arm – Co-op Bank Fleet Africa. Under the leasing agreement, Metrotrans will lease the buses for a period of four years after which they will be sold to individual Sacco members including drivers.

According to financial analyst MaryAnne Kemboi, these programs have captured the core needs of customers whose businesses rely heavily on vehicle transportation. “These products mean that a customer can get both the asset and the capital to actualize their business goal without too much repayment burden,” she says. “It also means that the lender is creating value proposition by ensuring that is everyone can get something under its asset finance program.”

ShareTweetSendShare

Related Posts

Current Bank Account
FEATURED

Geraldine Sande: What I learned after using a current account to save

by Bizna Reporter
26th February 2021
Betty Kyallo KTN
FEATURED

Betty Kyallo joins KTN in lucrative deal months after losing K24 job

by Bizna Reporter
25th February 2021
Goldenscape Greenhouses Scandal
FEATURED

How over 3,000 Kenyans lost Sh. 18.6 billion in greenhouses scam

by Bizna Reporter
25th February 2021
Caroline Maina Murder Investigation
FEATURED

Was Caroline Maina murdered because of Sh. 20 million deal?

by Bizna Reporter
25th February 2021
Land Disputes in Kenya
FEATURED

Esther Wakaba: I was a multi-millionaire, but today I live in a slum

by Bizna Reporter
24th February 2021
Daniel Mwangi Wangondu
FEATURED

How Nyeri father paid Sh. 160,000 to have his son murdered

by Bizna Reporter
24th February 2021
Some of the Kikao64 desks that can be booked for working either by walking in or via the website - Bizna Kenya
FEATURED

Kikao64 opens modern co-working hub in Eldoret

by Bizna Team
23rd February 2021

Discussion about this post

Follow Us

  • 256.4k Fans
  • 350.5k Subscribers

Recommended

My Boyfriend Had Promissed Valentine’s Day Treat, But Dumped Me Instead

5 days ago
State Unveils Youth Enterprise Fund Strategic Plan - Bizna Kenya

State Unveils Youth Enterprise Fund Strategic Plan

2 days ago
Mitumba business in Kenya

How you can make more money from your mitumba business

4 days ago
Akothee

Akothee tells how she’s been saving Sh. 2 million on bills every month

5 days ago

Sectors

  • AGRIBUSINESS
    • Crops
    • Dairy
    • Livestock
      • Poultry
    • Rabbit
  • AUTO
  • Bizna Club
  • BIZNA SME AWARDS
  • CUSTOMERS VOICE
  • EDUCATION
  • FEATURED
    • TOURISM
  • HEALTH
  • KENYAN MEALS
  • Life Hacks
  • NEWS
    • Corporate
    • World
  • REAL ESTATE
  • SAVINGS & INVESTMENT
    • Insurance
    • Loans
  • SME
    • BIZNA BASICS
    • Digital marketing
      • Online Bizness
    • E-Commerce
    • Management
      • Career
    • Mentorship
    • PROFILES
  • Sponsored
  • TECH
No Result
View All Result

Highlights

This is the cost of rearing Kienyeji chicken in Kenya

Mutyambai: Forgot to carry driving license? Do this when stopped by cops

Fake ‘Pastor’ Shocked After He Found His Guzzler Car Missing in the Parking Lot

Sophie Mukwana: How doing business with a friend killed our friendship

Jackson Mwirigi: I teach kids how to code to prepare them for the future

State Unveils Youth Enterprise Fund Strategic Plan

Trending

Doing Business in Kenya
SME

Faith Mutembei: How Uhuru’s government killed my water business

by Bizna Reporter
28th February 2021

Doing Business in Kenya: If you want to start a small or medium business in Kenya, be prepared...

mother

I Never Knew My Mother and My Husband Could Have a Fling, Until

28th February 2021

Top 10 best celebrity houses in Kenya today and their owners

27th February 2021
Kienyeji Poultry Farming

This is the cost of rearing Kienyeji chicken in Kenya

27th February 2021
Driving License Kenya

Mutyambai: Forgot to carry driving license? Do this when stopped by cops

27th February 2021
  • Home
  • About Us
  • Our Profile
  • Privacy Policy
  • Contact Us

2020 Bizna Digital Services | All rights reserved.

No Result
View All Result
  • Bizna Club
  • Bizna Academy
  • SME
  • AGRIBUSINESS
  • SAVINGS & INVESTMENT
  • AUTO
  • REAL ESTATE
  • NEWS
  • EDUCATION
  • HEALTH
  • TECH

2020 Bizna Digital Services | All rights reserved.

Welcome Back!

Sign In with Facebook
Sign In with Google
OR

Login to your account below

Forgotten Password?

Create New Account!

Sign Up with Facebook
Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In