Isuzu EA Managing Director Rita Kavashe. FILE PHOTO | NMG
Local vehicle assembler Isuzu East Africa and Co-operative Bank
on Wednesday inked a partnership deal that will see local Small Medium
Enterprises (SMEs) access 95 percent financing when purchasing
commercial vehicles from the auto-dealer.
The SMEs will
also have access to up to Sh300,000 in additional one-off loans for
working capital and the total value of the insurance cover for the first
year on purchasing the asset.
Each loan will attract an interest of 13 percent per annum.
Isuzu and Co-op Bank have brought in CIC Insurance Group
for the comprehensive cover package priced at 4.75 percent of vehicle
value. The insurance deal will also cover the Isuzu truck and pick-up
owners from political violence and terrorism risk.
“This
asset financing product was developed to address the pain points of the
SMEs. Those accessing the loans will have 60 months to repay and this
means that the instalments will not weigh their businesses down,” said
Isuzu EA Managing Director Rita Kavashe.
No comments :
Post a Comment