Family Bank has partnered with Simba Corporation Limited for a deal that will see customers receive up to 100 per cent financing to purchase vehicles.
Small and Medium-Sized customers in the agribusiness, trade and logistics will have the ability to purchase Fuso trucks, Mitsubishi, and Mahindra trucks at a very competitive interest rates.
Agribusiness sector, religious and education institutions will also access a 100 per cent financing, but repayable for five years, other business enterprises will have a 95 percent financing repayable within 60 months.
Public Service Vehicle customers will be given an 80 per cent financing to be repaid in 48 months.
This can be incorporated within the asset finance facility as one single total cost. Insurance package will cover political violence, accidental damage access protector, alternator and starter theft, and terrorism for school busses.
“As a Bank that values SMEs, we aim to bridge the gap hindering their growth and this partnership is a big step in that direction. With this partnership, we will not only offer entrepreneurs financing for automobile products but will also extend to them favourable terms and quick approvals that will ensure their businesses keep growing,” said Family Bank Chief Executive Officer Rebecca Mbithi during the launch.
“I want to thank Simba Corporation for their commitment towards the SME sector and also for coming on board to help us meet the growing and ever-changing needs of our customers,” she concluded.
“We continue to make it our mission to create value for our customers through mutually beneficial relationships as shown in our partnership today with Family Bank. We are confident that our customers will enjoy the financial support, which we believe will go a long way to grow their businesses,” Simba Corp’s Chief Commercial Officer Ameet Shroff said.