For an entrepreneur in a seasonal business, or, a businessman in a contractor-based project and need reliable, financial motivation, there is a bit of good tidings in store.
Do you run a private school – and, needs to prep up for operations when the learning program is back?
You need to know that Co-operative Bank has renewed for the fifth year running the special Motor Vehicle Purchase Schemes established with major motor vehicle dealers, Isuzu East Africa Ltd and Simba Corporation Group. This is structured to enable Micro, Small and Medium Enterprises (MSMEs) acquire vehicles they need at highly negotiated terms.
With the Biashara Indelee na Isuzu promotion, one enjoys up to 95% funding for the vehicle of choice. Also, you can choose to attain additional funding for up to 500, to boost business operations.
Incredibly, the package affords your business a 6 month grace period to start making the payments.
Vehicle models under the Special Scheme for Isuzu are Pickups – TFS & TFR series, Isuzu N-series Models – NHR, NKR, NQR, NPR; Isuzu F-Series models – FRR, FSR.
Simba Colt are offering Mitsubishi Canter FE 71, 84,85CG, 85CH, Mitsubishi Trucks and Mitsubishi Pickups.
These are the requirements needed to secure Biashara Iendelee na Isuzu financing:
- 6 months’ bank statements: (Non Co-op Bank clients) Mpesa statements are an added advantage. 1 year statements for seasonal/contractor business OR schools
- Copy of ID/passport for all applicants/directors/officials
- Copy of KRA pin certificates
- Business registration certificate
- Duly filled Asset finance application form, include working capital form
- Limited Companies: Certificate of Incorporation, PIN, Memo & Articles of Association, annual returns
- Saccos: PIN, Certificate of Registration, Registered borrowing powers, minutes authorizing the borrowing, minutes appointing officials
- Copies of contracts where applicable
- Pro forma Invoice
- For amounts above 10 million: 3 years audited accounts, latest management accounts
In addition, the package comes with:
- A working capital of Ksh 300,000/=
- A 60-day repayment holiday on the loan
- A comprehensive insurance package priced at 4.75% of the vehicle value (that includes political violence & terrorism)
- Insurance Premium Financing which allows you to pay insurance premiums in easy instalments
- 1% processing fee
Each business has unique challenges. To address them and achieve success, visit any one of the 150 Co-op Bank branches across the country. The solution shall be met with equal zeal.
September 26, 2020
September 24, 2020