The Co-operative Bank of Kenya and Simba Corporation customers can now purchase commercial vehicles at affordable rates and access working capital following a partnership signed between the two institutions.
The deal aims at cushioning businesses and enabling them to thrive during the ongoing health Covid-19 crisis that has impacted them immensely.
Customers will get asset finance facilities from Co-op Bank which will enable them to acquire Fuso trucks from Simba Corporation in a deal that will see the Bank fund up to 95 per cent of the value of the truck and top it up with Sh 500,000 working capital.
Customers will further enjoy a two-month repayment holiday, giving them an opportunity to run their businesses without the pressure of repayments. The loan is repayable over a period of up to five years.
The partnership is targeting individuals, SMEs, and large commercial businesses. Most businesses have been hugely affected by the ongoing health crisis and some have been brought to a halt.
Simba Corporation managing director Motor Division Naresh Leekha said they are committed to helping keep customers’ businesses going.
“In addition, our Fuso FI is perfect for business now, it is the first vehicle in its class to give vehicle owners a service interval mileage of 15,000 kilometers thus ensuring reduced maintenance down-time for our customers,” Leekha said.
Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]