ASSET FINANCE

Loan Purpose: This is a loan product for persons who want to acquire assets, often for business purposes, though personal reasons are still acceptable.  Such assets may include motor vehicle and machinery, furniture and fittings, electronics and more.

Loan Size: Ksh50,000 – Ksh10 million

Security/Collateral:

·      Same financed asset

Grace Period – 1 month

Access Requirements

  • ·      6 months Certified bank statement
  • ·      Licenses and necessary permits
  • ·      Sale agreement with the vendor and 30% deposit in customer’s sumac account
  • ·      Business Registration Certificates where applicable
  • ·      Sketch Map Area of Residence and business premises
  • ·      ID and PIN copies of business owners /Company directors
  • ·      Copy of  company pin and Certificate of Registration for companies
  • ·      Copy of VAT certificate where applicable
  • ·      Resolution to borrow for partnerships and companies
  • ·      Memorandum and Articles of Association for companies.
  • ·      Current tax and company returns
  • ·      Copy of utility bills i.e. water and or electricity
  • ·      Evidence of business i.e. contracts, receipts of business transactions etc
  • ·      2 passport size photos

 

Processing Time – 48 hrs