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Co-op Bank Renews 95% Vehicle Financing Scheme With Isuzu And Simba Colt

Director Retail & Business at Co-op Bank Arthur Muchangi with bank customer Silas Odero of Nyakinda Construction, Managing Director Isuzu East Africa Rita Kavashe and General Manager CIC Insurance Joseph Kamiri. [PHOTO/ COURTESY]

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, to enable Micro, Small and Medium Enterprises (MSMEs) acquire the vehicles they need at highly negotiated terms.

This special scheme makes the process of buying vehicles most affordable, with the bank financing upto 95 per cent of the purchase price. In addition, customers can apply for a Ksh500,000 working capital facility to support their businesses especially at this difficult Covid-19 season.

The loan has one the longest re-payment periods in the market – 5 years, and further has a 60 days’ grace period and a negotiated motor vehicle insurance cover.

“As partners, we had to renew this joint scheme due to its huge popularity among SMEs, who have told us the scheme is currently the most affordable means of acquiring a wide selection of vehicles such as thepopular Isuzu TFR and Mitsubishi Fuso, for their various transport needs,” says Head of Business Banking, Co operative Bank, Mr Moses Gitau.

Read: KCB Commences Imperial Bank Depositors Pay-out

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.

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Written by Francis Muli

Senior reporter at Kahawa Tungu, Muli has a passion for human interest stories. Believes in unearthing societal rots that have been hidden from the public eye.
Follow me on Twitter @FmuliKE. Email francis@kahawatungu.com

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