NCBA, Simba Corp sign asset finance deal
Nairobi, June 28th,2021:
NCBA Bank Kenya PLC has today signed an asset finance deal with Simba Corp that will see the lender finance up to 95% of all commercial and personal vehicles sold by Simba Corp.
In a bid to ease the financial load in the current business environment, new and repeat customers will in addition enjoy discounted loan facility fees. The Small and Medium Enterprise sector, which is the largest employer in Kenya, will be the biggest beneficiary of this unique financing deal, which will run for six months.
The partnership will offer customers a 13% interest rate per annum on reducing balance over a maximum tenor of 60 months. In addition, customers will receive a grace period of 60 days after the vehicle release date before loan repayment.Press release