Family Bank has partnered with Toyota Kenya to provide up to 95 percent financing for small and medium enterprises(SMEs)offering crucial services during the Covid 19 pandemic to buy vehicles.
The lender will finance the purchase of the Hilux single and Double Cabin pickups.The loan is payable within 60 months,but the firms are also offering a repayment holiday of 60 days.
Toyota Kenya said customers who purchase their cars through the programme will receive 80 percent financing payable within 48 months plus a 60 day repayment holiday.
“The diversification of our asset financing is meant to give our SME clients an array of options that suit their business needs,especially during this tough economic time.We believe that by supporting the growth of SMEs businesses,we can cushion our economy from adverse effects”said Family Bank CEO Rebecca Mbithi.
Toyota Kenya MD Arvinder Reel emphasized the need to support businesses offering essential services amid the pandemic.
“This partnership targets SME customers in manufacturing,logistics and agribusiness among other industries as they play a vital role in the current circumstances.