This archive report was first published on 30 June 2020.
June 30, 2020 - In a bid to cushion small and medium-sized enterprises (SMEs) from the economic slowdown caused by the COVID-19 pandemic, Isuzu East Africa and Family Bank have partnered to offer up to 95% financing for commercial vehicles.
The partnership, dubbed 'Isuzu Strong, Kenya Strong,' aims to provide SMEs in the agribusiness, trade, and logistics sectors with convenient access to Isuzu pickups and trucks at competitive interest rates.
Under the agreement, schools and churches will be able to access 100% financing, while public service vehicle (PSV) owners can access up to 80% financing with a 48-month repayment period.
Family Bank Chief Executive Officer Rebecca Mbithi said the partnership is designed to continue cushioning SMEs and provide flexible terms to business owners to expand their businesses.
“Every sector has been hard hit by the COVID-19 pandemic, and SMEs have not been spared. We aim to continue cushioning SMEs and through this partnership, which is a catalyst to their growth,” Mbithi said.
Isuzu East Africa Managing Director Rita Kavashe added that the initiative is aimed at revitalizing SMEs, which have been hard hit by closures, inter-county movement restrictions, and reduced spending caused by job losses.
“Isuzu East Africa recognizes the uncertainty in the market caused by the negative impact of COVID-19. This partnership with Family Bank comes at the right time to mitigate these challenges,” Kavashe said.
