This archive report was first published on 2 July 2020.
On July 2, 2020, Family Bank and Isuzu East Africa announced a partnership to offer customers a three-month repayment holiday on commercial vehicles amid the Covid-19 pandemic.
Under the asset finance agreement, dubbed 'Isuzu Strong, Kenya Strong,' customers will access up to 95 percent financing payable within 60 months.
Family Bank chief executive Rebecca Mbithi said, 'Through the 90-day repayment holiday, we are seeking to offer flexible terms to business owners to be able to expand their businesses.'
Isuzu East Africa managing director Rita Kavashe added, 'This partnership with Family Bank comes at the right time to mitigate the challenges faced by SMEs. Significantly, for the next three months, SMEs will enjoy a 90-days grace period before they can begin to repay their loans.'
The deal also gives SMEs access to a credit line facility of Sh200,000 on their mobile phones to support their business needs. Additionally, with every vehicle purchase, SMEs will obtain two Amref Maisha Covers in case of emergency evacuation services.
