This archive report was first published on 20 September 2019.
On September 20, 2019, Isuzu East Africa announced a partnership with NIC Bank to offer asset finance to Small and Medium Enterprises (SMEs) in Kenya.
The partnership allows Isuzu customers to access up to 95% financing for the purchase of new vehicles, with a 60-day grace period from the onset and a loan repayment period of up to 5 years.
Additionally, the partnership provides relief to customers who suffer short-term disruptions such as accidents or loss of goods in transit. In such cases, customers can enjoy loan repayment support of up to Kshs 300,000 per month for two months, enabling their businesses to continue.
Other benefits of the partnership include a Kshs 1 million cover for the loss or damage of goods and a personal accident cover for the driver and loader of up to Kshs 250,000.
However, this service is only available to Isuzu SME customers who have purchased their trucks or pickups through NIC Bank credit facilities.
Isuzu has previously partnered with NIC Bank, as seen in the Toyota/NIC partnership, which offers up to 95% financing for buyers seeking to purchase vehicles, with NIC providing loans at 13% interest and a repayment period capped at 60 months.
