Companies

Isuzu, NIC Bank ink loan deal for SMEs

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An NIC Bank branch in Nairobi. FILE PHOTO | NMG

Car maker Isuzu East Africa has signed a partnership with NIC Bank #ticker:NIC that will see Small and Medium Enterprises (SMEs) get up to 95 percent financing on purchase of new trucks and pickups from the auto-dealer.

The product, dubbed “Zero Disruption”, will include provisions for additional business support in case of disruption to firms’ business, a 60-day grace period from the onset and a loan repayment period of up to five years.

The car dealer reckons the asset financing programme will enable SMEs have peace of mind while purchasing Isuzu vehicles whilst being assured of crucial intervention in the event a disruption occurs.

In case of disruption, firms will enjoy loan repayment support of up to Sh300,000 per month for two months hence allowing their businesses to continue.

The programme applies to Isuzu SME customers who have purchased their trucks or pickups through NIC Bank credit facilities.