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Asset Finance

Asset Financing

This a facility which has been introduced to help members acquire various assets for example Motor Vehicles,
Posho mills, Engines, Pumps and Excludes heavy commercial vehicles, and commercial vehicle specifically 'matatus'

Interest chargeable is 1.125% per month.

Financing options is 90% of the value for new assets and 75% of the value for used assets.

The term of the loan is up to a maximum repayment period of 48 months.

The member will be required to pay for the transactions costs which include joint registrations and other
incidental costs like processing and legal costs.

Members are entitled a maximum of four times their savings.

The asset being acquired will be used as Security of the loan; 90% for new assets and 75% if the asset is used.

A member can have a normal loan, an asset loan, plus all other loans so long as the cash flow can support.