SMEs To Receive 100 Percent Financed Business Trucks

A partnership between Diamond Trust Bank and Simba Corporation will see Kenyans in the Small and Medium Enterprises (SMEs) gwt access to new Fuso trucks. The trucks will be made available with 100 pc financing under the bank’s motor vehicle financing scheme dubbed ‘Beba Leo’.

The SMEs will be financed to acquire FUSO trucks with a flexible repayment period that enables customers to gradually pay for them without disrupting their cash flow or working capital. Simba Corporation is the largest and sole representative for the distribution and service for a range of FUSO trucks including the new FUSO FI and the popular Fuso Canter.

The SMEs will then be allowed an agreeable payment plan which will be convenient for both the bank and the SME. The move is said to be a quest to further the sale of the trucks which are trying to catch-up with Isuzu and Ashock Leyland in the market.

Kennedy Nyakomitta, General Manager-In-Charge of Asset Finance at DTB, said the scheme was developed in a way that would allow the customer to cater to their most pressing needs without any capital outlay. “This partnership cements our commitment to grow the SME sector.  Our decision to bring on board Simba Corporation was inspired by our aim to empower SMEs by giving them choice. Now they can select from a bigger pool the vehicle that best meets their business needs,” he added.

“With Beba Leo, the customer will not be required to outlay any cash to get these vehicles. They simply need an approval from DTB after which they can collect the desired vehicle from any Simba Corp distributor across the country,” said Mr. Nyakomitta.

Mr. Nyakomitta says the scheme is one of several arrangements that the Bank has laid out to support the SME sector, who are evaluated on the basis of their financial track record, cash flows and their ability to pay.

Speaking during the signing ceremony in Nairobi, Simba Corporation Chief Commercial Officer Established Brands, Ameet Shroff, noted that customers want to grow their business to produce more and will only entertain solutions that will enable them to do what is best for them.

“Our trucks are the best in the market, and we would like all customers to have access to purchase them and have a comfortable payment period,” he said.

Shroff notes that their new FUSO FI is the best in the market in its category with an exceptional fuel consumption and that it comes with a 4-year warranty.

Customers will, in addition, receive one-year free Comprehensive Insurance Cover and enjoy after sales service from the Simba Corporation outlets across the country.