Assets are critical to any business. Expand your business with asset finance from Co-op Bank without tying up any other property or asset as collateral!
Our Asset Finance gives you the flexibility to finance your moveable assets without tying up any other property or assets as collateral. This is because the asset being financed becomes the security.
Asset Finance frees up your cash and helps you acquire much needed assets with minimum fuss while paying for the asset in easy monthly rentals of up to 48 months. With the asset acquired generating income for you, it practically pays for itself!
What’s more, with Asset Finance, you automatically qualify for insurance premium financing under our Co-op Insurance Finance product! You will no longer have to worry about funds to pay your annual insurance premiums on the asset we finance.
- Competitive pricing in both local and foreign currency
- Flexible repayment period of up to 48 months
- Financing of all types of moveable assets such as laptops, computers, printers, saloon cars, pickups, tractors, prime movers, school buses, generators, medical equipment etc.
- Financing of both new and second-hand assets
- Insurance premium financing for the assets purchased with the option of renewing it periodically over the duration of the facility and beyond
- Automatic reminders of insurance expiry
- Copies of identification documents, that is, Memorandum & Articles of Association as well as Certificate of Incorporation (for registered companies)
- Business Registration Certificate
- Identity cards for borrowers who do not have registered businesses
- Identity cards for directors of registered companies and registered businesses
- Bank statements for 6 months
- Audited accounts for loans above Ksh 10 million
- Resolution to borrow (for registered companies) and details of business location
- Invoices and/or importation documents
Get a facility to import a vehicle
Are you looking to Import a Car from Japan, Europe or Thailand but you’re short on finances? Get 80% financing from us!
We have formed a joint partnership with World Navi Co. Ltd, a leading Japanese exporter of used units to Africa and Europe, to enable Kenyans to import second-hand cars. The partnership guarantees a 100% safe and reliable vehicle importation including three months warranty on the engine & transmission, accident free & genuine mileage certificates and zero risk of stolen parts or non-performance.
Step 1 Identification of vehicle
- Identify a car via the internet through the Bank's approved import agent website, https://worldnavi.jp/wn
- Place an order by calling our import agent
- The import agent will print the order and prepare a general pro -forma invoice
- You will then receive the Pro-forma invoice from the import agent
Step 2 Loan Application Process
- Submit an application form, pro-forma invoice, bank statements, your ID card and your PIN certification at a Co-op bank branch for the loan consideration. We might request for additional documentations from you.
- Once the loan is approved , we will issue you with an indicative offer letter
- You will be expected to make a 20% deposit of the vehicle’s value into the import dealers Co-op bank account
Step 3 Vehicle purchase process
- The import agent will purchase the vehicle on your behalf
- The import agent conducts quality check and ships the car to Kenya
- Documents are consigned to the bank that in turn releases them to the clearing agent that will facilitate clearing and registration
- The bank will require you the customer and the import agent to fulfill some terms and conditions e.g joint registration of the vehicle, motor vehicle valuation, and get a comprehensive insurance for the vehicle.
- The import agent will deliver the vehicle to you
For more information, contact our World Navi agents via the following contacts
Khadija Ali Mohamed – 0740 727 040
Asha Swaib Adam – 0711 122 833
Lianie Beth Gala – 0712 325 088
Product Fact sheet
13% pa Reducing balance
1% on negotiated schemes
3% on non-schemes