This facility enables clients to acquire tangible assets like vehicles, machinery furniture and fittings, electronics and other assets for business or personal use. This loan ranges from Ksh 50, 000 – Ksh 10 million, with the same financed asset as Security/Collateral and is processed within 48 hours.
Benefits of Asset Finance
- Competitive interest rates.
- Flexible repayment arrangements.
- No penalty for early repayments.
- Repayment period of up to 48 months.
- Up to 90% financing for new vehicles and 70% financing for second hand vehicles
Requirements
- 6 months certified bank statement
- Licenses and necessary permits
- Sale agreement with the vendor and 30% deposit in customer’s Nolan’s credit account
- Business Registration Certificates where applicable
- Sketch Map Area of Residence and business premises
- ID and PIN copies of individual/business owners /Company directors
- Copy of company pin and Certificate of Registration for companies
- Copy of VAT certificate where applicable
- Resolution to borrow for partnerships and companies
- Memorandum and Articles of Association for companies.
- Current tax and company returns
- Copy of utility bills i.e. water and or electricity
- Evidence of business i.e. contracts, receipts of business transactions etc.
- 2 passport size photos
- Vehicle to be fitted with anti-theft device
- Pro forma invoice from dealer/vendor