SME Asset Finance
Finance business equipment, vehicles, and machinery with up to 80% asset value financing. New and used assets eligible with tenures up to 60 months.
Key Features
- Up to 80% asset value financing
- Tenure up to 60 months
- New and used assets eligible
- Assets include vehicles, machinery, equipment
- Insurance bundling available
- Asset serves as primary collateral
Rates & Charges
- Insurance: Comprehensive required
- Interest Rate: 14% - 18% p.a.
- Processing Fee: 2%
- Deposit Required: 20% minimum
Eligibility Requirements
- Business operating 2+ years
- Audited financial statements
- Asset quotation or pro-forma invoice
- Minimum 20% equity contribution
Required Documents
- 📋 Certificate of Incorporation — Bring to branch
- 📋 Pro-forma invoice or quotation — Bring to branch
- 📋 Audited financial statements (2 years) — Bring to branch
- 📋 6 months bank statements — Bring to branch
Frequently Asked Questions
Find answers to common questions about our services.
Can I finance used equipment?
Who holds the logbook/ownership document?
Is insurance mandatory?
Terms & Conditions
Asset Finance facilities are secured by the financed asset through a chattel mortgage or hire purchase agreement. The borrower must maintain comprehensive insurance on the asset at all times. Failure to maintain insurance constitutes a default event.The asset must not be sold, transferred, or encumbered without prior written consent from the Bank. Repossession will be initiated after 90 days of arrears.
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