Family Bank inks car financing deal with Simba Corp

NAIROBI: Mid-tier lender Family Bank has entered into an asset financing deal with auto firm Simba Corporation Ltd targeting individuals and small and medium enterprises (SMEs).

Under the agreement, customers will secure vehicles from Simba Corp and Family Bank will fund the deal allowing the buyer to repay the loan at a period agreed on with the financier. The partnership will see SMEs and individuals access up to 95 per cent financing from Family Bank. Schools will be eligible for up to 100 per cent financing and a free 6kVA generator with each bus purchase.