Firm lends vehicles to CRB listed clients
SEE ALSO :Credit reference bureaus explained“Some debts may be huge to repay at once, yet the vehicle repayment is much smaller,” says the company’s Commercial Director John Mogire. Model He says the firm looks beyond a person’s credit history through its innovative financing model. “Clients that are listed by CRB but have a solid contract need not worry. All they need is to pay a deposit of 50 per cent and hit the road with the truck of their choice,” he says. The commercial vehicle earns money that assists the client to repay the debt, with Quipbank keen to exploit a market that they say is under-served. They have started the programme with 13-tonne trucks.
SEE ALSO :2.3m more seek services of CRBsThe firm’s model is expected to boost asset acquisition as well as turn around clients’ businesses to enable them secure future financing opportunities. Quipbank specialises in mining, construction and agricultural equipment, and other automotives such as trucks and trailers.