Wnt to own a Tuk-tuk? Tuk-tuk loan providers assist people who want to own three-wheelers to do so in a convenient way even if they don’t have enough money.
in Kenya Tuk-tuks, or auto-rickshaws, are a common means of transportation in Kenya. They are commonly utilized for short commutes and are frequently selected because of their price and convenience.
Owning a tuk-tuk, on the other hand, can be costly, and not everyone can afford to buy one outright. Fortunately, there are various institutions in Kenya that provide potential owners with tuk-tuk loans. In this article, we’ll look at a list of tuk-tuk lending companies in Kenya.
List of tuk-tuk loan providers in Kenya
1. The Equity Bank
Equity Bank is one of Kenya’s largest banks, and they provide its customers with a variety of loans, including tuk-tuk loans. Individuals and organizations can apply for tuk-tuk loans from the bank. The loan terms are adaptable, and the interest rates are reasonable.
Equity Bank also provides tuk-tuk owners with training and support to help them operate their businesses successfully.
The loan has a 14% annual interest rate and a 2.5% processing charge.
To qualify for the loan, you must give your national ID, a company permit, and a quote from a respectable tuk-tuk dealer.
2. Bank cooperative
Another well-known bank in Kenya that provides tuk-tuk loans to its customers is Co-operative Bank.
Individual and group owners can apply for tuk-tuk loans from the bank.
The loan terms are adaptable, and the interest rates are reasonable. Tuk-tuk owners can also get insurance from Co-operative Bank to protect their investment.
The loan has an annual interest rate of 13% and a processing charge of 2.5%.
To qualify for the loan, you must give your national ID, a company permit, and a quote from a respectable tuk-tuk dealer.
3. Sidian Bank
Sidian Bank is a well-known Kenyan financial company that provides a variety of financial goods and services, including tuk-tuk loans. Individual and group owners can apply for tuk-tuk loans from the bank.
Sidian Bank provides flexible payment terms as well as reasonable interest rates.
They also offer tuk-tuk owners training and mentoring to assist them build their businesses.
4. The KCB Bank
KCB Bank is one of Kenya’s largest banks, offering a variety of loans to its customers, including tuk-tuk loans. Individual and group owners can apply for tuk-tuk loans from the bank. The loan terms are adaptable, and the interest rates are reasonable.
KCB Bank also provides tuk-tuk owners with training and support to assist them to flourish in their businesses.
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The loan has a 14% annual interest rate and a 2.5% processing charge.
To obtain it, you must present your national ID, company permits, and a quote from a respectable tuk-tuk vendor.
5. Kenya Faulu
Faulu Kenya is a microfinance firm that provides financial services to entrepreneurs and small business owners.
Individuals and organizations can apply for tuk-tuk loans at the institution. Tuk-tuk loans from Faulu Kenya feature flexible payback terms and affordable interest rates.
They also offer tuk-tuk owners training and mentoring to help them operate their businesses properly.
The loan has an annual interest rate of 18% and a processing charge of 2.5%.
To obtain it, you must present your national ID, company permits, and a quote from a respectable tuk-tuk vendor.
6. Stima Sacco
Stima Sacco provides tuk-tuk loans to its members who want to own a tuk-tuk for commercial use. The loan is for up to KES 1 million and has a payback duration of up to 36 months. The loan has a 12% annual interest rate and a 1.5% processing charge.
To begin, you must present your national ID, company permits, and a quote from a respectable tuk-tuk vendor.
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Conclusion: List of Tuk Tuk Loan Providers in Kenya
Owning a tuk-tuk in Kenya can be a lucrative business, but it can also be costly. Fortunately, there are various institutions in Kenya that provide potential owners with tuk-tuk loans.
Among the financial organizations that provide tuk-tuk loans are Equity Bank, Co-operative Bank, Sidian Bank, KCB Bank, and Faulu Kenya. Before applying for a tuk-tuk loan, do your homework and compare loan terms and interest rates. Owning a tuk-tuk in Kenya can be a successful business option with the correct financing and support.
