Truck asset finance refers to a financial arrangement where a lending institution, such as a bank or a leasing company, provides funds for the acquisition of trucks. These funds can be used to purchase new or used trucks, allowing businesses to acquire essential assets without paying the entire cost upfront.
Truck asset finance typically involves the lender providing a loan or a lease agreement, which the borrower then uses to acquire the truck. The borrower repays the loan or lease amount over a specified period, along with any applicable interest or fees.
This type of financing is commonly used by businesses in industries such as logistics, transportation, construction, and agriculture, where trucks are essential for operations. Truck asset finance offers several benefits, including preserving cash flow, enabling businesses to access newer and more efficient vehicles, and providing tax advantages in some cases.
Asset Finance Requirements Checklist:
Identification Documents for Registered Companies:
- Memorandum & Articles of Association
- Certificate of Incorporation
Business Registration Certificate
- Identity cards for borrowers without registered businesses
- Identity cards for directors of registered companies and businesses
- Bank statements covering the last 6 months
- Audited accounts (for loans exceeding Ksh 10 million)
- Resolution to borrow (for registered companies)
- Details of business location
- Invoices and/or importation documents
Need More Information
Contact us by clicking the link here below.