NCBA Unveils Flexible Asset Finance Solutions for PSV Operators
NCBA Unveils Flexible Asset Finance Solutions for PSV Operators
NCBA Bank http://NCBA https://ke.ncbagroup.com NCBA Bankhas rolled out new Flexible Asset Finance solutions tailored to meet the needs of Kenya’s public transport sector.
The updated financing terms are designed to give PSV SACCOs, established transport companies, and individual members greater access to affordable and inclusive funding options.
Expanded Financing Options for PSV Operators
Under the revised scheme, PSV operators can now access:
• SACCOs: Up to 90% financing with a repayment period of 60 months.
• Established PSV Companies: (Two years in operation, three or more buses) Up to 90% financing, 60 months tenure.
• Individual SACCO Members: Up to 80% financing, with flexible repayment over 48 months.
NCBA Unveils Flexible Asset Finance Solutions for PSV Operators
James Karinga, NCBA Deputy Director & Head of Asset Finance & Insurance Premium Financingnoted that;
“PSV SACCOs can now access up to 90% financing with repayment terms of up to 60 months. Individual SACCO members can get up to 80% financing with tenors of up to 48 months,”
He emphasized the bank’s new approach: “We’ve removed key barriers to credit access. No SACCO guarantees required. No need to pledge SACCO shares. More operators can now grow their fleets with confidence.”
Additionally, applicants will only need registration documents, a one-year bank statement, a proforma invoice, and an introduction letter from their SACCO for individual applications.
Why NCBA Stands Out
With these changes, NCBA is reinforcing its leadership as the market leader in asset finance, where it already commands a 35% share. The bank’s advantage lies in:
• Over 60 years of industry experience.
• A seamless, fully automated application process.
• Fast approvals – less than 1.4 days from application to decision.
• Strong partnerships with leading PSV motor dealers.
Moreover, NCBA continues to offer value beyond financing by providing business advice and support services that help operators manage risks and run more efficient businesses.
“By upgrading our PSV financing model, we are giving operators more options, less pressure, and the confidence to grow,” NCBA emphasized.
Ultimately, the bank believes these upgrades will empower more PSV operators to thrive in a competitive market.
“Our purpose is to stand with the transport sector as a true partner in progress. By making access to credit easier and more flexible, we are giving SACCOs and their members the tools to expand, modernize, and succeed,” added James Karinga.
