Nairobi, Kenya, May 06, 2019… Leading construction and building equipment supplier, Ganatra Plant & Equipment Ltd and NIC bank have today signed a financing partnership that will enable customers to purchases new JCB Back-hoe Loaders.
The partnership is seeking to reduce the financial load from the customers by offering them flexible financing terms including a cost reduction of 20%. NIC will offer a 80% financing thus offering small medium enterprises and corporate organisations the opportunity to acquire the Back- hoe Loader through asset financing, therefore freeing up cash that can be directed into other business opportunities.
Speaking during the event, NIC Executive Director Alan Dodd said: “We have come together to offer an innovative financing scheme that will allow Ganatra customers access finances to purchase vehicles at very favourable terms. This offering presents a strong value proposition to customers who are keen on expanding their businesses and buying new assets but face strained cash flows.”
Dodd added that through the partnership, Ganatra demonstrates their shared goal of empowering small businesses to grow and expand by assisting clients with deposit payment. He further noted Ganatra Plant and Equipment is a partner that shares their goal of empowering small businesses to expand by providing its clients with high quality machinery at the most competitive prices in a fast, efficient and reliable manner.
On his part, Ganatra District Manager, East Africa, Mr.Saurabh Gandhi, said “Kenya is a very important market for JCB because of the country’s fast economic growth. The growing urbanization is in turn driving massive infrastructure growth. JCB is in a position to support this growth with its market leading construction equipment range”.
“By significantly reducing the cost of procuring a JCB Back-hoe Loader, we hope to increase mechanization to boost productivity. The offer will also be attractive to Kenyan entrepreneurs who can make very high returns by renting out the machines. We want to also make it affordable so that customers currently looking at used equipment can now opt to buy new machines instead”.
The JCB Back-hoe Loaders targets Agricultural sector, Building & Construction, waste management, among other.