Looking for a school bus loan? Get an asset finance from NIC-BANK

    September 03, 2014   No comments

School bus loan is becoming the most popular asset finance facility in kenya.Most banks and other lending institutions take advantage of the steady transtion from hiring buses to owning buses. Nowadays ,its old school for a school for a learnig institution to lack a bus. Among many banks in kenya,today I will be talking about bus loans from NIC-BANK.
National Industrial Credit Bank abbreviated as NIC-BANK
offers an asset finance facility which is wide.It covers both individuals and corporates .Individuals can finance purchase of motor vehicles eg. matatu,cars and tractors or any moveable assets which I will talk of later on.Corporates can finance the purchase of staff cars,distribitor vehiles or school buses which I will be talking about today.The school bus loan is available to both account holders and non account holders with nic-bank.Its for financing the purchase of new buses but not repair.
REQUIREMENTS.
For chool to qualify for this loan,the following must be in place ;
.School must provide one year bank statements all accounts
.Provide a copy of ID and PIN of office officials ie head teacher or BOG chairman.
.Provide a shool PIN
.A copy of certificate of registration will be required
.BOG minutes of meetings with;
-the authority to borrow
-all collection of parents contribution
-total number of students
-PTA minutes authorizing the bus project
-letter from ministry of education authorizing borrowing and levying of funds for school bus project.
    
BENEFITS.
The nic-bank has a lot of advantage to be enjoyed by its loanees as compared to other lenders.These are;
.Faster and easy loan processing within a time period of 48 hours
.There are no hiden fees
.Low interest rate of 14.5% p.a
.Flexible repayment period of up to 60 months, paid monthly or quarterly
.This loan is available to even non account holders   
Interested? Send me back to the bank by commenting with your question below.
Thanks for your time and wish you success as you apply for this loan.
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Mwabaya Katana

Posted By Mwabaya Katana

Mwabaya Katana is a Personal Finance online writer.He is the founder of 'Loans Kenya' Blog.

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