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Financing business assets does not have to be a strain on your resources. Whether you need to finance vehicle or capital equipment, we'll find a cost-effective and flexible asset finance solution. We'll also structure the package around your cash flow and tax requirements.
With Barclays Vehicle and Asset Finance, you can now purchase your new business equipment knowing that you can use the same purchase as its security. And with itslow deposit and longer repayments it helps make growing your business even easier.
- Only 10% deposit
- Longer repayments plans of upto 60 months
- Low amounts borrowed from only Kshs. 500,000/-
- A flat processing fee
Which assets do we finance?
- Moveable assets: Cars, trucks, trains, busses, forklifts, capital equipment, plant equipment, IT Equipment, etc.
- New and Used
- Imported assets
Benefits of Asset Finance
- Can acquire assets for future use at today's cost
- Reduces pressure on working capital
- Repayments structured to meet cash flows
- Term finance
- Early settlement options available
- Balance sheet management
- Obsolescence
- Tax efficient
- Security structures
- Basis of charging interest rates
Interest Rates
Barclays offers competitive interest rates pegged to each customers' risk profile.
Interest calculations are based on reducing balance basis as opposed to the flat rate basis which is the current common market practice.
Reducing Balance / Flat Rate Comparison
Principal Debt Kes 3 000 000
Finance Period 36 months
Reducing Rate 10% Kes 96,801 Per Month
Flat Rate 10% Kes 108,333 Per Month
| Year | Reducing Balance Interest Charged | Flat Rate Interest Charged | Difference |
| Yr1 | 259 391 | 300 000 | 40 609 |
| Yr2 | 164 916 | 300 000 | 135 084 |
| Yr3 | 60 856 | 300 000 | 239 414 |
| Total | 484 856 | 900 000 | 415 155 |
Tenor/Term/Structures
- Barclays will consider terms ranging from 12 to 60 months
- Payments can be structured to suit cash flow needs. - Monthly, Quarterly , Half-yearly, Annually
- Seasonal or skip payments
- Balloon payments
- No legal fees incurred
End of Term - What are the end of the term options?
The finance agreement and structure of the transaction will determine what the end of term conditions are.
- FlexiBuy
- Ownership automatically passes on full and final payment
- FlexiRent
- Various options available (note Tax requirements)
- Secondary rentals
- Ownership can usually be negotiated
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