List of Tuk Tuk Loan Providers in Kenya

Tuk tuks, also known as auto-rickshaws, are a popular mode of transportation in Kenya. They are widely used for short commutes and are often preferred due to their affordability and convenience. However, owning a tuk tuk can be expensive, and not everyone can afford to buy one outright. Fortunately, there are several institutions in Kenya that offer tuk tuk loans to aspiring owners. In this article, we’ll take a look at the list of tuk tuk loan providers in Kenya.

Here is list of tuk tuk loan providers in Kenya:

1. Equity Bank

Equity Bank is one of the largest banks in Kenya, and they offer a variety of loans to their customers, including tuk tuk loans. The bank’s tuk tuk loans are available to both individuals and groups. The loan terms are flexible, and the interest rates are competitive.

Equity Bank also offers training and mentorship to tuk tuk owners to help them manage their business successfully.

The loan attracts an interest rate of 14% per annum and a processing fee of 2.5%.

To get the loan, you will need to provide your national ID, business permit, and a quotation from a reputable tuk tuk dealer.

2. Co-operative Bank

Co-operative Bank is another well-known bank in Kenya that offers tuk tuk loans to its customers.

The bank’s tuk tuk loans are available to both individual and group owners.

The loan terms are flexible, and the interest rates are competitive. Co-operative Bank also offers insurance coverage to tuk tuk owners to ensure that their investment is protected.

The loan attracts an interest rate of 13% per annum and a processing fee of 2.5%.

To get the loan, you will need to provide your national ID, business permit, and a quotation from a reputable tuk tuk dealer.

3. Sidian Bank

Sidian Bank is a leading financial institution in Kenya that offers a range of financial products and services, including tuk tuk loans. The bank’s tuk tuk loans are available to both individual and group owners.

Sidian Bank offers flexible repayment terms and competitive interest rates.

They also provide training and mentorship to tuk tuk owners to help them grow their business.

4. KCB Bank

KCB Bank is one of the largest banks in Kenya and offers a range of loans to its customers, including tuk tuk loans. The bank’s tuk tuk loans are available to both individual and group owners. The loan terms are flexible, and the interest rates are competitive.

KCB Bank also offers training and mentorship to tuk tuk owners to help them succeed in their business.

The loan attracts an interest rate of 14% per annum and a processing fee of 2.5%.

To get it, you will need to provide your national ID, business permit, and a quotation from a reputable tuk tuk dealer.

5. Faulu Kenya

Faulu Kenya is a microfinance institution that offers financial services to small business owners and entrepreneurs.

The institution offers tuk tuk loans to individuals and groups. Faulu Kenya’s tuk tuk loans have flexible repayment terms and competitive interest rates.

They also provide training and mentorship to tuk tuk owners to help them manage their business successfully.

The loan attracts an interest rate of 18% per annum and a processing fee of 2.5%.

To get it, you will need to provide your national ID, business permit, and a quotation from a reputable tuk tuk dealer.

6. Stima Sacco Tuk Tuk Loans

Stima Sacco offers tuk tuk loans to its members who want to purchase a tuk tuk for business purposes. The loan amount is up to KES 1 million, with a repayment period of up to 36 months. The loan attracts an interest rate of 12% per annum and a processing fee of 1.5%.

To start, you will need to provide your national ID, business permit, and a quotation from a reputable tuk tuk dealer.

Conclusion

Owning a tuk tuk in Kenya can be a profitable business venture, but it can also be expensive. Fortunately, there are several institutions in Kenya that offer tuk tuk loans to aspiring owners. Equity Bank, Co-operative Bank, Sidian Bank, KCB Bank, and Faulu Kenya are just a few of the institutions that offer tuk tuk loans. It’s important to do your research and compare the loan terms and interest rates before applying for a tuk tuk loan. With the right financing and support, owning a tuk tuk can be a lucrative business opportunity in Kenya.

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