NCBA Bank has launched a new partnership with Car & General that will make it easier for Kenyans and SMEs to access critical equipment and tools to grow their businesses.

With the new agreement, NCBA Bank customers can now get up to 90 per cent financing to purchase equipment, and enjoy repayment periods of up to 60 months.

Better still, they get to enjoy a 60-day grace period, meaning they will not make any payments for the first two months after receiving the financed asset.

This, in essence, gives business owners sufficient time to put the equipment to productive work before they commence repaying.

“This is what sets NCBA apart,” said NCBA Group Director, Asset Finance and Business Solutions, Lennox Mugambi.

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Mungambi added: “In today’s competitive asset finance landscape, we stand out through quality partnerships, ease of access, and customer-focused financial solutions.”

The partnership comes at a time when the demand for machinery in construction, transport, agribusiness, and manufacturing sectors has witnessed a sharp increase across the country.

However, despite this growth, many SMEs still struggle to afford the equipment they badly require to expand their business due to high upfront costs and tough loan requirements.

NCBA is now removing those barriers, no extra collateral is needed beyond the asset itself giving SMEs a real opportunity to modernise, scale, and stay competitive.

“The construction industry contributed 6.3 per cent to Kenya’s GDP growth in 2024, yet credit to the sector dropped significantly.

“But the rise in approved private building plans in Nairobi, up to Sh221.6 billion, shows investor confidence.”

Mugambi says NCBA decision to to finance construction equipment is timely as it assists developers and contractors to maintain momentum even in tight economic conditions.

On his part, Car & General CEO Vijay Gidoomal says their mission aligns with NCBA’s goal of providing holistic, customer-driven solutions and is backed a strong network of branches and after-sales support across East Africa.

“This partnership breaks financing barriers for MSMEs, giving them the tools to grow to the next level,” indicated Gidoomal.

For Kenya’s SMEs, this deal opens the door to affordable, accessible, and flexible equipment financing in a market where the difference between survival and scaling is often access.