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Vehicle and Asset Finance

Vehicle and Asset Finance

Standard Bank's Vehicle and Asset Finance facility provides short- to medium-term funding to finance the purchase of moveable assets, such as motor vehicles, for your business. The bank offers competitive and flexible terms for both individual and business customers.

Some of the benefits

No collateral

The leased asset constitutes collateral for the facility

Immediate access

Benefit to the use of the leased asset while not being fully paid for

Matched maturity

The repayment term is equated to the asset useful life

Your terms

The monthly loan repayments can be tailored to suit your cashflow
What you get
  • Competitive interest rates in both local and foreign currency
  • New or used assets may be financed
  • An insurance premium financing option is available to assist you with your insurance repayments
  • You will receive automatic reminders of insurance expiry
  • Loans can be used to finance machinery, office and medical equipment
  • Flexible financing terms may be arranged for a period of up to 48 months
  • Financing of motor vehicles ranging from saloons , pick-ups prime movers and earth movers is available
  • You may also finance second hand vehicles subject to meeting the banks guidelines and conditions
Services offered

1. Finance Leasing Facility

This is a motor vehicle / equipment financing facility where Standard Bank acquires the asset and leases it to the qualifying client over an agreed payment term of between 6 and 60 months

 

2. Sale and Leaseback

This leasing facility allows Corporates and SME's to convert their existing assets into immediate available cash as working capital, without necessarily losing the usage of the asset.

 

The subject asset must be valued by the Bank's approved valuer and Standard Bank may pay out up to a maximum of 70% of the asset value under this facility.

Repayment terms may be arranged from a minimum of 6 months to a maximum of 24 months.

 

3. Insurance Premium Financing Facility IPF

This is a short-term, fixed interest loan facility for the purposes of financing annual insurance premium bills on behalf of clients. The facility is broker driven and made be re-paid over a period of between 6 and 10 months.

 

4. Standard Bank Motor comprehensive cover

Standard Bank can arrange this insurance cover for clients, under the underwriting arrangement with United General Insurance Company Limited. Alexander Forbes Malawi Limited is the insurance broker

Examples of Assets we Finance

We finance assets that are clearly identifiable, moveable, durable, and insurable such as:

  • Vehicles – passenger and commercial.
  • Plant and machinery – manufacturing, production and processing, etc.
  • Equipment – printing machines, factory plants, office equipment, industrial generators, etc.
  • Yellow metals – construction, earth moving and extractive equipment, such as graders, bulldozers, front end loaders, tippers, pavers and compactors, quarry crushers, and excavators, etc.
  • Agriculture Equipment – tractors, irrigation equipment, harrows, planters, combine harvesters. etc.
How to get it

Formal application letter.

  • Certificate of business registration, and memorandum and articles of association (for incorporated entities).
  • Board resolution (for incorporated entities).
  • Company profile which should include company background, nature of operations/business, management background in terms of their qualifications, and experience in running business in different areas of expertise as required by the business, competition and competitor analysis, key suppliers and customers.
  • Audited financial statements for the recent two years.
  • Year to date management accounts.
  • Aged debtors and creditors list.
  • Copies of contracts the business is working on, and a summary of past contracts duly executed by the business (for entities whose engagement is contractual based i.e. consultants, transporters and construction companies).
  • Approved budget (for incorporated companies).
  • Cash flow projection/forecast covering the proposed term of the facility.
  • Quotation/Proforma Invoice of the asset to be acquired.
  • Upfront contribution (paid after approval of the facility and before the bank pays out to the supplier of the asset), depending on the type, quality and age of the asset.
  • 24 months bank statements if the applicant is not banking with Standard Bank Plc at the date of the application.
  • Copy of valid operating license (for entities whose operations are regulated by licensing and subsequent renewals

Note: Terms and conditions apply. 

  • What you get
  • Services offered
  • Examples of Assets we Finance
  • How to get it
  • Competitive interest rates in both local and foreign currency
  • New or used assets may be financed
  • An insurance premium financing option is available to assist you with your insurance repayments
  • You will receive automatic reminders of insurance expiry
  • Loans can be used to finance machinery, office and medical equipment
  • Flexible financing terms may be arranged for a period of up to 48 months
  • Financing of motor vehicles ranging from saloons , pick-ups prime movers and earth movers is available
  • You may also finance second hand vehicles subject to meeting the banks guidelines and conditions

1. Finance Leasing Facility

This is a motor vehicle / equipment financing facility where Standard Bank acquires the asset and leases it to the qualifying client over an agreed payment term of between 6 and 60 months

 

2. Sale and Leaseback

This leasing facility allows Corporates and SME's to convert their existing assets into immediate available cash as working capital, without necessarily losing the usage of the asset.

 

The subject asset must be valued by the Bank's approved valuer and Standard Bank may pay out up to a maximum of 70% of the asset value under this facility.

Repayment terms may be arranged from a minimum of 6 months to a maximum of 24 months.

 

3. Insurance Premium Financing Facility IPF

This is a short-term, fixed interest loan facility for the purposes of financing annual insurance premium bills on behalf of clients. The facility is broker driven and made be re-paid over a period of between 6 and 10 months.

 

4. Standard Bank Motor comprehensive cover

Standard Bank can arrange this insurance cover for clients, under the underwriting arrangement with United General Insurance Company Limited. Alexander Forbes Malawi Limited is the insurance broker

We finance assets that are clearly identifiable, moveable, durable, and insurable such as:

  • Vehicles – passenger and commercial.
  • Plant and machinery – manufacturing, production and processing, etc.
  • Equipment – printing machines, factory plants, office equipment, industrial generators, etc.
  • Yellow metals – construction, earth moving and extractive equipment, such as graders, bulldozers, front end loaders, tippers, pavers and compactors, quarry crushers, and excavators, etc.
  • Agriculture Equipment – tractors, irrigation equipment, harrows, planters, combine harvesters. etc.

Formal application letter.

  • Certificate of business registration, and memorandum and articles of association (for incorporated entities).
  • Board resolution (for incorporated entities).
  • Company profile which should include company background, nature of operations/business, management background in terms of their qualifications, and experience in running business in different areas of expertise as required by the business, competition and competitor analysis, key suppliers and customers.
  • Audited financial statements for the recent two years.
  • Year to date management accounts.
  • Aged debtors and creditors list.
  • Copies of contracts the business is working on, and a summary of past contracts duly executed by the business (for entities whose engagement is contractual based i.e. consultants, transporters and construction companies).
  • Approved budget (for incorporated companies).
  • Cash flow projection/forecast covering the proposed term of the facility.
  • Quotation/Proforma Invoice of the asset to be acquired.
  • Upfront contribution (paid after approval of the facility and before the bank pays out to the supplier of the asset), depending on the type, quality and age of the asset.
  • 24 months bank statements if the applicant is not banking with Standard Bank Plc at the date of the application.
  • Copy of valid operating license (for entities whose operations are regulated by licensing and subsequent renewals

Note: Terms and conditions apply.