Trading is an essential aspect for any business or venture as it allows you to receive goods that may be a part of it. Additionally, trading is necessary for getting products for personal use. For the most part, trading can be done with relative ease since a range of vendors and traders may be available locally. However, certain goods and products may require you to trade across borders in another country. This is certainly not impossible but can be quite a complicated task due to a range of obstacles that may appear. Often, this can make the whole process not worth the hassle. So is there an alternative that can make getting goods and products across borders easier?
Yes, the answer is import financing services.
But what is import financing? What makes it such an attractive solution? How can Mwananchi Credit Ltd. help you in this regard? We will answer all these questions in the following article. Without further delay, let’s get into it.
What are Import Financing Services?
Import financing services refer to the financial transactions involved when getting goods or products imported from another country. It can serve as a great option as it allows importers to borrow a portion of the money while they wait for the goods or products to arrive. Typically, importers will need to deposit a percentage of the product’s value that they are importing.
What makes it so useful is that the third-party financing company can provide guarantees to both the importer and exporter. This ensures that all the transactions are conducted with transparency and honesty. You can get a range of products and goods financed through these services.
Why get import financing services from Mwananchi Credit Ltd.?
Mwananchi Credit Ltd. is an established financing company in Kenya that has been helping its customers with a variety of specialized loans and financing options. We have been doing so for many years. We have enhanced the lives of our clients who have chosen to do business with us. We ensure that each of our services is up to par and timely to satisfy you. We have branches all over the country of Kenya, so you can visit us with ease wherever you may be. These branches are located in Kisumu, Eldoret, Thika, Nairobi, Kitengela, and Mombasa. Our customer service team is trained to reply to you promptly to have a hassle-free experience with us. Similarly, our import financing services are excellent for Kenyans who require goods and products not typically available in the country.
What import financing services does Mwananchi Credit Ltd. provide?
At Mwananchi Credit Ltd., we cater to all your car import financing needs by allowing you to import a car from anywhere globally. This ensures that you can get your dream car from countries where car manufacturing quality is a lot higher. We also provide import financing for machinery, raw materials, electronics, and second-hand clothing (Mitumba). Such goods and products can serve as vital resources and initial capital for your business to prosper.
What is the advantage of import financing?
Typically, people tend to opt for importing a car through import financing. But what makes import financing with us more beneficial than doing so by yourself. Well, there are many benefits of import financing. These are:
- Savings on costs. Getting your car imported yourself may lead to unforeseen or hidden costs. We make sure all transactions are transparent.
- Getting a quality service since we are experienced with financing and importing. You might not get such a service dealing with an inexperienced local company.
- Obtaining a high-quality car. For example, you can get cars made in Japan that are of superior quality compared to the vehicles in Kenya.
- Obtaining high-quality capital in the form of machinery that is necessary for starting a factory or business.
- Obtaining high-quality resources necessary for starting a successful business revolving around importing.
- Flexible repayment periods ensure you won’t have to worry about spending all the money and can wait till the car arrives.
- A smooth experience as we take care of any processing and registration involved. We’ll have the car right at your doorstep without you having to do anything yourself.
What is the process flow for getting a car import financed?
We know most people getting a car imported can get anxious as they think that something may go wrong in the process. We are here to ease this anxiety for you by providing you with all the process details. This ensures that you know exactly what goes on in each step in the process flow. The process flow includes the following steps:
- We verify any inquiries you make by contacting you and confirming that you are ready to take the offer.
- As the client, you will provide us with the specifications and details of the vehicle you are interested in getting imported.
- We forward these details and specifications to our trusted partners.
- These partners will provide options to clients based on the estimated landing costs involved for the car.
- Confirmation of the vehicle choice by client. The client will be required to make an initial 30% deposit of the car value.
- This will be followed by an Interim offer letter for proper booking in our CBS.
- After this, you will be required to sign the actual offer letter sent to you.
- We will provide the car to you once registration has been completed successfully.
What are the requirements for import financing a car?
We try to make the requirements as hassle-free as possible for your ease. As such, the requirements of getting your car imported are:
- Bill of lading
- Jevic/Export Certificate
- English/Japanese Logbook (Alternatively, a logbook of the country from where the car is being imported)
- Import Declaration Form
- KRA PIN
- National ID Copy.
Once you have given us the necessary information, the process will be swift. You will be able to get the car on your doorstep within just 45 working days. We will take care of all the steps, including clearing it and registering it at the port of Mombasa.
Who can apply for import financing?
Anyone who requires a car from abroad can apply for these import financing loans. Additionally, anyone who needs goods from abroad can also apply for this loan. We assure you that our partners make the process as smooth and light on your wallet as possible. However, you will have to make a 30% initial deposit with any import you want financing, so you will have to have this amount with you when applying for import financing. You can contact one of our customer reps to inquire about this exact amount.
The bottom line
Getting goods and products from abroad may be necessary for business ventures or simply for getting a better product for personal use. For such a situation, opting for import financing services can be a good solution as it helps counter so many of the problems you may face with importing. Mwananchi Credit Ltd. is a great provider of import financing, which will make you feel like you have essentially crossed your borders when you trade with minimal hassle. We have discussed how you can get our excellent import financing services. So what are you waiting for? Contact us now!