uber sidian bank

How To Benefit From Uber & Sidian Bank 10 Billion Finance & Leasing Programme

 

Two weeks after celebrating 1 million rides taken in Kenyan since its launch 15 months ago, Uber in partnership with Sidian Bank have announced a  Ksh 10 billion innovative vehicle solutions programme aimed at giving driver partners and business investors affordable access to the quality of vehicles they need to start or grow their uber based businesses.

This programme will involve a vehicle finance component delivered through Sidian Bank and a vehicle leasing solution made available through Zohari Leasing.

 

“By enabling qualifying driver-partners and investors to afford reliable, high-quality vehicles, Uber is not only helping them to establish and grow their businesses but  are also building an even more sustainable ride-sharing network in Kenya which moves us forward towards achieving our vision of being a first-choice transport solution for everyone in the country.”Noted Nate Anderson, Acting General Manager for Uber in Kenya

On the other hand Sidian Bank’s Chief Executive Officer Titus Karanja noted that besides finances, they will also provide technical assistance to the beneficiaries of this arrangement For vehicles valued between Ksh 1 million and Ksh 1.5 million, the vehicle finance component of the programme will offer qualifying driver-partners and investors up to 100% finance deals on them with a generous 36-month repayment period at a low 10.5% interest rate.

QUALIFICATION

According to Karanja, the criteria to qualify for both the finance and the leasing options will be much focused on the applicants proven uber experience than his or her credit history. “The primary qualifying requirement is more than 500 trips and an Uber rating of higher than 4.6. We expect speedy uptake of this financing package, with the entrenchment of Uber’s services in Kenya” he added  

In addition to that, drivers with no experience or track record on the Uber platform have the opportunity to benefit from the Vehicle Solutions Programme because, provided their credit record is in good standing, they can apply for classic financing from Sidian Bank for up to 90% of the purchase price of vehicles that are of sufficient quality and reliability to give them entry into the Uber driver-partner network.

This opportunity is also a key boost to drivers and fleet partners not operating on the Uber platform. They can gain access to vehicles that they can use to build up their Uber track record in order to eventually qualify for the Sidian finance or leasing solutions.

@techsahara

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  1. emmbaya2@gmail.com'

    erickson onesmus

    good morning, my name is onesmus Erickson, uber driver since October 2016. in May this year, I received message that I qualified for vehicle refinancing fro sidian bank. since then, I have never known what could have happened.kindly assist.
    email address ;emmbaya2@gmail.com

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