Elizade JAC Motors has partnered with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to help small businesses finance the purchase of trucks for their operations.
The initiative targets SMEs that depend heavily on hired vehicles, transporters or ageing trucks to move goods and supplies. It provides access to JAC trucks ranging from 1.6 tonnes to 10 tonnes, with petrol, diesel, hybrid and CNG options available.
Elizade JAC’s Chief Operating Officer, Arvind Bhardwaj, said the financing scheme is designed to help businesses move from repeatedly paying for transportation to owning vehicles that can serve as productive assets.
The company said its assessment showed that an SME using a used truck could spend about N8.7 million more over five years because of maintenance, repairs, tyres, batteries and other running costs.
Under one financing option, customers would provide 20 per cent upfront and finance the balance over four years at an illustrative annual interest rate of 25 per cent. The monthly repayment for the 1.6-tonne truck was projected at less than N800,000. Another option allows buyers to pay 10 per cent to reserve a vehicle while financing is processed through a bank.
The partnership comes as high transportation and logistics costs continue to weigh on small businesses, making access to productive assets an important part of SME growth.
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