In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. List Of Best Asset Financing Banks In Kenya. List Of Best Asset Financing Banks In Kenya. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). The balance sheet of a firm records the monetary value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business.
Assets can be grouped into two major classes: tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include cash, inventory, accounts receivable, while fixed assets include land, buildings and equipment. Intangible assets are non-physical resources and rights that have a value to the firm because they give the firm an advantage in the marketplace. Intangible assets include goodwill, copyrights, trademarks, patents, computer programs, and financial assets, including financial investments, bonds, and stocks.
Here is a list of the best asset financing banks in Kenya.
Co-operative Bank
NCBA
Family Bank
Absa
Absa makes financing your assets easy by offering solutions such as flexi buy, flexi rent and flexi lease. Interest rate is 13.5% per annum.
Flexi Buy
- You own the asset while you are paying it off.
- The asset belongs to you once it is paid off.
- There is no additional fee to be paid.
- You repay capital plus interest.
- The seller charges full VAT on the cost price plus interest.
Flexi Lease
- You have use of the asset during the lease period.
- You have the option of buying the asset at the end of the lease with no obligation.
- You structure payment to suit your financial needs.
- Choose between monthly, quarterly or annual rental.
- You only pay VAT on each rental when it’s due.
Flexi Rent
- Affordable, fixed monthly payment.
- You do repay proportion of capital.
- Avoid the hassle of ownership.
- The residual value should not be less than 11% of original cost including VAT.
