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By Phyllis MUCHOKI
Paint maker, Crown Paints PLC Kenya Monday signed a financial contract with I&M Bank, in a move that will see authorized paint dealers and customers access quick and convenient working capital when they place orders exclusively from Crown Paints.
Under the stock financing solution, I&M Bank will provide an Unsecured Loan of up to KES. 10 million to existing Crown Paints dealers who will be required to repay it within 60 days.
Cash customers will be eligible for a loan of up to KES. 500,000 to be repaid within 60 days while Crown Your Space customers and Team Kubwa Sacco members will receive loans ranging from KES. 150,000 to KES. 500,000 to be repaid within 12 – 24 months. Customers who wish to access these facilities will conduct the process through a code USSD *458#.