Zana Za Biashara
Working with EFKen
EFKEN provides equipment loans for small and medium enterprises (SMEs) and farmers. By becoming an approved equipment supplier for our leases, you will no longer have to turn away SMEs who do not have the cash outright to purchase your equipment, or who do not have enough collateral or are not formal enough to qualify for a traditional bank loan. This will mean you can access a much larger market for your equipment.
Working with EFKen
We have a database of approved equipment suppliers which is given to customers when they attend our workshops and seminars. The customer then contacts their preferred equipment suppliers to request pro forma invoices for the equipment they require, which are included in their application. EFKEN thoroughly vets all its customers, investing in reliable applications only. If their application is approved then EFKEN will contact the suppliers to verify the pro forma invoices and prepare a final equipment package for the customer’s approval.
Once the customer has paid their down-payment to EFKen and signed a contract, EFKen will place the order directly with the supplier; note that EFKen will purchase the equipment and assume legal title, not our customer. We aim to have service and maintenance arrangements with the supplier for the tenor of the lease in order to ensure that customer’s business operates smoothly.
EFKen Preferred suppliers
We have different supplier tiers based on different levels of due diligence and the supply terms you are willing to offer. For the suppliers we partner closely with, EFKEN seeks to sign ‘Supplier Agreements’. We aim to work together to actively co-market your equipment alongside our financing, potentially producing joint adverts or marketing material and inviting you to participate in marketing events or seminars.
... Preferred suppliers
We prefer suppliers with equipment in stock, and with technicians and stocks of spare parts available locally. We also expect our equipment suppliers to work with us to help us understand operating requirements for their equipment so that we can ensure our customers are in a position to succeed. Your equipment prices must always be competitive so that our customers get a fair deal and can compete in their chosen markets.
To qualify as an approved supplier, you will need to undergo vetting including;
- Review of all available documentation including business license, PIN certificate, VAT certificate, certificate of incorporation, and any other licenses as applicable;
- Depending on the supplier tier, some form of proof of your financial stability, potentially including audited accounts,
- We may require references from customers who have procured this type of equipment from you in the past in Kenya or the East Africa region;
- A site visit to your premises; and
- A price comparison for the equipment you provide.