Bridging regional financial gaps, Aspira Launches Bizna: a tailored Asset Finance offering for Kenya’s SMEs

SMEs are the backbone of Kenya's economy, accounting for over 90% of all businesses in the country and providing employment opportunities for millions of Kenyans. However, despite their crucial role in the economy, SMEs face various challenges that limit their growth and expansion. In recent years, the Kenyan government has made significant strides in supporting the growth and development of small and medium-sized enterprises (SMEs) through various initiatives. However, access to affordable finance remains a major challenge for many SMEs in the country. Recognizing this, Aspira has launched Bizna, a new asset finance offering tailored for Kenya's SMEs. Aspira Bizna allows eligible businesses to acquire assets of up to Ksh 3M and repay over a maximum term of 24 months at a 2% monthly interest charge.

Aspira's decision to launch Bizna is a welcome move that will go a long way in helping SMEs in Kenya access affordable finance to grow and expand their businesses. This new facility will provide fundamental access to capital for SMEs to purchase the equipment they need to drive productivity and further expand. 

Speaking on this stride, our Group CEO Mark van Beuningen opines “since we launched our operations in Kenya, Aspira has been an ardent supporter of Kenyans, enabling access to funding for them to thrive. I am pleased to witness another milestone with the emergence of the Bizna financing offering in Kenya. It is well poised and will be opening up new avenues to equip this underserved market with the necessary tools SMEs need to prosper in an innovative environment.”

One of the biggest challenges facing SMEs in Kenya is access to finance. Traditional lenders often view SMEs as high-risk borrowers, making it difficult for them to access affordable finance. Aspira addresses this challenge by offering flexible asset finance to eligible SMEs, allowing them to purchase the equipment they need to grow their businesses. The assets to be funded include manufacturing equipment, production equipment, studio equipment, workshop hardware, plant and machinery and technology equipment. Aspira will facilitate in real time access to funding through prompt 24-hour-decisions and same-day purchases for qualifying customers.
“Shouldering the SME sector is vital to safeguarding the current and future economic health of the Kenyan economy. In order to ensure a robust business environment for SMEs, we must unlock their access to funding,” van Beuningen added.

The facilities offered by Aspira Bizna are crucial for SMEs looking to expand their operations and increase their revenue streams. By providing up to Ksh 3,000,000 in finance, Cim Finance enables SMEs to invest in their businesses without necessarily tapping into their cash reserves, which may be limited. 

Furthermore, by purchasing innovative operations equipment and other assets, SMEs can become more efficient and productive, enabling them to expand their operations and increase their revenue streams. This increased efficiency can translate into higher profitability, making their business models more attractive to lenders and investors. 

With Aspira, Cim Finance is playing its part in supporting the expansion journey of SMEs, and this move is likely to be welcomed by many entrepreneurs in the country. 

About Aspira 
Aspira helps Kenyans live their best life today, by enabling them to buy their dream products now and pay later in easy monthly installments! Our customers can enjoy a pleasant shopping experience with our fast, simple & secure processes, at the comfort of their homes.

Aspira has partnered with the best and most reputable retailers in Kenya, to give our customers the widest range of quality products at very affordable prices, all backed-up with the best after-sales service and support. In addition, our partners offer delivery services countrywide.

So, if you’re looking to Furnish your home, buy the latest Mobile Phone, new Household Appliances, Electronics, IT Gadgets or even take that long-overdue Family Holiday, look no further! Aspira will make your dreams come true and ensure you’re not our of pocket!

More information about Aspira on www.aspira.co.ke.