CenteLease

CenteLease is a short-to-medium term lease product targeted at individuals and/ or Organizations actively engaged in agricultural production, processing & marketing and other Business activities outside the agricultural sector like transportation, trade & commerce, Education services, health services, small-scale processing & manufacturing, hotel & recreational services for the purpose of acquiring business assets/equipment through leasing.

The Bank leases assets/equipment to individuals and/or organizations in exchange of payment of periodic rentals for periods up to a maximum of 5years. A customer automatically owns the asset once all the agreed payments/rentals have been paid. Customers can acquire assets/equipment of their choice with values ranging from a minimum of UShs. 100,000 up to a maximum of 1Billion (VAT inclusive). For activities outside the agricultural sector, the Bank leases any type of auto mobile, equipment and/or machinery. In the agricultural sector, the Bank offers finance leases for different kinds of productive equipment like Agro-processing equipments and tools for micro level producers and agribusiness traders including items like animal traction packages (ox-carts, ploughs, planters, oxen and yokes), groundnut shelling machines, groundnut grinding machines, coffee pulping machines, tractors, motor vehicles, bicycles and motor cycles for produce transportation and hand operated oil extracting machines etc. Medium sized equipment for processing or re-processing of agricultural products like motor-driven grinding machines, coffee haulers, maize hullers & mills, rice mills & hullers, milk coolers; transportation equipment like motor cars, motor vans ( refrigerated), pick-up trucks, light trucks, tractors, tractor trailers; rural energy equipments/accessories like wind mills, solar lighting systems, solar refrigerators and motor vehicles, generators etc.

Basic Requirements: 
  • Bank Account with Centenary Bank
  • Cash contribution for the asset/equipment purchase
  • Application fee starting from UShs. 50,000/=
  • Valid identification
  • Applicant resident within the branch's designated area of operation
  • Possession of relevant business experience
  • Good loan history for the case of existing borrowers
  • Applicant must be aged 18 years and above
  • Financial card

Benefits: 
  • No security required
  • Faster processing speed
  • Affordable interest rate
  • Grace periods offered on a case-by-case basis
  • Flexible repayment period up to a maximum of 5years
  • No penalty for early repayment of rentals
  • Insurance cover for the leased asset/ equipment