Grace acquires Toyota Hilux
pickup through Tai Sacco
By Ndichu Kamau
Grace Wangari identified a Toyota Hilux
pick-up that could be used to expand
her booming Agrovet supply business.
She had to make a payment for the vehicle
within a specified period, failure to which the
dealer was to sell this vehicle to another customer.
“It was at this point I approached Tai Sacco
which agreed to process my loan request
within two weeks. Tai Sacco issued a cheque
to Volex General Motors, motor dealers situated
along Thika Road who released the vehicle
to me,” Ms Wangari.
Lucy Kamau, a Credit Officer at the Ruiru
branch of Tai Sacco advised Grace to look
for a dealer who had the vehicle she wanted
in the showrooms and this is the path she followed.
Grace shelved an earlier plan to seek
for a bank loan and decided to explore the Tai
Sacco option.
Grace quit her membership of another
Sacco after it failed to meet her financial
needs. She sold out her shares in this Sacco
and kept the proceeds at Tai Sacco in the form
of savings. Within a short period of time, she
was able to raise a third of total cost of the
pickup.
She has a lot of praise for Tai Sacco which
has provided a loan at friendly rates that has
made it easy for her to acquire a new pickup.
Grace owns Maco Feeds Industries, an Agro
vet firm that procures supplements from manufacturers
and redistribute to retail shops.
With the Toyota Hilux pickup, Maco
Feeds Industries is able to reach out to more
customers within Kiambu County and plans
to reach out to other Counties. Grace hopes
to repay her loan which has a term of three
years, within a shorter period.
“I commend Tai Sacco for introducing
mobile banking which has made my loan repayments
easy. I also use Tai Sacco cheques
to pay suppliers and this facility enables me
to devote more working hours in the field,”
said Ms Wangari.
Jane Mwangi, Tai Sacco Acting Branch
Manager noted that as a corporate client,
Grace observed due diligence in acquiring
all the documentations needed to process the
loan and acquire the vehicle.
Tai Sacco’s Ruiru branch is patronized by
business people, schools, churches, farmers
and pensioners.
With one account, a member can be able
to make different transactions for the diverse
products and services offered. Tai has also
tapped in the Diaspora market where members
are able deposit savings through spot
cash.
“In the future, I intend to apply for another
loan from Tai Sacco to set up a manufacturing
plant,” said Ms Wangari. She decries high
taxes, costly inputs, poor roads and exorbitant
distribution costs have lowered margins in the
agro vet business.
