NDB client buys truck with loan assistance

Business

KEVIN Siamon, from East Sepik, was a lucky client of the National Development Bank (NDB) branch in Wewak who was recently assisted with a loan of K80,000 to purchase a Mitsubishi Hino truck.
The truck costs K139,000.
Siamon was one of the many people who applied for a loan from NDB and successfully purchased the truck at half the price.
He will complete the other half payment later.
From Maprik, Siamon opened an account with the National Development Bank’s subsidiary, the People’s Micro Bank, early this year and saved as much money as he could.
He was interested in getting a loan and sought assistance from the bank.
He was required to have 50 per cent equity to be eligible to get an SME transport loan.
Within three months, Siamon was eligible to get the truck with the payment of 50 per cent and would pay the other 50 per cent, plus interest, within two years.
He thanked Wewak’s National Development Bank for helping him buy his truck.