United Tractor & Equipment (Pvt) Limited (UTE) and Hatton National Bank (HNB) signed a Memorandum of Understanding (MoU) recently to provide SME entrepreneurs a scheme to finance the FS Curtis air compressors.
Chief Operating Officer of HNB, Dilshan Rodrigo said, “Our decision to support the SME sector with UTE’s range of products is due to their reputation for reliability in providing efficient products coupled with their legendary after sales services which will enable our clients to be more productive and profitable. It’s a win-win solution all round.”
CEO, UTE, Riyad Ismail said, “It is a privilege for UTE to partner HNB and continue to support the youth and contribute towards SME development in the country. This MoU will help SMEs overcome business challenges through comprehensive finance solutions and in the use of pneumatic technology for their day-to-day activities.”
Under the terms of the MoU, HNB will provide a financial solution for SMEs when purchasing FS Curtis air compressors.
The terms include five-year repayment scheme at a competitive fixed interest rate throughout the term of the period or a floating rate to suit the customer income pattern. For greater customer convenience HNB has offered to process the lease facilities to customers with minimum documentation.
Through the MoU, local SMEs will have access to FS Curtis products such as the air dryer, and air filter.