Revving Up Finance: Poonawalla Fincorp Launches CV Loan Initiative!

Poonawalla Fincorp Ltd (PFL) has launched its Commercial Vehicle (CV) loan business in Tier-2 and Tier-3 markets in India. The business is designed to boost the logistics and supply chain industries by offering customized financing options for small, light, and heavy commercial vehicles. PFL will initially build its presence in 68 locations in 12 states, with plans to scale up to 400 locations using a hub-and-spoke model in the long run.

 

The new CV loans will finance new and pre-owned vehicles, providing consumers with ease in payment and simplified documentation. Arvind Kapil, Managing Director and CEO at Poonawalla Fincorp, underlined the significance of the business transport industry as a pillar of the economy, pointing out that the loans will help address financial needs effectively. 

 

Source: Economic Times