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Business EconomyPosted at: Mar 17 2025 3:13PM


Poonawalla Fincorp launches commercial vehicle loan

Mumbai, Mar 17 (UNI) Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC on Monday launched Commercial Vehicle (CV) Secured Loan Business.
At launch, Arvind Kapil, MD & CEO of Poonawalla Fincorp, said in a statement that “Commercial transport sector continues to be the backbone of our growing economy. Our new Commercial Vehicle Loan directly facilitates the financial needs of transporters with streamlined processes and hassle-free documentation. It also adds clear strength to the bouquet of our secured businesses.”

Aim is to bolster the essential logistics and supply chain sectors, by enhancing transportation capabilities for CV operators. The loan covers Small, Light, and Intermediate & Heavy Commercial Vehicles from all major manufacturers, supporting both new and used vehicle purchases. Customers will also benefit from flexible, structured payment and repayment options.
As part of this launch, PFL has also introduced a technology solution aligned with its risk-first approach. The solution focuses on reducing the documentation process for customers, enabling faster turnaround time and a seamless onboarding experience. By integrating with various technology partners, the company has developed assessment framework with validation from verified sources.
With a strong focus on Bharat's tier 2 and tier 3 markets, PFL plans to initially enter 68 locations across 12 states in the first phase, with further plans to expand to 400 locations across 20 states through a hub-and-spoke model in the next phase. CV loans will be offered through direct-to-customer, dealers, and channel partners, the release added.
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Tags: #Poonawalla Fincorp launches commercial vehicle loan
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