Poonawalla Fincorp Launches Commercial Vehicle Loan

Poonawalla Fincorp Limited focused on Consumer & MSME Lending, has expanded its product suite with its Commercial Vehicle (CV) Secured Loan Business launch. This new offering aims 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 customers’ documentation process, enabling faster turnaround time and a seamless onboarding experience. By integrating with various technology partners, the company has developed an assessment framework validated by verified sources.

Poonawalla Fincorp 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 company has onboarded industry professionals to provide tailored financial solutions and enhance customer experiences.

Commenting on the launch, Mr. Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp, said “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.”