Kolkata: Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC, focused on Consumer & MSME Lending, has expanded its product suite with the launch of its Commercial Vehicle (CV) Secured Loan Business. 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. With this launch, PFL continues to embrace a risk-first approach, delivering innovative solutions that meet current and future credit demands of its customers.
As part of this launch, PFL has also introduced an innovative platform that minimizes the documentation process for customers, enabling faster turnaround time. The company has integrated with various Road Transport Offices (RTOs) nationwide into its platform through its partner, using Vahan for vehicle information. This integration facilitates digital submission of documents through e-KYC, Digilocker, Aadhaar-based OTPs, among others.
With a strong focus on Bharat’s tier 2, and tier 3 markets, PFL is entering 68 locations across 12 states initially and will expand to 400 locations across 20 states in the next financial year. CV loans will be delivered 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 “As the backbone of our economy, the commercial transport sector deserves robust support. Our new Commercial Vehicle Loan directly addresses the critical bottlenecks in financing, enhancing access through streamlined processes and reduced documentation. It also adds clear strength to the bouquet of our secured business.”
India’s booming e-commerce sector, rapid industrial growth, and ambitious infrastructure development have fueled a rising demand for commercial vehicles nationwide. The used commercial vehicle segment, projected to form a significant part of PFL’s Commercial Vehicle loan portfolio, stands as a cornerstone of this initiative, driving affordability and opportunity across the transport and logistics ecosystem.
Adopting a strategic, risk-first approach, PFL not only facilitates quicker loan disbursements but also ensures that fleet owners and transporters can expand their operations with confidence and stability. The company will also extend financing to businesses with captive transport needs, small schools, and trusts, ensuring broader access to flexible credit solutions. In addition to CV financing, the company is launching Construction Equipment Loans for contractors, hirers, and businesses to fund new and used assets and manage operational costs.
PFL continues to focus on simplifying lending, creating customer delight, and enhancing experiences, which are the company’s top priorities.
For more details, visit the website or download the Poonawalla Fincorp app.
About Poonawalla Fincorp Limited:
It is headquartered in Pune and is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The Company’s identity “P” stands for Passion, Principles, Purpose, People and Possibilities. The Company has widespread coverage across 18 states and 2 Union Territories. The Company has AUM of ₹30,984 crore as on December 31, 2024, and employs around 2560+ people. The Company’s financial services offerings include pre-owned car finance, personal loans, consumer loans, loan to professionals, business loans, loan against property and machinery loans.
