InvestorQ : What is a Commercial Vehicle loan?
Ishita Jain made post

What is a Commercial Vehicle loan?

nishi Shah answered.
3 years ago

A CV or commercial vehicle loan is a loan an individual takes to finance his/her purchase of a commercial vehicle.

Anyone from a small farmer to a shopkeeper or an entrepreneur can take a loan for the purchase of a CV.

Lenders - banks or non-banking financial companies (NBFCs) – offer commercial vehicle loans to a wide variety of customers. The different types of customers who can avail a commercial vehicle loan:

- Individuals

- First-time users and buyers

- Small, medium and large-sized fleet owners

- Proprietorship firms and partnership firms

- Public limited and private limited companies

- Trusts and societies

- Schools and colleges

- Captive customers and transporters

A CV loan is a step in the right direction for anyone involved in any business as it makes the individual’s life easier and business more convenient.