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