Its a term loan provided to businesses and transport operators to finance the purchase of new vehicles required for transport or other business activities. The financed vehicle must meet regulatory standards and be registered as collateral in the Bank’s favor. Borrowers must have the required license, provide a genuine pro-forma invoice and relevant documents, and contribute at least 40% of the vehicle purchase price from own funds. This contribution may be reduced to 10% where additional building collateral covering at least 50% of the loan amount is ...
Its a term loan provided to businesses and transport operators to finance the purchase of new vehicles required for transport or other business activities. The financed vehicle must meet regulatory standards and be registered as collateral in the Bank’s favor. Borrowers must have the required license, provide a genuine pro-forma invoice and relevant documents, and contribute at least 40% of the vehicle purchase price from own funds. This contribution may be reduced to 10% where additional building collateral covering at least 50% of the loan amount is provided. The loan is repayable within a maximum of five years, including any grace period.
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