Lakshmi Commercial Vehicle Loan (LCVL)

Overview

The commercial vehicle loan product of LVB can be availed to purchase commercial vehicles which include Oil Tankers, LPG Bullet Tankers, Multi-Axle Vehicles, Passenger Vehicles, Buses, Rig Units, JCB, Bulldozers’, Road Rollers, Poclain Units, Harvesters and earth movers etc.

Features

  • Term Loan with monthly repayment mode
  • For purchase of commercial vehicles
  • Repayable in 72 monthly instalments (maximum)

Eligibility

  • Individuals, Proprietorships, Partnerships, Private & Public Limited Companies
  • The applicant should be well-established transport operators / individuals belonging to a family well established in the transport business
  • Agriculturist and Civil Contractors are also eligible for availing loans under the scheme for purchase of Rig Units, JCBs, Road-rollers, Poclain Units, etc.
  • First Time Operators/First Time Users and Single Vehicle owners are also eligible.

Documentation

  • a) KYC documents of the applicant, Promoters & Guarantors
  • b) Quotations / Invoices for purchase of vehicles
  • c) Driving license copy of the applicant (for individual borrowers)
  • d) Funds Flow/Cash Flow statements, Profitability estimates & DSCR calculations
  • e) Collateral property documents
  • f) Any other documents as per the requirement

Loan Quantum

  • Up to Rs.15.00 Cr. For Pvt.Ltd.companies
  • Up to Rs.3.00 Cr. For Partnership / Proprietorships
  • Up to Rs.1.00 Cr. For Individual borrowers
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