This loan product offered by Gateway is to help businesses acquire Trucks, Tractors and Trailers that would help businesses with their productivity and competitiveness. The Commercial Motor Vehicle loan offers members up to 80% financing on trucks, tractors and trailers up to 20 years old. There is no minimum amount disbursed for this loan.
Commercial Motor Vehicle Loan (Trucks, Tractors and Trailers)
Must be a member of the Gateway Co-operative Credit Union
• A valid driver’s license
• Credit report from a credit bureau
• Employment Letter
• 3 recent payslips, where using a guarantor, their payslips and employment letter must be presented
• Passport sized pictures
• Sales Agreement or Pro Forma Invoice from Car Dealer/Vendor
• Valuation Report
• Copy of Motor Vehicle Title/ Import Entry Document
• Copy of Fitness and Registration Certificates
• Insurance Quotation (Comprehensive Only)
• Road Permit (for vehicles that will be used for commercial purpose)
You may receive up to an unlimited amount in Available Funds.
The vehicle will be used as the collateral for this loan.
Gateway Co-operative Credit Union
Gateway Co-operative Credit Union is a credit union that empowers its members socially and financially through a wider range of products and services to achieve better returns on their membership investment.
20 Church Street, Montego Bay