Motor Vehicle Loan
Jamaica
The Commercial Motor Vehicle Loan offered by Gateway offers members the opportunity to receive up to 90% financing for personal vehicles, with up to 6 years to repay, that would serve to help businesses expand their commercial fleet of vehicles and in turn grow business as well. There is no minimum amount disbursed for this loan.
FUNDS
US$500,000 - US$500,000
INTEREST RATE
12%
INDUSTRIES
All
Eligibility
ANNUAL REVENUE
US$500,000 - US$500,000
REQUIRES COLLATERAL
4 YEARS
Qualifications
Must be a member of the Gateway Co-operative Credit Union
Documents Required
• 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)
Application Process
N/A
Other Information
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
876-952-7047
876-940-7710
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