Commercial Motor Vehicle Loan (Trucks, Tractors and Trailers)
Jamaica
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.
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.
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