Taxi Collateral Loan
What is Taxi ORCR Loan?
This particular car collateral loan is aimed at helping public utility vehicle owners get the leverage of getting extra cash from our of using their fully owned taxi, tnvs or UV Express with franchise as collateral. Here, we only take the original ORCR and attach just a copy of the franchise to qualify. While some client told us that they will use the cash loan to purchase another unit, some would ideally use it for minor repairs and maintenance on a short budget. There are a few who would be using the loan to pay for utility bills and other daily or regular household finances or personal needs.
Usually misquoted as an acquisition or taxi financing loan, some interested parties would even ask if there is a hulog boundary option to acquire a unit. It's fine but just to make it clear, we don't currently offer financing for purchase of a public utility vehicle or taxi. Instead, if you arrived here in our page and already own a running unit, you can pawn that unit to use so you can come up with additional cash to use a down payment to buy another. Otherwise, if you own a TNVS or UV Express franchised vehicle, you may also avail of this secured loan product.
Who May Avail to Apply for this Product?
Ideally, all public utility vehicle owners may apply for this type of loan offer. It does not also necessarily have to be a taxi unit. It can be a Grab, UV Express or Uber franchised car and yes sometimes, a school service car with yellow plate or a truck with yellow plate and intended for public use. FB L 300 is also an accepted unit for this particular loan for as long as it falls in the same category and with necessary requirements as listed below.
Clear copy of OR and CR
2 valid IDs of borrower or vehicle owner
Proof of income is not needed as your franchise is instead required for proof of income as public utility vehicle with regular boundary
Latest electric or water bill (even if not under your name)