Tata Motors has signed a Memorandum of Understanding (MoU) with ESAF Small Finance Bank, to offer financing solutions to its commercial vehicle customers.
Initially focused on Small Commercial Vehicles (SCVs) and Light Commercial Vehicles (LCVs), the partnership will expand to include financing for Tata Motors' entire commercial vehicle portfolio.
Vinay Pathak, Vice President & Business Head – SCV&PU, Tata Motors, said, “Our partnership with ESAF Small Finance Bank enhances access to seamless financing solutions for our customers in deeper pockets of the country. This collaboration further strengthens our endeavour to boost entrepreneurship and job creation, particularly in first- and last-mile logistics.”
Hemant Kumar Tamta, Executive Vice President, ESAF Small Finance Bank said, “With our extensive network and expertise in financial inclusion, we are confident that this partnership will stimulate significant growth and support the ambitions of commercial vehicle businesses.”
Tata Motors offers extensive range of sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, ranging in small commercial vehicles and pickups, trucks and buses segments to address the evolving needs of logistics and mass mobility segments. The company has an extensive network of 2500 plus touchpoints, manned by trained specialists and backed by easy access to Tata Genuine Parts.