KATHMANDU : Samir Thakur, CEO of Hulas Finserv Hire Purchase Company, said around 80% of the loans provided by hire purchase companies are currently going towards vehicle purchases.
Speaking at the “Mobilizing Mobility Through Finance and Insurance” program organized by the Nepal Automobile Importers and Manufacturers Association (NAIMA) on Thursday, Thakur said hire purchase companies provide loans for vehicles as well as household goods and other products.
“Our target customers are those who cannot easily access bank loans. Our main focus is to provide small loans to such customers,” he said.
According to Thakur, hire purchase companies also borrow from banks and use those funds to provide loans to customers. He said these companies have provided around Rs. 40 billion in loans so far.
“Of the loans provided recently, around 80% have gone towards vehicles and 20% towards mobile phones,” he said.
Thakur said hire purchase companies also serve customers who may find the banking process difficult. They can provide loans within a few hours, making the financing process quicker and easier for customers.
