BBVA USA offers loan discounts on alternative fuel commercial vehicles
BBVA USA has unveiled its second product geared towards environmental sustainability, announcing a rate discount on secured term loans for fuel-efficient commercial vehicles. The loan provides a .75 percent rate discount for hybrid, electric, natural gas or hydrogen fuel cell vehicles. The announcement comes on the heels of a BBVA USA commercial real estate product launch that focuses on sustainability, a key pillar of the bank’s 5-year strategic plan.
“We’re confidently moving forward on products that will both support our small business clients’ financial health and help them contribute to securing an environmentally sustainable future,” said BBVA USA Small- to Medium-Enterprises Network Executive Elizabeth Dobers. “These product launches are significant steps in the right direction for our small businesses and communities.”
Commercial clients are eligible for the secured term loan rate discount when financing commercial vehicles through BBVA USA from a licensed auto dealer. Potential benefits also include competitive low fixed rates, and terms up to five years. Healthcare providers can receive an additional .15 percent rate discount. Commercial clients must apply by December 31, 2020.
“We want to make environmental sustainability, and the steps toward that goal, convenient for our commercial clients and their overall operations,” said BBVA USA Small Business Credit Products & Processes Manager Stan Demarest. “When we develop these products, we take into account not only environmental sustainability, but how we can make it easy for these businesses to save money in a time where every dollar counts. On BBVA’s side, we want these products to continue to advance the bank’s overall strategy and hit measurable business and sustainability targets for our overall bottom line.”
These recent products reflect BBVA USA’s second of six pillars that guide the bank’s strategic plan, focused on environmental and economic sustainability, among other issues.