International Tractors signs pact with L&T Finance for vehicle loans

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Sonalika Group farm equipment maker International Tractors Ltd has joined hands with L&T Finance (LTF) for tractor loan financing.

The partnership aims at providing easy credit and financing benefits to Sonalika's customers across the country, the company said in a statement.

"With this tie-up we hope to reach out to those customers who are in need of tractors and are looking for funds to buy them. This tie-up will provide easy and hassle free finance options for them," International Tractors Ltd Vice Chairman A S Mittal said.

The company said on the back of high demand of its heavy duty tractors, it planned to sell more than one lakh tractors in FY15.

L&T Finance, which offers a wide spectrum of financial products and services for trade, industry and agriculture, is looking to further expand its base in rural retail financing.

"This strategic partnership will bring synergy for both the companies while benefiting their existing markets," the statement added.