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THIRUVANANTHAPURAM: The first loan sanctioned under a scheme jointly floated by the public sector Kerala Transport Development Finance Corporation (KTDFC) and the Hindustan Motors (HM) was distributed here on Monday by the Transport Minister, Mr N. Sakthan.

The loans are given to vehicles such as school vans, cargo vans, ambulances and pick-up vans that are newly rolled out into the market by HM.

The loans are available to individuals and institutions in the private sector on their own security on production of their income tax certificates. The Government employees can avail themselves of the loan on their own security on the strength of their salary certificates.

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