About Clix Capital /the Clix Story
Clix Capital Services Private Limited is an unlisted private company incorporated on 11 February, 1994.It was formerly known as GE Capital Services.
GE Capital is the financial services unit of General Electric the American multinational corporation, famous worldwide for its range of services & products. GE Capital Services India Limited provides non-banking financial services to corporate and consumer customers in India.
In April of the year 2015 GE declared its decision to sell of its financial business: the assets of GE capital to concentrate on GE’s core industrial businesses – GE Capital Aviation Services (GECAS), Energy Financial Services (EFS) and GE Industrial Finance. Since GE has been exiting its financial services business globally to refocus on its core industrial manufacturing activities.
GE Capital Services India Limited has been bought over by a Mauritius based entity Plutus Financials Put Ltd. Plutus is jointly owned by Pramod Bhasin & Anil Chawla top executives at former GE Capital and AION Capital Partners.
GE Capital Services India Limited is now known as Clix Capital Services Pvt. Ltd, a non-bank lender majority owned by private equity firm. The company has a total paid-up capital is INR 1,297.08 cr & has also secured loans in the amount of INR 1,050.00 cr.
Bhavesh Gupta a top executive at IDFC Bank at the helm as the Chief Executive Officer Clix Capital now looks forward to establishing a firm Identity in the financial sector.
Why Clix Capital for Business Loans
The survival & growth of small scale enterprises/industry are essential to a developing economy. The small scale industry that flourishes, offers employment & livelihood to multitudes from all strata of society.
Availability of Capital is essential for the smooth running of any business enterprise: the requirement for funds was traditionally fulfilled by borrowing from family/friend or a money lender who charged exorbitant amounts as interest. With the emergence of banks & NBFC‘s funding is now readily available for business expansion & growth.
Clix Capital is here to provide financial assistance to the SME, s /MSNE, s of our fast developing economy. Self Employed individuals, professionals & firms.
Business Loans from Clix Capital are easy to get & simply the fastest way to achieve funds.
Charges for a business loan from Clix Capital
RATE CHART | |
---|---|
Rate of Interest | 18% @ monthly reducing balance |
Processing fees | 2% |
Bounce charges | ₹ 1000/-per presentation of cheque |
Outsatnding Interest | 3% (on any amount 30 days past due) |
Foreclosure Charges | |
---|---|
< 12 months | 6% of principal outstanding amount |
12 - 24 months | 5% of principal outstanding amount |
24 - 36 months 5% | 4% of principal outstanding amount |
> 48 months | 3% of principal outstanding amount |
Advantages of a Business Loan from Clix Capital
Unsecured loans without any collateral are offered to small & medium business men to fulfil their financial requirements. Loans may be applied towards;
- The daily capital expenses required for running of the unit.
- For funding of specific projects
- Purchase of New machinery to upgrade the existing manufacturing.
- To invest in an ancillary unit for your existing Business.
The Loan amount can be returned conveniently in flexible EMI’s as per the convenience of the applicant.
Unlike investments from private equity firms or entities, there is no need for profit sharing.
The rate of Interest is reasonable as compared to funding from local money lenders, charged @ monthly reducing Balance.
Business Loans forwarded with Clix capital are transparent without any hidden charges.
Clix Capital Business Loans Policy
Customer segments where the business profile is good & the business portfolio is positive are the preferred sourcing criteria for Clix Capital Business Loans.
To further classify segments eligible for unsecured funding are listed as per the chain of development which is
- Manufacturer
- Wholesaler/Trader/Retailer
- Services
Manufacturer
The manufacturing industry is the basis & inception for all products. It is this industry that requires Raw material & is labour intensive. Investments are required for machinery & capital for running expenses.Clix Capital provides unsecure funding for Manufacturing units of all industries with a turnover of ₹ 1 crore annually;
All manufacturers are eligible for business loans baring the industries which are in the negative category: which include manufacturing units for Metals, Jewellery, Commodity, and Builders & Contractors for Builders.
Wholesaler/Trader/Retailer
Turnover requirement is ₹ 1crore
Wholesalers buy large quantities of goods from distributors or vendors. They warehouse the products for shorter periods of time, for example three to six months, whereas a trader sells smaller quantities of goods. Traders may further sell to Retailers or directly to customers. Retailers sell goods directly to the customers.
Preferred enterprises under this category are Auto Ancillaries, Chemicals, Printing & Packaging, Consumer durables & a host of other leading industries. Companies prevalent in the negative list should not be sourced.
Services
The growth in the services industry has been unprecedented. Increase in income, & up gradation Of lifestyle has led increase of spending. All professionally managed services are drawing increased profits. Professionals are now increasingly becoming self employed & running successful ventures.
Professional Services that are offered Loans for their business under this category IT/ITES, Hotels & Restaurants, Hospitals & Clinics, Education, Automobiles, Tours & Travels etc.
Negative are Gym owners, Health Club, Beauty Parlour, Security firms, Stock Brokers, Collection Agencies, Cable Operators, Politicians, Gambling business.
Eligibility Criteria for a Business Loan from Clix
Contact ability & verification issues are also sorted if there is a self owned property.
Business Loan Features
- Loan amounts are provided as per Eligibility of the Applicant from a minimum amount of ₹ 10 Lakhs up to a maximum of ₹ 50 lakhs.
- Tenure for the payback of the Loan amount is from 12 months up to 36 months: For self employed professionals it can extend up to 48 months.
- Processing time for the loan is 72 hours after the submission of complete documentation.
- Rate of interest offered is lowest as per industry norms 18% &2% processing fees charged @ monthly reducing balance.
Foreclosure of loan is allowed after payment of 12 EMI’S or before such period foreclosure charges would be applicable.
Special Criteria Of Business Loans From Clix Capital
dscr based funding or debt service coverage ratio
Normal Income Program
under this program customers eligible loan amount will be based on the financials of the customer i.e his earnings before interest tax and depriciation or ebitda. also following heads are to be considered in order to reach customers annual revenue. we will then deduct his taxes to reach his profit. we would require dscr>1 to get a go ahead for funding.
- Profit Before Tax
- Depreciation
- Interest Expense Including Od/Cc
- Non Cash Amortization Expenses
- Salary To Partners/Directors On Loan
- Interest To Partners/Directors On Loan
obligations/loan emi
industry margin
under this program, eligibility criteria would be based on simply multiplying customers turnover/sales by the provided industry margin % for that indusrty/trade/service etc. we would require dscr > 1.10
- Particulars
- Turnover
- Industry Margin
Documents Required
Business Loans are processed as per the Profile of the Applicant /nature of Business Entity
Proprietorship
Partnership
Private Limited/Limited Company.
Application form signed with passport size photograph of all applicants.
Photo I.D. of All Individual Applicants
Copy of any one of following documents is Eligible as a Photo I.
- Pan Card
- Aadhaar Card
Passport
Driving Licence
For Non Individual business entities valid ID proof documents
- Pan Card
Sales tax Certificate
Vat registration certificate
As an Address Proof for Individuals
Aadhaar Card
Passport
Driving Licence
- Mobile or Land line bill
Income Documents
Income Tax Return for the last 2 years with audited Financials.
Income Tax Return with computation of Income for the last 1 year for all Partners/Directors coming on the Loan
Bank Statements
6 Months Bank Statements for all Business operating accounts.
6 Months Savings account Statements of Proprietors.
Statements of all loans taken to date
Business Continuity Proof for 3 Years Vintage
SENP
Partnership deed/MOA & AOA with certificate of incorporation
Shop & Establishment Certificate
Service Tax/Sales Tax/ Vat registration
- Audit report with nature of business & I.T return
- Previous 6 months Bank Statement
SEP
3 years old Business, Professional or Practising documents
Registration Certificate
Audit report with nature of Business
As Ownership Proof
Utility Bills
Property Tax Receipts
Copy of Title Deed