Clix Capital aims to disburse INR 1000 crore in unsecured MSME loans by the end of FY2023
Mumbai, India: Clix Capital Services Pvt Ltd one of India’s leading digital-lending NBFCs – today announced that it aims to disburse INR 1000 crore in unsecured MSME loans to the underserved micro enterprises across India in line with the Company’s vision to simplify lending and enable financial inclusion. The offering is readily available to MSMEs in Delhi, Jaipur, Chandigarh, Mumbai, Pune, Ahmedabad, Bangalore, Hyderabad, and Chennai. Having recently relaunched its operations in Jaipur and Ahmedabad, the lender plans on scaling up its operations to five additional cities by the end of this financial year.
“Working capital financing remains a major challenge for MSMEs across India, especially after the pandemic broke out. While digitalization and pandemic-linked tailwinds have helped digitize the supply and demand side of digital lending significantly, smaller businesses in India still lack a formal digital footprint. At Clix Capital, this is precisely the gap we have been working tirelessly to bridge. Whatever be the business requirements of our consumers, whether, for business expansion or working capital, we have this covered. Our customers range from manufacturers, retailers, wholesalers, and even service providers since we service the entire spectrum of MSMEs. We have been focusing all efforts on aiding MSMEsin India to emerge strongly from this pandemic,” said Rakesh Kaul, CEO of Clix Capital.
The digital lender recently announced it had crossed the INR15,000 crore disbursement milestone after its rechristening from GE Capital five years ago. The lender also revealed it aims to disburse more than INR4000 crore this fiscal.
Clix Capital’s business loan offers an unsecured credit program to help small and medium-sized enterprises with loan amounts ranging from ₹5 lakhs to ₹50 lakhs to meet growing business needs. Clix offers two types of unsecured business loans: Business Term Loans and Working Capital Loans. The Business Term Loans are suitable for big-ticket expenses such as expansion, tools or machinery purchase, etc. Working Capital Loans, on the other hand, are suitable to address the daily expenditures of the business for smooth operations. Some features of the offerings include large loan amounts, collateral-free offerings, flexible loan repayment options (12-36 months), and minimal documentation combined with quick approvals.
