Loan Against Electronic Payments (LAEP)/Loan Against POS
Running a business that accepts electronic payments (mostly via swipe machines) has become imperative in modern times. If you feel that this might affect your finances, then guess what – Clix Capital has got the perfect solution for you in the form of loan against electronic payments or loans against POS (Point of Sale) machines payments.
Now, with this service, you can avail loans instantly against the card swipe machine payments at your store. This will help you attain the funds you require and grow your business with every swipe! We provide numerous benefits to ensure that your business isn’t impeded while growing.
Now say no to bulky EMIs, because you can pay your EMI every day, with your daily sales recorded via your swipe machine.
We Have A Bevy Of LAEP Offerings!
While we offer loan against electronic payments for all SMEs, we are giving special offers for the following:
Bars & Restaurants
Stay focused on providing your customers with excellent services – managing finances for your business will be our responsibility!
Salons
Looks and styles are in fashion – worrying about your finances isn’t.
Petrol Pumps
With commuters wanting quick refueling, electronic card payments have become the norm – and so have LAEPs!
Pharmacies
Electronic payments are the last thing one should think about while providing medical services.
Here’s What Clix Has To Offer with Merchant Cash Advance Loans!
Collateral-Free Loan/ /Risk-Free loan
- Risk is the last thing you need to worry about while attaining a loan against electronic payments. There is no collateral required with our LEAP loan.
Loan Against POS Payments
- You can pay your EMIs daily, with every swipe. Hence, you don’t have to worry for the month end to pay your installments.
Customized Repayment
- With a repayment period ranging from 6 to 18 months, you can easily focus on financing your business’ LAEP.
Flexible Merchant Lending
- Your business will face no issues when it comes to expansion with Clix Capital’s merchant loan amounts that ranges from Rs 2 to 50 lakhs.
No Bulky EMIs
- Clix Capital takes up the responsibility of contacting your POS payments for a flexible repayment plan – whether it be for a product on ‘Daily EMIs’ or a flexi-repayment plan or anything else along the same lines.
What is a Loan Against Electronic Payment?
A loan against electronic payment is targeted towards business owners who need money to meet their short-term credit requirements. It is a financing option for small businesses, wherein a merchant borrows advance money based on their business’s debit card and credit card sales.
With the increasing number of paperless transactions being adopted by customers, an LAEP can be a great way to get funds to address temporary cash needs.
Looking for an easy loan without any hefty EMIs? Go for a loan against electronic payment from Clix Capital. Don’t worry about planning EMIs, your repayment will be linked with your daily sales collections through POS machines placed at your business facility.
Is my business eligible for a loan against electronic payment from Clix?
If your business:
-is an Indian business entity (Partnership/Proprietorship/Private Limited Company/Closely-Held Public Limited Company),
-has a minimum business vintage of 24 months,
-has been using a PoS machine for at least 12 months,
-has a minimum card sales volume of at least Rs 2 lakhs per month, and
-has proof of ownership in the name of the applicant & the applicant’s spouse/parents of either the residence or business premises,
Congratulations – you’re on your way to secure a loan against electronic payment
What documents do I need to submit with my loan against POS machine payments?
We’re almost paperless (yes, really) but will need a few documents to process your application:
Completed Application Form
- We will provide you with a run-of-the-mill application form to detail out all the information we need before processing your business loan request.
Passport-Size Photograph
- This photograph should be fairly recent and indicative of your current physical appearance.
Identity (ID) Proof
- This can be either your Aadhaar Card, PAN Card, or Government ID (if you happen to be a government employee).
Address Proof
- Your Aadhaar Card is the go-to document here. In case your current address is not updated in Aadhaar card, one certified copy of any Official Valid Document (OVD) is required. These OVDs are either your Passport, Voter ID, or Driving License. Your Utility Bills from the last 2 months may also apply here.
Financial Documents
- PAN Card – For Firm/Company/Individual(s) applying for the loan
- GSTIN
- 6-months bank statement
- Proof of continuity of business of 3 years (ITR/trade license/establishment/sales tax certificate)
- In case you are applying for loans above Rs. 20 lakhs, you will additionally have to provide a copy of the most recent Income Tax Return form along with computation of income, audited balance sheet and profit & loss account for the previous 2 years
*Please note that while only scans or photocopies of your documents are required while applying for a loan, you might want to carry original documents in case of verification. Approving the loan application is at the sole discretion of Clix; we might ask for further documents for a more thorough assessment of your loan.
How Do I Apply For a Loan against electronic payments?
- Fill out the form of loan application on card swipe payments. It takes only 3 minutes!
- Have a quick chat with our representative to learn about your loan against swipe machine
- Sit back and relax! You are on your way to secure a loan against electronic payments.
FAQs
How do I avail a LAEP / working capital loan from Clix?
There’s a space at the top and bottom of this page to put in your phone number. Just provide the same and our customer representative will speak with you shortly to get a working capital loan online!
What will be the tenure, down payment, EMI, and interest rate for my working capital loan?
At Clix Capital, you can choose from customized repayment (EMI) and down payment options. The best part about LAEP is that you can pay daily loan installments, instead of monthly installments. However, the interest rate of your loan depends on various factors, such as the specifics of your application (including metrics like business health and income). We’ll tell you the final applicable interest rate once we go through your application form and all supporting documents.
Do I need any collateral to avail this loan?
Not at all! There is no additional collateral or guarantors required to have your loan application approved.
How can I reach out to Clix for any other information on my loan against electronic payment?
Just call us on our toll-free number at +91-120-6465400 between 9:30am-6:30pm from Monday to Saturday (barring public holidays). Alternatively, you can also write to us at hello@clix.capital to resolve your queries around a LAEP / working capital loan.
Is LAEP a good option for my business?
Yes. LAEP can be a good option for you if you need money to meet any immediate financial requirements. It can save time during a brief financial crunch. Moreover, you may repay it every day with your cash flow (payments made by customers on your POS machine). No collateral is required, and the amount of cash outflow is not fixed like EMIs.
Is LAEP a type of loan?
Yes. LAEP, also known as Loan Against POS, is a short-term loan that businesses can use to meet their urgent cash needs against daily credit or debit card transactions. The repayment period ranges from 6 months to 18 months, and loan amount can be anywhere between ₹ 2-50 lakhs.
I’ve just opened a restaurant around 6 months ago. Can I apply for Clix Capital’s LAEP?
No. To apply for Clix Capital’s Loan against Electronic Payments, you must have a business vintage of minimum 2 years, and you must be using a POS machine for a minimum of 12 months.
What is the schedule of charges at Clix?
Answer: Read about our approach for determining interest rates, processing and other charges here.
Click here to keep your business growing
Apply for a simple, fast, and accessible loan against electronic payment from Clix!
