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Business Expansion Loan

What Documents Do I Need To Provide

Completed Application Form

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) coming applying for the loan
  • GSTIN
  • 6-month bank statement
  • 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
  • Proof of continuity of business of 3 years (ITR/trade license/establishment/sales tax certificate)

Proof Of Ownership

  • In The Name Of The Applicant Or The Applicant’s Spouse/Parent

*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 Business Loan

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FAQs

How do I avail a Business Loan from Clix Capital?

The Application procedure for availing Business Loans at Clix Capital is easy and convenient. Simply visit our Business Loan page and fill out the application form. Our experts will contact you and help you take the process forward.

Is there any restriction on the end use of my loan?

We are all about catering to your business needs! You can use the Business Loan to expand your capital, purchase equipment or machinery, simply finance your working capital needs, any for many other reasons.

What will be the tenure for my Business Loan?

You can choose customised repayment (EMI) options from 12 to 48 months at Clix Capital. Use a Business Loan EMI calculator to estimate your EMIs for different loan terms.

What factors determine my Business Loan interest rate?

Unsecured Business Loan interest rates depend on various factors of your application, including metrics like business health and income. We will tell you the final applicable interest rate once we review your application form and all supporting documents.

Do I need to make a down payment to avail of a Business Loan?

No. We offer unsecured Business Loans that do not require collateral, guarantor, security, or down payment. Evaluate your loan requirement and get approval based on your business vintage, turnover, credit rating, and other factors.

How does repayment term affect Business Loan EMIs?

The loan tenure you select can significantly affect the loan EMIs. A longer-term reduces the EMI amount, while a shorter tenure makes it heftier.

Do I need any collateral to avail of an unsecured Business Loan?

Not at all! No additional collateral or guarantors are required to approve your SME loan application.

How can I reach out to Clix for any other information on my Business Loan?

Clix Capital has a robust customer service centre that you can reach by calling the toll-free number +91 120-6465400. Customers may call on any working day from Monday to Saturday between 9:30 am-6:30 pm. You may also contact us by email at hello@clix.capital for any queries or doubts regarding Business Loans.

Are unsecured Business Loans from Clix Capital available for start-ups as well?

Unfortunately, no. We require a business vintage of at least three years at the time of loan application. Start-ups are not eligible for our unsecured Business Loans.

Who can apply for an unsecured Business Loan from Clix Capital?

Only business owners can apply for our unsecured Business Loans. The company should be in your name, spouse, or parents. You have to submit your proof of ownership. We provide loans to a proprietorship, private limited company, closely held non-listed company, or a partnership firm involved in manufacturing, trading, or services.

How much credit score should I have to apply for an unsecured Business Loan?

Your business must have a CMR score of up to 7, and your CIBIL score needs to be 700 or above to avail unsecured Business Loans. Those with less than the required scores have fewer chances of getting their loan application approved.

What is the schedule of charges at Clix Capital?

These are the applicable schedule of charges:

  • Borrowers prepaying the Business Loan must pay a prepayment fee of up to 6% of the loan amount for prepayment before 12 months, 5% between 12 to 24 months, and 4% after 24 months.
  • Loan application and processing fees of up to 3% of the loan amount are applicable.
  • Other customer service charges, including bounce charges, repayment instrument change or swap charges, duplicate Income Tax certificate issuance, NOC, Statements of accounts, Document Retrieval statements, and Foreclosure statements. These range from Rs. 500-1000.

What loan tenure options are available for an unsecured Business Loan?

Unsecured Business Loans at Clix Capital have Loan tenure options ranging from 12 to 48 months.

What are the unsecured Business Loan interest rates?

Unsecured Business Loan interest rates depend on several factors, including the applicant’s business vintage, annual turnover, business nature, financial obligations, repayment capacity, and credit rating.

How to calculate unsecured Business Loan EMI?

Business Loan EMIs largely depend on the loan term, interest rate, and loan amount you choose. Use a Business Loan EMI calculator to estimate EMIs for different loan tenures before loan application and select the term with an easily affordable EMI amount.

How much money can I borrow in an Unsecured Business Loan?

The Business Loan amount depends on several factors, including the applicant’s business age, repayment history, credit rating, financial obligations, and annual turnover. The lower the risk, the bigger the loan sanction. Depending on the above factors, you can get a Business Loan from 5 to 50 Lakh at Clix Capital.

What is the minimum and maximum repayment period of an unsecured Business Loan?

Clix Capital’s repayment period ranges from 12 to 48 months for small and medium-sized business owners.

Am I eligible for a Small Business Loan?

Clix Capital considers several crucial factors to determine an applicant’s Small Business Loan eligibility. These include the applicant’s age, business nature, annual turnover, business vintage, and financial documents. You can provide the necessary documents to proceed with the application when eligible.

What is the current interest rate of a Small Business Loan?

We offer competitive interest rates on unsecured Business Loans. Depending on the applicant’s credit rating, business nature, age, and financial performance, interest rates may vary according to eligibility and credibility.

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