Clix Capital partners with Bank of Baroda to provide healthcare equipment loans
MUMBAI, 01 AUGUST 2022 (GPN): Clix Capital (Clix), a leading non-banking financial services entity with a strong pan-Indian presence, has entered into an exclusive co-lending partnership, dedicated to healthcare finance, with Bank of Baroda (Bank), the one of the main Indian public players. sector banks. Under this partnership, Clix and Bank of Baroda will provide loans at affordable rates for healthcare equipment in Tier 2 cities and beyond.
It is also the industry’s first truly digital co-lending partnership, with a fully automated end-to-end digital journey. This collaboration will enable the development of healthcare and diagnostic infrastructure across India, by financing the purchase of medical equipment for doctors, clinics, hospitals and diagnostic centers.
Speaking on the partnership with Bank of Baroda, Rakesh Kaul, CEO, Clix Capital said: “This association will open the industry to a whole new range of co-lending partnerships between banks and NBFCs. While MSME financing is a core area for Clix Capital as a lender, we are delighted to take it to another level with Bank of Baroda. We believe that this alliance will not only help us digitally serve MSMEs across India, but also contribute to nation building by supporting health infrastructure development. With Bank of Baroda’s extensive network and deep knowledge of the Indian market, as well as Clix’s deep understanding of the healthcare ecosystem and strong underwriting capabilities, together we can spearhead financial inclusion of MSMEs in the health sector across India.
“Clix Capital is one of the first financiers of medical equipment, thanks to its genesis of GE Capital, and is today one of the main non-banking players in this field. Since our inception, we have been delivering innovative products to meet the dynamic and evolving needs of healthcare institutions across India,” he added.
Dhrubashish Bhattacharya, Manager – MSME Business, Bank of Baroda said, “The healthcare sector is undoubtedly a priority for India over the next few years. India needs substantial investments to improve the quality of health services and build capacity. And this is especially true for small towns across the country. This partnership with Clix Capital will provide Bank of Baroda with critical access to key healthcare ecosystem players operating in the heartland of India and allow us to expand credit and a range of financing options as they strive to grow to meet the health needs of the country.”
Rebranded from GE Capital India in 2016, Clix Capital has primarily focused on micro and small healthcare professionals, as well as various medical institutions. Clix Capital has successfully financed more than 5000 medical professionals and institutions over the past five years, including approximately 1500 entrepreneurs in the establishment of various healthcare-related units.-Fin.