BoB partners with Clix to provide loans at affordable rates
Clix Capital (Clix), a leading non-banking financial services entity with a strong pan-India presence, has entered into an exclusive co-lending partnership, dedicated to healthcare finance, with Bank of Baroda, one of the major players in Indian public 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.
Rakesh Kaul, CEO of Clix Capital, said: “This association will open up 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 in-depth knowledge of the Indian market and Clix’s deep understanding of the healthcare ecosystem and its strong underwriting capabilities, together we can spearhead inclusion financing for 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 facilities across India,” he added.
Dhrubashish Bhattacharya, Head – MSME Business, Bank of Baroda said, “The health 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.”