1 : What is a Clear Invoice Financing Portal?

Answer : Invoice Financing portal allows to you get financing without any collateral. The process is completely online and funds are credited into your account within 24 hours.

2 : How is my eligibility computed

Answer : Eligibility is computed based on your credit score (CIBIL >720), analysis of your bank statements and GST history (at least 3 year old registration)

3 : What are the quantum of funding I will receive from the platform

Answer : The limit is granted based on the assessment of your business and can be upto 15 lakhs.

4 : What documents are needed for getting this loan

Answer : No physical document submissions are required for this loan, except your bank statement. For a smooth process, you need to have PAN, Aadhar and GST registration certificate handy which will help in completing your KYC process quickly.

5 : How will the loan amount be re-collected

Answer : At the time of loan application, financier will take authorization of collection mandate through which collection will be made directly from your bank account on due date. You always have an option to pre-pay the credit before due date without any penalties and charges

6 : Do I need to involve my buyer for this loan

Answer : No involvement of the buyer is needed. It is a seller centric program.

7 : What options do I have if I onboard on Clear platform

Answer : If the limit is sanctioned to you and you have accepted the sanction, the limit remains available for next 12 months and you can use it as and when you have eligible invoices and there is credit needed. You will be charged only when you avail credit and there is no mandate to use the entire/part of limit at any point in time

8 : What will happen if my buyer has delayed my payments, how will this impact my repayment

Answer : This is a borrower (seller) centric program and your buyer is not involved in the process. You need to repay the loan as per due date and process is not linked to you being paid by your buyer on time. However it is advised that incase of any short term delay in payments from your buyer, prioritize available funds to repay the loan first so that your limits remain active for future use

9 : How is the data provided by me used

Answer : The data provided by you is fully secure and safe. The data is only used for assessing your application for credit. It would not be used for any other purpose. We follow world class standards of data privacy and security

10 : How will you get invoices, do I need to upload anything

Answer : You don not need to upload anything. We source invoices directly from your GST filling history. To ensure that we are able to get all the relevant invoices, ensure that your GST fillings reflect all the sale made in the month.

11 : Clear is lending on its own or in partnership with financiers

Answer : Clear’s invoice financing program is in association with leading NBFCs in the country. All the financing partners are leading RBI licensed NBFC and product is fully safe and secure

12 : What happens in case of credit default

Answer : Incase of credit default your limits will be frozen and you would not be able to avail any further credit. Your credit score will be severely impacted and your capability to get credit in future will suffer.

13 : Is the program approved by RBI

Answer : Credit extended through the program is done by licensed NBFCs which are in full compliance with all RBI guidelines

14 : What/Who is Clear

Answer : Clear is a leading Indian fintech company with a history of over 10 years. It is a market leader in the compliance space assisting companies in tax filings. Company has been trusted by over 4,000 Corporates, 5 Lac+ individuals and small businesses.

15 : Why Should I not directly contact the NBFC to get the loan

Answer : The current digital product program is only available in association with Clear. If you directly go with any NBFC you would have to provide a lot of physical documents, have to provide invoices and income statements etc. which will take a lot of time in processing and after that too the limit sanctioning might require collateral or will be lesser than what you want. With Clear platform, you would get best offers and delivered in a fully digital manner.