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NBFC

Essel Finance Business Loans Limited, a registered Non Banking Finance Company (NBFC) with Reserve Bank of India (RBI) is the lending arm of Essel Finance, providing innovative financial services to micro, small, and medium enterprises.

The micro, small and medium enterprise (MSME) sector has often been termed the ‘engine of growth’ for developing economies.

Even though the success of small and medium enterprises in India constitutes one of the key drivers of GDP growth and employment, the access to finance in this segment has often been limited.

Essel Finance Business Loans is founded to cater to this underserved segment. With its highly specialized financial solutions that focus on green field micro entrepreneurs and small and mid segment growth oriented enterprises, Essel Finance inspires SMEs to dream big and grow.

Whether you need to fund a commercial property purchase or invest in plant and machinery, avail working capital facilities or corporate backed supply chain solutions, or are looking to discount receivables or lease rentals, Essel Finance will help you catalyze each one of your business aspirations aligned to your particular needs.

Understanding credentials that extend beyond financial statements and taking a comprehensive approach to evaluating business, we at Essel Finance help enterprises reach their true potential.

Board of Directors
Subodh Kumar Chairman

A 1977 batch IAS officer, Mr. Kumar has had held many noticeable and high impact positions within the Government of India during his long illustrious career. He has served as the Finance Secretary and Sales Tax Commissioner for the State of Maharashtra. He was also a Joint Development Commissioner in the Ministry of small-scale industry and a Textile Commissioner in the Ministry of Textile with the Government of India.

As ex Municipal Commissioner of Mumbai Municipal Corporation, Mr. Kumar is most notably credited with initiating critical modifications to the development control regulations, thereby, drastically reducing the manipulation in building industry, providing level playing field to all developers and protecting flat buyers in Mumbai.

With over 25 years of rich experience in the areas of Banking, Asset Management, Investment Banking, and Insurance, Mr. Chaturvedi has led several foremost financial companies of India such as Reliance Capital Ltd, ICICI Bank Ltd., Lloyds Finance Ltd., and Dhanlaxmi Bank Ltd in various capacities.

As the Managing Director and CEO, he was instrumental in transforming Dhanlaxmi Bank in a short span of 3 years from a regionally focused bank with a business size of approximately Rs.5800 crores to a pan-India bank with a business of approximately Rs.23,000 crores. Likewise, under his headship, Reliance Capital evolved into a diversified financial services conglomerate and assets under management at Reliance Mutual Fund grew from near Rs.1500 crores to over Rs.90,000 crores.

Amitabh Chaturvedi
Managing Director
Himanshu Mody
Director

Mr. Mody currently heads finance & strategy for the Essel Group. Prior to this, he was the business head for the Essel Group’s sports business. He is also credited with the launch of the ‘Fun Republic’, chain of multiplexes in India as a senior member in its finance team & the Indian Cricket League (ICL) for the Essel Group. Having worked in various corporate strategy, fund raising & M&A initiatives in his vast 15 years of experience, he brings with him a unique combination of strategic, financial and transactional advisory expertise into the group.

Mr. Parekh is a qualified Chartered Accountant and Company Secretary. He has over 35 years of experience in the field of Finance, Taxation, Secretarial, Corporate Governance and insurance matters.

Currently he is advising various corporate on Secretarial and Securities Laws, Financial restructuring, fund raising, cost control measures, taxation related issues, insurance matters etc. Prior to consulting.

He was associated with large corporate houses including Aditya Birla Chemicals(India) Ltd, Jaiprakash Associates Ltd, Jokai India Ltd, Assambrook Ltd and U.S. Lines( A US based shipping Company).

Mahendra Parekh Independent Director
Dr.Sangeeta Pandit
Independent Director

Ms. Sangeeta is a Chartered Accountant associated with P.D. Kunte & Co. Chartered Accountants, from 1984. Areas of expertise include audit and representative practice, consultancy on accountancy, taxation, finance and strategy. She would represent clients at the income tax office and as counsel before the Commissioner of Income Tax and Income Tax Tribunal. She is now in academics, head of finance at Sydenham Management Institute. She was also part of Start-up team of Management Institutes-United World School of Business, Malad and MBA program of Bombay Stock Exchange Training Institute.

She is an accredited cancer patient counselor and obtained her PhD in issues relating to healthcare. She works closely with various bodies for financial inclusion. She is actively associated with Bombay Chartered Accountants Society, BSE Brokers Forum and CII IWN.”

Team
Sandeep Wirkhare
Chief Executive Officer

Mr. Sandeep Wirkhare is leading a mandate to build a new financing institution focused on specialised financial solutions for growth-oriented small medium enterprises (SMEs) and green field micro entrepreneurs.

Mr. Wirkhare has over 20 years of experience in full spectrum of lending right from business development to risk-management in products such as small & medium enterprises (SMEs), commercial real estate, retail assets and microfinance. Apart from standard product lines, he has also managed structured products such as securitization of portfolios for effective liquidity management.

He has spearheaded several start ups and rapid growth situations in organisations such as ICICI Bank, Reliance Capital, Dhanlaxmi Bank where he aligned business objectives and managed risks in multiple product lines at national levels.

Mr.Wirkhare is a Science Graduate & an MBA (Finance) from University of Poona.

Mr. Gopi kumar is highly experience banking professional with over 30 years experience including last 20 years specialization in Financial Institutions, Trade Finance, Foreign Currency Borrowing/Lending, etc. He has global exposure wherein he has handled Overseas assignment as Head – Financial Institution and Trade Finance of ICICI Bank, Bahrain office which is major Trade and FI hub for ICICI Bank’s international business.

In his last assignment he was associated with Mashreq Bank as Head of Marketing - India (FIG & Trade Finance Business). He has been associated with companies like Dhanlaxmi Bank, ICICI Bank & India Overseas Bank.

Mr. Gopikumar is an associate of Indian Institute of Bankers & a CDCS professional, a certification jointly awarded by The Chartered Institute of Bankers, London & International Financial Services Association, he is a graduate from Calicut University.

Gopikumar V
Chief Financial Officer
Pabitra Mitra
Business Head

Pabitra has more than 18 years of experience in business development of Retail Assets ,DSA and DST channels.His core expertise is in SME/MSME & LAP market & Third party Distribution of financial products.

In his last assignment Pabitra was associated with HDB Financial Services,Mumbai as Regional Manager - West. In the past he has been associated with companies like DCB Bank Centurion Bank of Punjab and ICICI Bank.

Pabitra is post Graduate with specialization in Sales and Marketing

Product Offerings
  • SME Mortgage Finance
    • An ‘appropriate infrastructure’ is your growing enterprise’s primary and most essential element to scale up your business to be competitive and showcase your capability to the vendors and suppliers.
      We take a balanced approach to lending so that you are able to leverage your past financial records and business potential to grow your enterprise further. Our mortgage loan products allow you to purchase commercial, select industrial property or use equity in the property to ignite your spark of business expansion.
      • Features
      • Term Loans up to 10 years
        Loans from INR 10 lac to 150 lac
      • Purpose
      • Loan for purchase of Commercial / Industrial premises
        Loan for construction of Commercial premises
        Loan against Residential / Commercial / Industrial premises
      • Security
      • Primary security by mortgage of Residential, Commercial or Industrial property *
      • Fees & Charges
      • Refer schedule of charges
      • Industry Focus
      • Open to all Industries and Clusters
      • * Subject to terms and conditions
  • SME Business Expansion Loans
    • Seizing opportunity at the right time is the essence of any business. Expansion, modernization, diversification, great order, opportune raw material price, critical expenditure etc. can come to you planned or unplanned, for your long term growth that you don’t want to miss.
      Our Business Expansion Loans are formulated to help you unlock such opportunities through host of right in time solutions providing short, medium & long term financing solutions either in form of term loans or working capital demand loans to help grow your business.
      • Features
      • Term Loans up to 7 years
        Loans from INR 10 lac to 150 lac
      • Purpose
      • Loan for purchase of Non Standard Equipments and Machinery
        Loan for growing Working Capital needs
        For critical growth oriented expenditure
      • Security
      • Primary security by mortgage of Residential, Commercial or Industrial property *
        Appropriate collateral required
      • Fees & Charges
      • Refer schedule of charges
      • Industry Focus
      • Open to all Industries and Clusters
      • * Subject to terms and conditions
  • SME Equipment Finance Loans
    • Equipment loans are designed for special industries and segment that offer revenue generating opportunity through the acquired asset to start as a professional or expand based on skills and expertise you have gained, to scale up your operations further.
      Our equipment financing helps you to acquire new or used equipment* in healthcare, construction, printing, packaging, plastics, manufacturing/processing tools and other approved industry segments. We take a realistic approach along with your business credentials beyond financial parameters to determine the extent of funding. Because life’s too short to think small. Make it big!!! / Aspire big, achieve bigger with us!
      Because life’s too short to think small. Make it big!!!
      • Features
      • Term Loans from 1 - 5 years
        Loan amount ranging from INR 10 lac to 150 lac
      • Purpose
      • Finance for Purchase of Approved Equipment – Both New & Used
      • Security
      • Hypothecation of Equipment
        No Collateral
      • Fees & Charges
      • Refer schedule of charges
      • Industry Focus
      • Healthcare & Pharmaceuticals
        Construction & Facility Management
        Manufacturing / processing machine Tools
        Printing & Packaging
        Plastic Industry
        Textile
        Wood Working
  • SME Receivable Finance
    • Assured cash flow or receivables from the contracts you have signed with either customers or vendors or you have a very strong model to back repayments of the loan, our offerings will help grow your business and grab that opportunity to scale the business.
      We have designed a few niche products for selected industries after in-depth research and understanding of the segment. Currently, we have selected residential construction and education as our focus areas and weaved our product specifically catering to these segments. Small Business, Big Dreams!!! / Chase your big dreams with us.
      Small Business, Big Dreams!!!
      • Features
      • Term Loans up to 3 years
        Loan amount ranging from INR 50 lac to 500 lac
      • Purpose
      • Business Expansion
        Expenditure for Construction
      • Security
      • Hypothecation of Receivables
        Mortgage of property
      • Fees & Charges
      • Refer schedule of charges
      • Industry Focus
      • Residential Construction – Last mile developer funding
        Educational Institutions
      • * Subject to terms and conditions
Schedule of Charges
Description of Charges Charges
Processing Fee Upto 1.5% of Loan amount
Non Refundable processing fees (included in processing fees) Rs.5000 /- + Service Tax
Interest Rate 17% to 20% depending on product and scheme under the which loan is booked
Cheque bounce charges Rs.500/- + Service Tax
Late Payment Penal charges 3% pm on unpaid amount
Swap charges for substitution of bank for change in Repayment mode Rs. 500 + Service Tax
Prepayment charges Part prepayment upto 25% once in each Financial year is allowed and thereafter Foreclosure charges as defined by EFBLL will be applicable.
Part/Pre-payment charges will not be payable where Borrower is an Individual and Rate of Interest is Floating.
Loan cancellation and rebooking charges Rs. 2500 + Service Tax.
Loan reschedule charges in terms of EMI/Tenure/ROI 3% on POS (Principle outstanding)
Duplicate NOC Issuance charges Rs 500 + Service Tax
Legal / Collection / Repossession and Other Incidental charges Actuals
Insurance Premium Actuals( Inclusive of Service Tax )
Advance EMI Actuals
Service Tax, as notified by the Government of India, is applicable on all fees, interest and other charges and is subject to change as per relevant regulations of the Government of India
Terms and conditions apply.
All loans are disbursed at the sole discretion of Essel Finance Business Loans Limited. All information herein is subject to change without notice. Under no circumstances cash, bearer or blank cheque or kind should be given to any executive in connection with the Loan application. Kindly note that all cheques should be crossed and issued in favour of “Essel Finance Business Loans Limited”.
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Compliance
Policy version: NBFC/FPC/Sept-2015
Policy version : NBFC / GRP/ Sept – 2015
Policy version : NBFC / IRGRP / Sept – 2015