Intec Capital woos print firms with finance schemes
For many print companies, purchasing print equipment at affordable installments and with minimum fuss, is often wishful thinking. Now with New Delhi-based finance company, Intec Capital’s special schemes, print companies can own machinery displayed at the exhibition by just paying 20% of the total value of the machinery and pay the balance in easy installments.
26 Feb 2013 | 2556 Views | By PrintWeek India
Further, the company has entered into an MoU with Monotech, where the prospective buyers of machinery at the Monotech stall can pay only 15% of the total value of the machinery as down payment. Intec is in talk with Xerox, Canon and Autoprint for a similar MoU.
“This unique offer is a viable option for the customers, whatever their budget,,” said Virender Kataria, vice president at Intec. “All they have to do is pay a little upfront on the kit they wish to buy.” The company has made arrangement for spot approval at the stand of these companies, which according to Kataria, helps "build the confidence of the vendor and customer".
Armed with better terms and conditions, print companies attain a position of strength from where they can demand better services, and the manufacturer on the other hand, knowing that the payment is assured, can strike a quick deal. “It’s a win-win situation for both,” said Kataria.
Intec has been in the business of financing for the past 18 years, but has entered into the print segment only two years ago. The financing company operates in five verticals, which include auto, print and packaging, plastic and injection moulding, pharmaceutical and medical, and food processing. “The auto industry is a cyclical industry, where sales drops, which is not the case with printing and packaging. It influences the day-to-day workings in almost every sector of the economy,” said Jagjit Singh, business head at Intec.
Though Intec does scrutinise the growth of its customers over the years, they also examine the business model including the debtors list, type of work done and who are the clients and what they propose to buy, before the finance is approved. For equipment in the digital print segment, there is a little caution that the company exercises, hence the repayment period is three years. In case of other machinery, this period is five years. “In spite of this, the fact remains that the scheme is tempting enough for the print companies to invest in new machinery,” said Singh.