Indian micro, small, and medium enterprises (MSME) entrepreneurs frequently encounter difficulties when approaching traditional banks for financing. Despite their potential for growth and contribution to the economy, they often face significant challenges in accessing the necessary funds. This is where the role of a supportive financing partner becomes crucial. Traditional banks may have stringent lending criteria, complex application processes, and collateral requirements that can pose barriers for MSME entrepreneurs. Additionally, many MSMEs may not have an extensive credit history or the necessary assets to meet the stringent requirements set by traditional banks. As a result, they often get turned away, making it difficult for them to secure the funding needed to grow and expand their businesses.
To address these challenges, MSME entrepreneurs require a financing partner who understands their unique needs and provides accessible and flexible funding solutions. This is where organizations like Kinara Capital come into play. Kinara Capital specializes in providing customized financing options specifically designed for MSME entrepreneurs in India.
Anduru Giri started his entrepreneurial journey in 2017 when he co-founded Icon CNC Technologies with his friend and business partner. Starting with just one machine, their business gradually grew, achieving an annual turnover of Rs. 20 lakhs.
The two entrepreneurs had ambitious plans to expand their business further by adding another machine. However, when they approached banks to seek financing, they were repeatedly turned away. This put a damper on their growth plans and they desperately started seeking alternatives. As with many MSME entrepreneurs, lack of access to capital threatened to be the hurdle that brought their progress to a grinding halt.
Eventually, a friend of his recommended Kinara Capital, and Anduru wasted no time in approaching Kinara with the necessary documents. To his delight, he received approval, and the loan was disbursed within a matter of days. The funds were directly transferred to the seller, enabling the business to acquire a second machine. Since then, their business has experienced steady growth, and the support from Kinara has contributed to additional profitability of Rs. 15 lakhs. Now the business brings in an impressive turnover of around Rs. 35 lakhs each year and is showing no signs of slowing down.
He shares, “Kinara’s support was a game changer for our business. I plan to pay off my current loan and seek another machinery loan to keep growing my business. I’m very grateful for the support provided by Kinara in making my business a success!”
Kinara Capital recognizes the importance of MSMEs in driving economic growth and creating employment opportunities. They understand the specific challenges faced by these entrepreneurs and have developed a deep understanding of their unique needs. Unlike traditional banks, Kinara Capital has designed their financing solutions to be more accessible, flexible, and inclusive. Kinara takes a holistic approach to financing MSME entrepreneurs. The company considers various factors beyond just collateral and credit history, such as cash flows, business potential, and future projections. By doing so, they can evaluate the true growth potential of an MSME and provide funding to entrepreneurs like Anduru based on their actual performance and future prospects.
By catering to the unique requirements of Indian MSME entrepreneurs, Kinara demonstrates an understanding of the challenges they face and showcases an inclusive and supportive approach. The company offers simplified application processes, quicker turnaround times, and personalized support. They have developed a deep understanding of the Indian MSME ecosystem, allowing them to provide relevant financial products and services that align with the needs of these entrepreneurs. By providing accessible and flexible funding solutions, Kinara empowers MSME entrepreneurs to realize their growth potential, invest in their businesses, and contribute to the overall development of the economy.
Anduru is one of the thousands of entrepreneurs who have benefited from Kinara’s loans. If you are a small business entrepreneur, it’s time to get your growth journey started with Kinara Capital. To get a business loan for your small business, check your loan eligibility in 1 minute in the myKinara App by downloading it from the Google Play Store, with 7 language options available, choose your preferred vernacular. Also, we have a dedicated customer support team available between Monday – Friday (9.30 AM – 6.00 PM) at our toll free number 1800-103-2683 for any questions or assistance. This ensures that entrepreneurs can get the help they need throughout the loan process.
