Customer Success Story: DSL Engineering

May 23, 2024
Updated on

Entrepreneurship is a career choice that can be both exciting and challenging. Many people choose to become entrepreneurs because they are driven by a desire to create something new and make a difference in the world. They may have a passion for a particular product or service or want to solve a problem they see in their community. Entrepreneurship also offers the opportunity to be your own boss, set your own hours, and potentially earn more money than in a traditional job.

However, starting a business also comes with a number of challenges. One of the most significant is securing funding. Without access to capital, entrepreneurs may struggle to get their businesses off the ground, or may not be able to sustain them in the long term. The availability of funding can be influenced by a variety of factors, including the state of the economy, the industry in which the entrepreneur is operating, and the entrepreneur’s personal credit history and financial standing. Securing funding can be particularly difficult for small business entrepreneurs as traditional lenders like banks often avoid lending to them, because they are considered high-risk. The majority of them also lack access to assets that can be leveraged as collateral.

Kinara Capital has been working to resolve this issue for thousands of micro-small-and-medium enterprise (MSME) entrepreneurs in India for over a decade. The company provides collateral-free business loans to MSMEs, in order to help them improve operations and scale their businesses.

Introduction: DSL Engineering

Lakshmana is a qualified MBA who worked as a manager for several years before deciding to start his own business. In 2014, Lakshmana established his own welding company, DSL Industries, in Hyderabad, Telangana. His ultimate goal was to create work and assist people in earning a decent livelihood. He paid for machinery and raw materials out of his own pocket and got the company up and running, but he quickly ran out of funds. 

Lakshmana searched for finance, but because his company was still relatively new, no lender was ready to aid him. Things deteriorated when Lakshmana began missing business orders because he lacked the finances to purchase the raw materials to complete them.

Grow your MSME with collateral-free business loans

Finding a lifeline

He learned about Kinara Capital in 2017 and quickly applied for collateral-free business financing. To Laksmana’s amazement, he was immediately granted a loan of Rs. 7 lakhs. He put the money into his business, and after paying off the loan a year later, he reached out to  Kinara for another loan, and then numerous more. His business has thrived as a result of the loans.

He explains, “With the funding in place, I concentrated all of my efforts on business growth. I was able to add many more workers and increase my business. My turnover was roughly Rs. 8 lakhs before the loans, and it has now increased to Rs. 50 lakhs! I intend to quadruple it to Rs. 1 crore in the future with Kinara’s continued support. I’m happy that my staff is able to earn a good income and enhance their standard of living, which was my intention. Kinara is the ideal option for new business owners seeking finance. I’m quite pleased with their services!

Larger impact of Kinara’s support

Kinara’s support was instrumental in enabling Lakshmana to scale up his business and create employment opportunities for others in his community. By providing him with access to funding and business development services, Kinara helped Lakshmana to expand his operations and increase his production capacity. This, in turn, allowed him to hire more workers and contribute to the local economy. Small business entrepreneurs like Lakshmana play a vital role in creating jobs, driving innovation, and promoting economic growth in their communities. By supporting them with the resources they need to succeed, Kinara is building a more inclusive and prosperous society. 

Lakshmana 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.

Check your Eligibility in 1-minute!

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