Customer Success Story: Kaleshwari Industries

May 23, 2024
Updated on

Micro Small and Medium Enterprises (MSME) entrepreneurs play a crucial role in the global economy, driving innovation, generating employment opportunities, and contributing to overall economic growth. When starting their businesses, many MSME entrepreneurs rely on their own funding, investing their personal savings or using their assets to finance the initial steps. This self-funding approach allows them to get their ventures off the ground and test the market viability of their businesses.

However, as MSME entrepreneurs aim for substantial growth and expansion, they often find themselves in need of additional financing support. To achieve significant growth, MSMEs need to scale up their operations, which requires additional resources such as hiring more employees, purchasing new equipment or technology, and expanding production capacity. All these endeavours demand capital infusion beyond what the entrepreneurs can provide from their personal funds. Many MSME entrepreneurs often face challenges related to working capital management. They may encounter delays in receiving payments from customers, while having to fulfil their own financial obligations such as paying suppliers, employees, and utility bills.

Access to financing can help bridge these cash flow gaps, ensuring smooth business operations and minimizing disruptions. By accessing financing support, MSME entrepreneurs can fuel their growth ambitions, expand their operations, create more employment opportunities, and contribute to overall economic development. This is where Kinara Capital comes in. The RBI-registered NBFC ensures that MSMEs have access to the capital they need by providing them with adequate and easily obtainable collateral-free business loans. 

Introduction: Kaleshwari Industries

Sachin Baliram Jadhav started his entrepreneurial journey in 2015 when he established his auto component manufacturing business, Kaleshwari Industries. Prior to taking the entrepreneurial plunge, he had worked at a company for 15 years, starting as a helper and working his way up to a managerial role. It was during this time that he felt the time was right to start his own business. 

Although he began with just two machines, he soon realized that he needed additional funds to enhance his operations. Eager for growth and unsatisfied with the limited resources at hand, he approached traditional banks for a loan. However, he faced rejection because of their stringent documentation requirements.  

Grow your MSME with collateral-free business loans

Partnering for Growth

After he was turned away by a series of lenders, it looked like Sachin’s growth plans would have to be shelved.  It was during this time that he learned about Kinara Capital and the fact that they provide collateral-free loans to MSMEs. In 2016, he approached Kinara and successfully secured a loan. By investing the funds in his operations and acquiring new machinery, he witnessed an immediate improvement in his business performance.

He shares, “I started with just 2 machines, and now I have 17, and it was made possible by Kinara Capital. Now we produce 6-7 types of fully finished components for renowned companies like TATA, Ford, and Mahindra. I salute Kinara for uplifting entrepreneurs like me with their financing support.”

Larger Impact of Kinara’s Support

Kinara’s financing support has had a profound impact on Sachin’s business, enabling him to achieve remarkable growth and expand his business. With the additional capital, he was able to scale up his operations, invest in new machinery, and keep growing his business. The infusion of funds allowed him to increase his production capacity, improve efficiency, and meet the growing demands of his customers. As a result, his business experienced a significant boost in revenue and profitability. Moreover, the expansion also led to the creation of more job opportunities, contributing to the local economy and empowering the community. Kinara’s financing support not only transformed Sachin’s business but also had a broader impact by fueling economic development, promoting entrepreneurship, and driving socio-economic progress in the country.

Anduru is one of 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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