Small business owners who possess a deep understanding and education about their industry significantly increase their chances of success. With a strong foundation of knowledge, they are better equipped to navigate the complexities of their market, identify opportunities, and make informed decisions. However, knowledge alone is not always sufficient to achieve success. In India, micro, small and medium enterprise (MSME) entrepreneurs struggle to secure the financing they need to achieve their full growth potential. To navigate this issue, they need the support of a reliable financial partner to back them in their endeavours. This can play a crucial role in unlocking the full potential of these knowledgeable and driven entrepreneurs.
When small business owners with industry expertise receive support from a trusted financial partner, their potential for development and accomplishment is greatly enhanced. Such support can come in various forms, including access to capital, financial advice, and strategic guidance. By having a financial partner who understands their industry and believes in their potential, business owners can focus on their core competencies and drive growth without the constant worry of financial constraints.
In the case of Kinara Capital’s MSME customers, they not only receive timely financing support from the company, but also gain a long-term growth partner. This support allows small business owners to focus on their market and expertise, rather than being burdened by financial concerns. They can dedicate their energy to developing innovative products, delivering exceptional services, and ensuring that their customers’ needs are met.
Suchita started her business in 2019 after finishing her BBA degree in AgriClinic and AgriBusiness. Krushakmitra is an agricultural supplies store that supports farmers with their seasonal needs and sells a wide range of fertilizers, seeds, and agricultural equipment. Typically, it sells about 50-75 agricultural machines in a month.
Suchita's dedication to customer happiness is clear in her creative approach, which involves teaching farmers via demo films and explanations on how to use machinery equipment for their various needs properly and safely. She provides a variety of promotions and discounts, timed to coincide with seasonal holidays such as Diwali and Dussehra, as well as special occasions such as Women's Day.
Suchita recognized seasonal demand for specialized machinery such as threshers and harvesters, and modified her business approach to ensure adequate inventory during peak seasons. Rather than selling at retail pricing, she sells at wholesale rates, maximizing affordability for the farmers; and she needs working capital to continue to grow so that she can benefit more farmers. This came in the form of a collateral-free loan from Kinara Capital.
She shares, "Kinara's finance and assistance is critical to the success of my business. As a woman entrepreneur, I was able to obtain a HerVikas loan which inspired me to give discounts on Women’s Day to my customers. The loan resulted in a revenue boost and has motivated me to grow my business further so I can support as many local farmers as possible.”.
Suchita’s success story is a testament to the fact that collaboration between knowledgeable business owners and a supportive financial partner creates a fruitful relationship. A financial partner like Kinara can provide valuable insights and resources that complement the business owner's expertise, resulting in a more robust and comprehensive approach to business operations.
This kind of collaboration fosters innovation, agility, and adaptability, enabling MSMEs to stay competitive in a rapidly changing market landscape. Kinara’s support allows small business owners to seize opportunities for expansion, invest in research and development and create jobs. It provides the necessary stability and resources to fuel initiatives and achieve long-term sustainability and growth.
Suchita 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. You can now get a business loan by giving a missed call on 080-68264454 and go from decision to disbursement within 24 hours.