Customer Success Story: Navya Ladies Emporium

May 22, 2023
Updated on

Women entrepreneurs often face unique challenges when starting and growing their businesses. One of the significant barriers they face is access to financing, which can be a major hurdle in their journey towards success. Women entrepreneurs are less likely to receive funding from venture capitalists and other sources of financing compared to their male counterparts. This is because of a variety of factors such as gender bias, stereotypes, and lack of networks. Women may also be perceived as less confident, less competent, and less credible in the eyes of investors.

Women entrepreneurs may also struggle to secure financing because of the types of businesses they start. Women-owned businesses are often in industries that are considered high-risk or too niche, which may discourage investors from providing funding. In addition, women may have a harder time obtaining loans or credit from banks because of their lower credit scores, lack of collateral, and other financial factors. 

Without adequate financing, women entrepreneurs may struggle to expand their businesses, hire employees, and invest in new products and services. This can lead to stagnation, with their businesses unable to grow and reach their full potential. In the case of many women entrepreneurs who approach Kinara Capital, the niche or nascent nature of their business does not become a hindrance in obtaining financing. This enables them to make the most of the opportunities they have and take their businesses to the next level.

Introduction: Navya Ladies Emporium

Chandrakala started her saree shop, Navya Ladies Emporium in Warangal, Telangana, back in 2012. Her business started small, like that of many women entrepreneurs, but she had big plans for her shop. She had her family on her side in this endeavour, and they were very supportive throughout the process, which helped her business get off the ground. 

Chandrakala’s business retailed sarees, and the traditional garment’s popularity meant that her business had great prospects. The saree shop took off and started faring well, with demand for the wide variety of apparel Chandrakala stocked being quite high.

Problem Statement

After a while, Chandrakala started looking for ways to expand her business. This required a substantial amount of investment. She did not have this amount in hand herself, having invested substantially in launching the business and getting her operations off the ground. Soon she realized that the best way to finance her growth would be to approach a lender and access a loan. As she sought the support of a financing company, she chanced upon an ad for Kinara Capital’s collateral-free business loans. Intrigued, she reached out, and since then there has been no looking back.

Grow your MSME with collateral-free business loans

Impact of Solution Offered by Kinara Capital

Soon after Chandrakala approached Kinara, her HerVikas loan of Rs. 6 lakhs was sanctioned. To her surprise, the loan amount reached her bank account within just 2 days, and Chandrakala was able to embark on her company’s growth journey immediately, taking it to new heights soon.

She shares, “If it had been any other financing company, the approval process would have taken ages, but since it was Kinara, the loan amount hit my account in just 2 days! I invested the money in my business and in no time, my daily transaction volumes had shot up. Earlier, I used to make sales of just around Rs. 10,000 a day, and now it’s up to Rs. 60,000-70,000. This is an unprecedented amount of growth, and it’s all thanks to Kinara Capital!”

Chandrakala is one of 45000+ MSME entrepreneurs in India who have benefited from Kinara Capital’s collateral-free MSME business loans. Kinara Capital, an RBI-registered, Systemically Important NBFC in India with an aim to empower the MSME sectors has disbursed 75000+ business loans worth INR 3500+ crores to date. With its branches across 3000+ pin codes, Kinara provides doorstep services in vernacular.

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.

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