Customer Success Story: R K Industries

May 23, 2024
Updated on

Young small business entrepreneurs possess immense potential to drive innovation, economic growth, and job creation. Their unique combination of fresh perspectives, innovative thinking, and entrepreneurial spirit enables them to challenge conventional norms and bring about transformative changes. These young entrepreneurs often identify gaps in the market and develop creative solutions to address them, thereby spurring innovation and disrupting traditional industries. Their ventures not only create new products and services but also introduce novel business models that revolutionize the way industries operate.

Young entrepreneurs have immense power to positively impact livelihoods and local economies. By establishing and growing their businesses, they create employment opportunities, providing jobs to the local workforce. This leads to economic empowerment, reduced unemployment rates, and enhanced living standards within their communities. Additionally, these entrepreneurs tend to prioritize sustainability, social responsibility, and inclusivity in their business practices, contributing to the overall well-being of society and fostering inclusive growth.

Young small business entrepreneurs also serve as role models and inspirations to aspiring entrepreneurs, encouraging them to pursue their dreams and contribute to the economic and social development of their countries. Through their determination, resilience, and willingness to take risks, they demonstrate the possibilities of entrepreneurship and inspire others to take similar paths. Supporting and nurturing young small business entrepreneurs is crucial for building a vibrant and thriving entrepreneurial ecosystem that drives economic progress and creates a sustainable future.

Introduction: R K Industries

Ashish Ananda Khot started R K Industries in November 2017, soon after completing his graduation. He had always wanted to become an entrepreneur, so he started researching and settled on the idea of a machine shop as a viable business. 

With the help of his family, he started with one retrofit machine worth Rs. 5 lakhs in a small 200-300 sq. ft. space. As a young entrepreneur, he aspired to expand his business but worried about banks being unwilling to lend to him. 

Grow your MSME with collateral-free business loans

Encouraging Young Entrepreneurs

Fortunately, Ashish met a Kinara Capital executive at just the right time, who suggested collateral-free loans. Ashish applied and received the loan amount within 15 days. With the funds, he increased the number of machines to five in just 2 years and expanded his premises to 800 sq. ft. His turnover grew from Rs. 3–4 lakhs to Rs.18 lakhs, a fourfold increase in just two years. For a young entrepreneur, growth of this scale is a gamechanger, as it means that his business is set to keep expanding going forward, instead of stagnating at a nascent stage.

Ashish shares, “Kinara’s financing support was very beneficial for my business. I recommend all young entrepreneurs who are starting out to connect with Kinara. They don’t discriminate against entrepreneurs based on issues like age. Thanks for all the support, Kinara!”

Larger Impact of Kinara’s Support

Kinara’s support of young small business entrepreneurs like Ashish has significant positive outcomes for both the local economy and the nation as a whole. By providing accessible and flexible financing solutions, Kinara empowers these entrepreneurs to fuel their business growth and contribute to the local economy. As these businesses expand, they generate employment opportunities, thereby reducing unemployment rates and improving the socio-economic conditions of the local community. The increased economic activity and job creation have a ripple effect, stimulating consumer spending, boosting local businesses, and fostering overall economic growth. 

The success stories of these young entrepreneurs also inspire others to pursue entrepreneurship, creating a culture of innovation and enterprise within the nation. Ultimately, Kinara’s support of young small business entrepreneurs plays a pivotal role in driving economic progress, fostering entrepreneurship, and building a prosperous future for both the local community and the nation as a whole.

Ashish 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.

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