Some entrepreneurs are blessed with instant success when they launch their enterprise, and reap the benefits of it as they grow. However, for many, it’s a real struggle to get the business off the ground and the first few years are marked by difficulties and disappointments. At long last, when they do taste success, it’s sweeter than they could have anticipated. All their efforts and sacrifices bear fruit, and in the end, it seems well worth it. Sometimes all it takes to make it happen is the right kind of support at the right time.
Kinara Capital has been providing financing support to MSME entrepreneurs for over a decade, and driving their financial inclusion and growth. With collateral-free loans from Kinara, entrepreneurs can not only improve their operations and boost turnover, but also tide over emergency expenses and unprecedented circumstances. In the aftermath of the pandemic, Kinara successfully helped thousands of MSME entrepreneurs quickly recoup and get back on the growth path.
The story of Rakesh P Singh is one that follows this pattern of struggle followed by glorious success. When he started his snack food business called Sangeetha Foods in 2009, he suffered major losses and his journey was rife with grueling days and worry-filled nights, as his business struggled to take off.
He spent 18 to 20 hours a day working, and even then, didn’t see the growth he wanted. This went on for 2 years, then, around 8 years ago, his business started showing signs of expansion. He bought into a new unit, and soon his operations were up and running better than ever before.
After the initial hurdles, the hard work Rakesh had put into the business resulted in a moderate amount of growth for the business. He still needed financing to take his business growth to the next level and expand his product portfolio as well as customer base.
Things were going well for Rakesh overall, but then the Covid-19 pandemic hit. Just as he was about to expand his product portfolio, all his growth plans were suddenly on the verge of being shelved as liquidity dried up and demand dipped.
Fortunately, Rakesh was approached by a Kinara executive around this time, who explained to him how easily he could avail of a collateral-free loan to invest in his business. He applied for the loan and was also pleasantly surprised by how approachable and supportive the Kinara staff were, and how smooth the loan application process was. He couldn’t believe it when it was processed immediately, and he received the amount in his account within a day!
Rakesh invested the loan amount in his business, and it helped him pull through the financial crunch and recoup quickly. After that, he took another loan from Kinara, this time using the amount to expand his product line, adding “Instant Golagappas”, which turned out to be very popular. For Rakesh, this has been a life-changing experience, which gave him financial independence and a chance to improve his family's standard of living. His days of working 20-hour days are behind him. With Kinara’s support, he has become the proud owner of a very successful business.
He shares, “Since I took the loans from Kinara, my business has expanded by 30-40%, and I have been able to add 5 members to my workforce. Now my business is thriving, and I’m even selling his products online. Kinara’s support helped us pull through the pandemic, and now the business is growing bigger and stronger every day!”
Rakesh 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.