Customer Success Story: S J Engineering

August 14, 2023
Updated on

Supporting women-owned Micro, Small, and Medium Enterprises (MSMEs) carries profound implications for both the economy and society at large. Women entrepreneurs bring a unique perspective and approach to business, often leading to innovative solutions and diverse business strategies. Moreover, their ventures create job opportunities, stimulate local economies, and contribute significantly to a country’s GDP. When women are given the resources and opportunities to thrive as entrepreneurs, it has a ripple effect on their families and communities, breaking the cycle of gender inequality and empowering future generations.

What sets women entrepreneurs apart is their unwavering grit and resilience in the face of adversity. Many women balance the demands of their businesses with household responsibilities and societal expectations. Overcoming biases, access to finance, and networking challenges can be formidable obstacles, but these entrepreneurs exhibit incredible determination and tenacity, defying the odds to achieve their dreams. Their stories serve as inspiration, shattering stereotypes and demonstrating that with the right support, women can excel in traditionally male-dominated fields. In this landscape, Kinara Capital’s HerVikas scheme emerges as a beacon of hope. By acknowledging the specific hurdles women entrepreneurs encounter, this initiative tailors its offerings to meet their needs and helps their businesses reach new heights of success.

Introduction: S J Engineering

Ratna Kumari’s entrepreneurial journey started with the establishment of S J Engineering Works. Located in Subhash Chandra Nagar, Kushaiguda, Hyderabad, Telangana, Ratna embarked on this venture alongside a friend three years ago, fueled by the shared vision of success. 

In the pursuit of business growth, Ratna and her husband were on the lookout for financing options to take their operations to the next level. Fate intervened when her husband’s friend recommended Kinara Capital, a financial institution that had already proved its worth in the eyes of their acquaintance. With the friend’s endorsement, Ratna’s journey with Kinara Capital began. The process of securing a loan turned out to be remarkably smooth. The executive’s visit to their premises expedited the formalities, leading to the approval of a loan worth Rs. 8 lakhs in October 2022. This proved to be a turning point for S J Engineering Works. 

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Boosting Overall Growth

Kinara’s support resulted in immediate tangible improvements for Ratna’s company. The influx of resources facilitated increased production, causing the company’s turnover to soar from Rs. 2 lakhs to an impressive Rs. 4-5 lakhs. What further set Ratna’s experience apart was her status as a woman entrepreneur, which entitled her to a 1% discount in the rate of interest. This recognition of her role and contribution served as a testament to the growing acknowledgement of women’s influence in the business world.

Prior rejections from traditional banks had been discouraging, but Kinara Capital’s efficient and responsive approach turned the tables. With only a few documents required, Ratna and her husband found themselves in possession of the much-needed funds. Their satisfaction with Kinara’s services extended beyond the timely disbursement of the loan; it encompassed excellent customer service and the institution’s commitment to helping small businesses thrive.

Running a manufacturing business specializing in machinery-related spare parts with a staff of five members, Ratna’s pride in her role as a woman entrepreneur shines through. She shared, “Kinara Capital’s financial support not only paved the way for my business’s growth but also contributed significantly to my personal and professional fulfilment.”

Larger Impact of Kinara’s Support

Kinara Capital’s commitment to women-owned MSMEs is an example of corporate responsibility at its best. By addressing the gender gap in entrepreneurship, they not only promote economic progress but also contribute to a more inclusive and equitable society. As these women-led businesses flourish, they inspire others to break barriers, challenge norms, and contribute to a more diverse and vibrant entrepreneurial landscape. Through HerVikas, Kinara Capital is catalyzing a positive change that extends far beyond financial assistance, helping to build a world where women entrepreneurs can truly shine.

Ratna’s success is a testament to her determination and resourcefulness, but what makes Ratna’s journey stand out is the strong support system she had, not just from her business partner but also from her husband who played a pivotal role in the establishment of the company, and it was all brought to fruition with Kinara’s critical financing support.

Ratna is among 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.

Check your Eligibility in 1-minute!

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