A lot of young MSME entrepreneurs in India might not have the opportunity to pursue higher education degrees, but they are just as smart and savvy as their academically trained counterparts. It’s not unheard of for such entrepreneurs to have a breakout success with their business with the hard work and new-age, tech-enabled capabilities that they bring to the table. However, even if they are able to figure out a lucrative industry and start a business from scratch, they are often in dire need of financing support to actualize the plans they make.
Kinara Capital provides small business entrepreneurs with the capital they need to make the most of the opportunities a burgeoning industry offers. By having ready access to funding, business owners can seize market opportunities at the right time without compromising the cash flow of their business. This allows them to have a competitive edge and capitalize on their unique capabilities to get ahead.
Mohan Ramchandra Mali was born into a farming family in a small village in Shiroli. When he had to give up on his education after high school because of financial constraints, he realized that he would have to forge his own path to success. He realized that entrepreneurship was the right path for him to pursue.
When Mohan decided to start his own business, he immediately got to work researching what the profitable idea would be. He saw that the packaging industry in the country was growing very rapidly to keep up with rising demand, as all products needed high-quality packaging before they hit the market, if they were to succeed. He settled on the industry, and in 2013, he started his packaging manufacturing company in Kolhapur, Maharashtra.
Things were going well for Mohan, but he wanted to grow his business much bigger. Given the potential that the sector held, he wanted to boost the production capacity of his unity, and add to its reach. However, he didn’t have the wherewithal to fund this expansion out of pocket.
Many small business entrepreneurs in India find themselves at this juncture and go looking for financing options, only to end up empty handed. Fortunately, in the case of Mohan’s business, things turned out differently.
One of Mohan’s friends recommended Kinara Capital’s collateral-free loans to finance his plans, and he seized the opportunity. He met a Kinara executive and was soon issued his first loan, which he invested in his business, adding machinery and manpower.
While he was still repaying it, Mohan approached Kinara again and received a series of additional loans to finance his various expansion plans. The growth he experienced following this capital infusion was exponential!
Kinara’s intervention completely transformed Mohan’s business over time. He shares, “Kinara supported me with financing whenever I needed it, and it helped me scale up my production. I started with just 3-4 employees, and now I employ 45 people! Out of them, 20 are men, and 25 are women. Now my business has become an established name in the market, and ice cream factories across Kolhapur, Satara, Sangli, and even certain locations in Karnataka, rely on me for their packaging needs. Kinara helped me increase my yearly turnover from around Rs. 16 lakhs to Rs. 3.5 crores, and now my net profit stands at 25-30 lakhs each year! I’m very happy with Kinara’s services, and recommend them to all MSME entrepreneurs.”
Mohan is one of 75000+ 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 100,000+ business loans worth INR 6500+ crores to date. With its branches across 4500+ 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. 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.
