Consistent support plays a pivotal role in the success and growth of small business entrepreneurs, particularly during challenging times. These entrepreneurs often face numerous obstacles and uncertainties, ranging from economic downturns to competitive markets. However, with ongoing support, they can navigate these difficulties and emerge stronger.
One essential form of support for small business entrepreneurs is financing. Access to adequate funding allows entrepreneurs to invest in their business operations, expand their reach, and seize new opportunities. Whether it’s securing a business loan, attracting investors, or obtaining grants, financing provides the necessary resources to fuel growth and innovation.
Financial support not only provides the means to invest in infrastructure, technology, and marketing but also acts as a form of encouragement. Kinara Capital understands this need and steps in to provide financing to MSMEs. When entrepreneurs receive funding, it signifies that others believe in their vision and potential. This validation fosters a sense of confidence, motivating them to persevere through challenges and take calculated risks. Consistent support empowers entrepreneurs to be more resilient in the face of adversity. Small businesses often experience fluctuations in cash flow, unexpected expenses, or market downturns. Having access to financial resources through Kinara allows entrepreneurs to weather these storms, bridge gaps, and continue operating during tough times. It enables them to retain employees, pay bills, and adapt their business strategies to changing market conditions.
Durga and her husband Shankar Reddy run the Sri Sai Bangles and Cloth Store in Cherlapally, Hyderabad. In 2016, they started their business with limited funds. Recognizing their need for financial assistance, they decided to explore loan options and approached Kinara Capital.
After providing the necessary documents, they were able to secure a loan of Rs. 2 lakh, which they were able to repay quite easily. Impressed with their prompt repayment, Kinara Capital contacted them again, offering a festival loan of Rs. 1 lakh, which they successfully repaid within six months.
Following that, they were provided with a Covid relief loan of Rs. 1.2 lakh with a one-year interest-only payment period before starting the EMI. This loan helped them develop their business even during the financial crunch that followed the pandemic, and they were able to purchase much-needed inventory. Given their diligence in repayments, Kinara Capital approached them again with a loan offer of Rs. 5 lakh, which helped them further bolster their growth, and there has been no looking back for them since.
Durga shares, “The efficiency and speed of Kinara Capital’s loan process are unmatched! We had approached a number of other lenders before Kinara, and each time we were discouraged by the complicated processes and the time it would take to issue a loan. With Kinara, we received the loan in a matter of days. We recommend Kinara Capital to anyone seeking quick and easily accessible business loans.”
Consistent support in the form of financing promotes innovation. When small business entrepreneurs like Durga have the financial means to experiment, research, and develop new products or services, they can stay ahead of the competition. Innovation is a vital aspect of business growth, as it allows entrepreneurs to meet evolving customer needs, differentiate themselves from competitors, and seize emerging market trends. Funding provides small business entrepreneurs with the freedom to explore new ideas and bring them to fruition, ultimately leading to remarkable success.
Women entrepreneurs like Durga effect positive changes by creating jobs and uplifting their families and local economies by bringing in the possibility of incremental income generation. By supporting such entrepreneurs through the HerVikas scheme, Kinara is not only impacting individuals, but also families, communities and local economies.
Durga is one of 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.
