Women entrepreneurs often possess a unique and in-depth understanding of the markets in which they operate. This is because many women entrepreneurs have had to work harder to establish themselves in their respective fields due to the gender-based discrimination and biases that they may face. As a result, women entrepreneurs are often more attuned to the needs and preferences of their customers, and have a better understanding of the competitive landscape in their industry.
However, despite their potential, women entrepreneurs often face significant challenges in accessing the financial resources they need to scale up their businesses. Data shows that women entrepreneurs are less likely to receive funding from investors, and are often subject to discriminatory lending practices by financial institutions. This lack of financial assistance can limit their ability to expand their businesses, hire more employees, and invest in new technologies. This is not only a setback for them, but also an overall loss for the economy and the nation as a whole.
To address these challenges, it is crucial to provide women entrepreneurs with the necessary financial assistance and resources to grow their businesses. Kinara Capital offers special discounted business loans to women entrepreneurs under its unique HerVikas program. By supporting women entrepreneurs, we can help to unlock their potential and promote greater gender equality in the business world. Research has also shown that investing in women-led businesses can lead to significant economic benefits, including job creation and increased economic growth.
Sunita Vishwakarma started her textile business, Tanvi Ladies Tailor, in Mumbai, Maharashtra. Hailing from Kolhapur, Sunita always harboured dreams of starting a business of her own someday even as she worked as a helper, and eventually, she made it happen. She put in an immense amount of hard work and got the company off the ground, and it slowly picked up momentum.
After establishing her business, Sunita wanted to invest in additional machinery to expand apparel manufacturing. This would establish her footprint in the market and boost her profitability. Like many women entrepreneurs, she had big dreams about not only building a successful company, but also creating a welcoming work environment that would provide other women with a means to earn a good living.
Although Sunita had big plans for her business, it required a substantial capital investment, which she didn’t have at the time. Before her business could stagnate, she found Kinara Capital and took a business loan which transformed her operations. As a woman entrepreneur, Sunita qualified for a discount under Kinara’s HerVikas business loans program for women-owned MSMEs. Now, she works closely with 4 companies, and the orders never stop coming. The HerVikas business loan helped Sunita scale up her business, and in turn, hire 4 people and to run the 4 machines she now owns. Now the work never stops as the orders keep pouring in, and she runs the machines 365 days a year. She is very proud of the way she has been able to transform her own career trajectory and standard of living, as well as provide employment to 4 other women, and a source of income to many more.
Sunita shares, “I started as a thread-cutter and worked very hard to launch my own business. Now that I’ve established my business, anyone is welcome to come and work with me, there is no discrimination here. Some of my women employees complete the work from their home. This provides them with flexibility and helps them make a living, which also gives me great happiness. I am a proud HerVikas business woman and urge Kinara to help others like me. Thank you!”
Sunita is one of thousands of women entrepreneurs who have benefited from Kinara’s HerVikas loans. If you are a woman entrepreneur, it’s time to get your growth journey started with HerVikas. 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.
