Small business owners often face time-sensitive situations where they need access to funds quickly to keep their business running smoothly. For example, they may need to purchase inventory or equipment, pay employees, or cover unexpected expenses such as repairs or emergencies. However, traditional banks can be a challenging source of financing for small business owners. Banks usually require extensive documentation and may take weeks or even months to process loan applications. This can be a major obstacle for entrepreneurs who need funds urgently. In addition, banks often require collateral, such as property or equipment, to secure a loan. This can be a significant barrier for small business owners who do not have substantial assets to pledge as collateral.
This is where Kinara Capital comes in. Kinara specializes in providing collateral-free business loans to MSMEs in India. The company offers quick and easy access to funding with a very short turnaround time. This means that businesses can apply for and receive financing in a matter of days, rather than weeks or months. By providing collateral-free loans, Kinara helps small business owners who may not have assets to pledge as collateral to access the funding they need. This also reduces the risk of losing valuable assets, such as property or equipment, if the business is unable to repay the loan. With Kinara Capital, entrepreneurs can apply for loans online, which streamlines the application process and speeds up the approval and disbursement of funds. The company also provides personalized support and advice to help business owners make informed decisions and grow their enterprises.
Mahender founded his venture, Vihaan Polymers, only a few years ago. This is not his first business, which manufactures pet bottles and packing jars. Prior to that, he co-owned and operated a company with his partner that produced refrigerator bottles. Mahender eventually chose to go it alone and founded the business with just one machine and three people.
His small manufacturing company had revenue of roughly Rs. 6 lakhs. Even as his business progressed, Mahender became aware that his capital requirements were increasing. He really needed funds to stabilize and develop his business. He began exploring lending possibilities online and came upon Kinara Capital.
Mahender approached Kinara based on positive recommendations and the promise of a collateral-free business loan and was immediately approved for an asset acquisition loan. He put the funds towards a second machine, and before he knew it, his revenue had doubled to Rs. 12 lakhs. The next big requirement that arose was for raw materials. Mahender approached Kinara again 6-7 months after the initial loan and got a working capital loan. Since then, the capital influx has dramatically transformed his business.
He shares, “Kinara disbursed the loan in just 3 days, and I was able to immediately start improving my business. Since the second loan, my turnover has further increased to Rs. 16-17 lakhs, and I now employ around 12 people. Before I found Kinara, I had very little going for me, and my business was barely scraping by. Now it’s thriving!”
Mahender’s success story highlights the positive impact Kinara Capital can have on small businesses and local economies. The collateral-free business loan provided by Kinara helped Mahender stabilize and develop his business, which in turn led to increased revenue and the ability to hire more employees. As his business grew, Mahender required additional funding, and Kinara was able to provide him with a working capital loan in just 3 days. This capital influx has dramatically transformed Mahender’s business, increasing his turnover and allowing him to expand his operations. By supporting small businesses like Mahender’s, Kinara is helping to create jobs and drive economic growth in local communities.
Mahender is one of the 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. 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.
