Customer Success Story: Zia Engineering Works

May 23, 2024
Updated on

Starting a business in India can be a challenging task, especially for small business entrepreneurs who have limited resources and support. However, despite facing various hurdles, many small business entrepreneurs in India have shown an incredible amount of tenacity and resilience in their entrepreneurial journey.

One of the main challenges faced by small business entrepreneurs in India is access to capital. They often have very little capital to start a business and may struggle to get loans or investments from traditional sources such as banks or venture capitalists. This means that they have to rely on personal savings or alternative financing options to get their businesses off the ground. Moreover, small business entrepreneurs in India also have to deal with various regulatory hurdles, bureaucratic red tape, and other operational challenges. The process of getting licenses, permits, and approvals can be time-consuming and costly, making it difficult for entrepreneurs to focus on growing their businesses.

Despite these challenges, small business entrepreneurs in India have shown remarkable tenacity and perseverance. They are often driven by a strong sense of purpose and the desire to create something of their own. They are willing to put in long hours and work hard to overcome the challenges they face. With a little financing support, which Kinara provides, these entrepreneurs can soar ever higher.

Introduction: Zia Engineering works

Mohd Muzaffar had a rough start in life, having grown up very poor, but he was determined to make something of himself. He worked very hard and had a number of jobs, including delivering newspapers. Eventually, he learned to work with lathe machines and went on to make a career out of it. He realized that becoming a business owner was a surefire way to achieve long-term success and improve his standard of living. He started his machine tools manufacturing business, Zia Engineering Works, in Hyderabad, Telangana. 

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Seizing the opportunity

Mohd’s business got off the ground successfully, but he had much bigger plans for his company, given how promising the machine tools sector in India looked. He needed financing to make significant improvements to his business, and that opportunity came to him in 2015, when he approached Kinara and was issued a loan of Rs. 5 lakhs.

This was followed by another in 2017, and then a third loan of Rs. 10 lakhs. He invested the amounts in his business, and there has been no looking back since. Not only has it helped him significantly boost his turnover, it has also upped the quality and capacity of his production, ensuring that his growth never slows down.

Growth trajectory

Mohd has put the financing to the best use possible, investing in equipment and business expansion, as well as adding to his workforce, in turn providing employment to others. Not only has he successfully changed his own life, but has also been able to open doors for others. For someone from a disadvantaged background, there can be no greater victory.

He shares, “I used the loans from Kinara to buy machinery and expand my business operations. My turnover, which stood at Rs. 2-2.5 lakhs before the loss, shot up to Rs. 5-10 lakhs! I had 4-5 workers earlier, and now I employ 15-16 people. I come from a humble background, and thanks to Kinara’s support, I am not only a businessman now, but the owner of a thriving company! I always make my loan repayments on time, and look forward to having a long and fruitful relationship with Kinara in the future.”

Mohd 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 4500+ crores to date. With its branches across 3000+ 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.

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