Veera Raghava Reddy
Some small businesses have what it takes to survive for decades, catering to their own small pool of customers and not really upgrading their operations. While this can be a good enough way for a small business entrepreneur to earn a steady income, it’s not a good way to keep up with the times. It can cause a lot of wasted potential and keep the business from getting as bi or successful as it could have. A lot of it has to do with the lack of adequate capital inflow, which limits the optimization of operations and expansion of the business.
Veera Raghava Reddy, who runs Reddy Automobiles in Visakhapatnam, started his business in 1988, and over the decades that followed, he ran his shop as a small business but didn’t have the capital to scale up. In 2015, he was approached by a Kinara representative, who explained the process to get a collateral-free loan to help his business grow. Reddy was interested in taking the process forward, and soon after, he received a loan amount of Rs. 4 lakhs. He invested it in his business, and after a few years, approached Kinara again for another loan, followed by a third, all of which he used to successfully grow his business. He shares, “With Kinara’s support, I was able to significantly boost my turnover. Now I do business of around Rs. 15,000 every day. I’m extremely happy with Kinara’s service.”