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July 15, 2022

Customer Success Story – Ugam Beam Science Private Limited

    • July 15, 2022
    • By Team Kinara
    • < 1 mins read

    MSME Loan

    Light Amplification by the Stimulated Emission of Radiation (LASER) is a beam that stimulates the release of particles of light. Laser cutting, welding and marking are some manufacturing specific mechanisms that could be manual as well as automated.

    Laser marking is a permanent process of using a concentrated beam of light to make a long-lasting mark on any surface like steel, iron aluminium, polymers, rubbers etc. It is majorly used for permanent engraving on metal machinery, mark code and scanners and automotive tracing for various engine components. Laser cutting is computer numerical control and optically driven laser beams which when focused on any surface melts, burns, vaporises or blows away the jet of gas resulting in a finished, high-quality edges. This cutting process is mainly used for metal and wood works.

    Laser welding on the contrary is a process of joining together metal or wooden pieces using a laser beam to make a weld. It operates in fundamentally two different modes: conduction limited and keyhole welding depending on the power density falling on the workpiece.

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    About Ugam Beam Science Private Limited

    Ugam Beams has been in service since 2002 in Ahmedabad, Gujarat. Initially launched as a supplying business, Ugam started manufacturing machines for the customers in 2007. Jignesh Chumakia is the owner of this MSME manufacturing business.

    Jignesh stated that they deal in laser products such as laser marking, laser cutting and laser welding. Their services are broadly distributed among various industries in the country like automobile, bathroom fittings, orthopaedic implants manufacturing, watch and LED manufacturing. Ugam provides machines and solutions to these industries.

    Problem Statement

    Started as a supplier business, Ugam grew and moved into the manufacturing industry in 2007, it took a new turn to grow further. While the business was working well, Jignesh wanted to expand it further to start the in-house production of laser machines for cutting, welding and marking to supply it to various parts of the nation.

    Solution Offered by Kinara Capital

    Jignesh Chumakia turned towards Kinara Capital, the fast-growing NBFC in India, where after receiving the knowledge about the easy process, fast documentation uploads, he applied for his first loan. A loan worth INR 3,66,000 was disbursed and Ugam started in-house production of milling machines in the year 2018-2019.
    Jignesh commented saying this easy loan process was only possible from Kinara, he appreciates Kinara staff saying that their guidance made it possible to get a loan approved easily and quickly from Kinara Capital.

    Impact of Solution Offered by Kinara Capital

    As soon as the loan was disbursed Ugam invested the money in purchasing assets which led to increased production of the laser machines resulting in increased turnover, eventually gaining stability in the market.

    After successfully investing the first loan and increasing production, Ugam received a second loan worth INR 1 lakhs to expand the business further with an increase in turnover for the company. With growing business, the need of the hour was to increase the manpower, thereby availing a third loan worth INR 12 lakhs, the Ugam family flourished as they hired more people to handle the in-house production. This working capital loan helped Jignesh to raise the production capacity.

    With an increased number of manpower, Jignesh’s business to earn more profits everyday, the trajectory of his business spiked and a fourth loan worth INR 3 Lakhs was disbursed by Kinara in his name. Jignesh appreciated working with Kinara Capital and added, “We will be more than happy to work further with Kinara Capital whenever we get a chance in the future.”

    Kinara Capital is an RBI registered Systemically Important NBFC in India which provides collateral free loans to small business owners. Kinara has disbursed 75000+ loans worth INR 3000+ crores till date. To grow your MSME, check your loan eligibility on the myKinara app in your preferred vernacular from the Google Play Store and get your loan disbursed within 24 hours. Now you can avail a business loan by just giving a missed call at 080-68264454.

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    Written by
    Team Kinara
    • Tags
    • Manufacturing MSME
    • MSME manufacturing
    • customer success story
    • small business entrepreneur
    • business loans
    • MSME loans

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