Kinara Capital introduces Collateral-Free Short-Term Working Capital Loan
Rapid TAT to Expedite Financing for Quick Business Growth Needs for MSMEs
BANGALORE, January 27, 2022 – Kinara Capital, a fast-growing fintech propelling financial inclusion, today introduced Short-Term Working Capital loan option for its current MSME customers. Available in the range of INR 50,000 to INR 2 Lakhs with rapid turnaround (TAT) and lower processing fees, the Short-Term Working Capital loan will have a tenor of 6-12 months to give MSMEs the option of fulfilling sudden business needs.
MSMEs typically run on a tight budget and are frequently challenged with restricted cash flow when handling changing business priorities, such as, trying to fulfill a new purchase order, printing a new signboard, purchasing raw materials, stocking up on needed inventory, machine repair, or hiring new workers. Short-Term Working Capital loan can be used for any number of business requirements.
“By offering a quicker Short-Term Working Capital loan option to handle sudden business expenses, Kinara Capital is giving MSMEs leverage that can instantly dictate their turnover. We are always looking for new ways to support our customers, and we have made this process even simpler with a one-click request and digital disbursement from our myKinara app,” said Hardika Shah, Founder & CEO, Kinara Capital.
Accessible via vernacular-friendly myKinara app, the Short-Term Working Capital loan is aimed at supporting quick business growth needs of MSMEs. myKinara app available on the Google Play Store puts the power at the fingertips of small business entrepreneurs to securely apply and receive disbursements of collateral-free business loans. Furthermore, MSME women entrepreneurs will qualify to receive an upfront discount on Short-Term Working Capital loans under Kinara’s HerVikas program.
Kinara Capital has supported thousands of MSMEs to date by disbursing over 70,000+ loans and currently holds an AUM of over INR 1000 crores. Serving over 300+ MSME sub-sectors, Kinara Capital offers collateral-free MSME loans in 3000+ pin codes across Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Gujarat & Maharashtra.
About Kinara Capital
Kinara Capital is a fast-growing fintech propelling financial inclusion of small business entrepreneurs in India. Boasting a women-majority management team, Kinara Capital has set itself apart in the industry with its emphasis on social impact and profitable growth. Globally recognized for its innovative approach, Kinara earned the ‘Bank of the Year-Asia’ award by the IFC, is ranked among the ‘Top 100 High-Growth Companies in Asia-Pacific’ by the Financial Times and is named among ‘India’s Growth Champions’ by the Economic Times. Kinara Capital is qualified as a Systemically Important NBFC by the Reserve Bank of India and is a debt listed entity on the Bombay Stock Exchange (BSE). Founded in 2011, Kinara Capital has made a mark with its innovation in financial inclusion by providing fast and flexible collateral-free loans in the range of INR 1-30 lakhs across 300+ MSME sub-sectors serving 3000+ pincodes in India. Headquartered in Bangalore, Kinara Capital has 110 branches across 90+ cities in India. Click on www.kinaracapital.com for more information on the company and follow us on Twitter @KinaraCapital. Download the myKinara app on the Google Play Store.
This press release may contain projections and other forward-looking statements regarding future events or future financial performance. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. Given business risks and uncertainties, undue reliance on these forward-looking statements should not be placed. Actual events or results may differ materially from those contained in the projections or forward-looking statements.