Sri Sumangali Sweets and Bakery
Working capital loans can not only help a business run smoothly, but can actually transform it altogether. A great example of this is the growth story of Madagala Kanakaraju from Andhra Pradesh. He owns a confectionery shop named Sri Sumangali Sweets and Bakery, which was a fledgling business till a few years ago.
Kanakaraju used to buy sweets wholesale to sell at his shop, which meant that the profit margins were small and he was reliant on others to run his business. He wanted to expand, but there wasn’t enough capital and he knew it would be near impossible to get a bank loan. Then he was approached by a Kinara representative, but Kanakaraju could hardly believe that he was eligible for a loan. He shared, “I didn't think it was possible. I asked who would give us a loan? But they assured me that it is possible, and my loan was sanctioned within 5 days. I couldn't believe it! With the loan amount he received, Kanakaraju was able to set up his own bakery. He then applied for another loan from Kinara, which he used to invest in the expansion of his shop and increase his revenue. “I even got a sign-board for the front of my store, which made me very happy. My business has grown by 30-35% since I took the loans. I am deeply thankful to Kinara Capital.”