Bengaluru:Kinara Capital, a fast-growing fintech powering financial inclusion, today launched a short-term working capital loan option for its current MSME clients. Available in a range of INR 50,000 to INR 2 Lakhs with fast turnaround time (TAT) and low processing fees, the short term working capital loan will have a tenure of 6-12 months to give to MSMEs the ability to respond to sudden business needs.
MSMEs typically operate on a tight budget and often face limited cash flow when managing changing business priorities, such as trying to fill a new purchase order, printing a new sign, purchase of raw materials, storage of necessary stocks, repair of machinery, etc. or hiring new workers. The short term working capital loan can be used for a number of business requirements.
“By offering a faster, short-term working capital lending option to manage sudden business expenses, Kinara Capital gives MSMEs the leverage that can instantly dictate their turnover. We are always looking for new ways to support our clients, and we’ve made this process even easier with one-click request and digital disbursement from our myKinara app,” said Hardika Shah, Founder and CEO of Kinara Capital.
Accessible through the vernacular myKinara app, the short-term working capital loan aims to support the fast-growing business needs of MSMEs. The myKinara app available on the Google Play Store puts the power within reach of small business entrepreneurs to securely request and receive collateral-free commercial loan disbursements. In addition, female MSME entrepreneurs will be eligible to receive an initial 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 1,000 crore. Serving over 300 MSME sub-sectors, Kinara Capital offers collateral-free MSME loans in over 3000 PINs across Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Gujarat and Maharashtra.
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