Kinara Capital, a fast-growing fintech that promotes financial inclusion, announced the availability of a Short-Term Working Capital loan for its existing MSME customers. The Short-Term Working Capital loan would have a 6-12 months tenor. It will be available in the range of INR 50,000 to INR 2 lakhs with rapid turnaround (TAT) and minimal processing fees to enable MSMEs the option of meeting unforeseen business needs.
When dealing with 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, MSMEs typically run on a tight budget and are frequently challenged with restricted cash flow. A short-term working capital loan can be utilized for a variety of purposes.
“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.
The Short-Term Working Capital loan, available through the vernacular-friendly myKinara app, is designed to help MSMEs meet their short-term company growth needs. The myKinara app, accessible on the Google Play Store, gives small business owners the ability to apply safely and receive collateral-free business loans. In addition, under Kinara’s HerVikas initiative, MSME women entrepreneurs will be eligible for an upfront discount on Short-Term Working Capital loans.
Kinara Capital has aided thousands of SMEs by disbursing over 70,000 loans so far and now has an AUM of over INR 1000 crores. Kinara Capital provides collateral-free MSME loans in over 3000-plus pin codes in Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Gujarat, and Maharashtra, serving over 300 MSME sub-sectors.
