Kinara Capital recorded an AUM growth of 190% in FY2022-23 from the two states
Bangalore-headquartered Kinara Capital plans to support thousands of MSMEs in Telangana and Andhra Pradesh by disbursing Rs.800+ crores in FY24 in collateral-free business loans.
Since the fintech began its operations in this region in 2016, the company has disbursed over 20,000 business loans to mostly micro – and small – enterprises in the urban and semi-urban regions across the two states.
Kinara Capital recorded an AUM growth of 190% in FY2022-23 from these regions.
The impact of supporting micro-small-medium enterprises (MSMEs) builds stronger communities with new opportunities for income generation and job creation.
Kinara has disbursed more than Rs.1,200 crores to date to MSMEs in Telangana and Andhra Pradesh which led to over Rs.36 crores in incremental income generation for the small business entrepreneurs, and created over 16,000 new jobs in the local economies.
Kinara Capital has seen highest disbursement and growth among the states major MSME sub-sectors: Food Products, Building Materials, Electricals, Fabrication, Wood Products, Metal Components, and Fashion. Kinara provides business loans to over 300 sub-sectors across Manufacturing, Trading and Services MSME sectors.
Thirunavukkarasu R (Thiru), Chief Operating Officer (COO), Kinara Capital, said on 7 June 2023, “I am proud to reaffirm our unwavering commitment to the prosperity of Telangana and Andhra Pradesh.
“With the type of entrepreneurial commitment that we see here, we expect 20% of our growth this financial year to come from MSMEs in this region. We are dedicated to the success of our customers by providing tailored financial solutions and personalized customer service to supercharge their growth.”
Kinara Capital brings access to formal credit to MSMEs by providing collateral-free business loans in the range of Rs.1-30 lakhs with various products including Long-term and Short-term Working Capital, Asset Purchase (Machinery Purchase) and Bill Discounting loans.
Additionally, women-owned MSMEs receive an upfront automatic discount on business loans with Kinara’s HerVikas program that empowers women entrepreneurs.
Additionally, Kinara Capital expands non-financial services to its customers with its popular ‘Grow With Kinara’ free workshop series held in Telugu and other languages with pertinent information to help businesses scale.
Currently, Kinara Capital has 27 branches across the two states with nearly 300 field employees in this region and extends omnichannel support to customers via tollfree calling, missed call facility, chatbot, email, etc.
The ambitious growth plan will be complemented by the number of employees available in the field providing doorstep customer service in local languages. Kinara Capital also plans on hiring about 150 people in FY24 to strengthen its customer service in this region.
Kinara Capital is a fast-growing fintech company and is globally recognized for disrupting the small business lending model in India by democratizing access to collateral-free business credit in India.
Kinara Capital has disbursed over Rs.5,000+ crores to date across 90,000+ collateral-free business loans thereby propelling vast financial inclusion of India’s MSME sector.
Led by Founder & CEO Hardika Shah, Kinara Capital sets itself apart with a blended model combining the best of technology with the best of personalized customer service.
Founded in 2011, BSE-listed Kinara Capital has 125 branches serving MSMEs across 100+ cities in India with a workforce of 1,600+ employees. Fiinews.com
