MSME Lending News: Kinara Capital launches collateral-free short-term loan for MSMEs

BANGALORE: Kinara Capital has introduced a short-term working capital loan option for its current MSME clients. Available in the range of Rs 50,000 to Rs 2 lakh with fast turnaround time (TAT) and low processing fees, the loan will have a tenor of 6-12 months to give MSMEs the opportunity to meet needs sudden trades.

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 lending option to manage sudden business expenses, Kinara Capital gives MSMEs the leverage that can instantly dictate their turnover,” said Hardika Shah, Founder and CEO of Kinara Capital, in a statement. communicated.

Accessible through the vernacular myKinara app, the loan aims to support the fast-growing business needs of MSMEs. 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 Rs 1000 crore. Serving over 300 MSME sub-sectors, Kinara Capital offers collateral-free MSME loans in 3000 PINs.

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