Kinara Capital, a fast-growing fintech driving MSME financial inclusion, announced committing to INR 1,100+ crores disbursements in FY24 for Business Loans for MSMEs in the urban and the peri-urban regions of Tamil Nadu and Union Territory of Puducherry. With a combination of technology driven process and doorstep customer service, Kinara Capital provides fast service to the micro-small-medium enterprise (MSME) sector.
Mr.Thirunavukkarasu R, Chief Operating Officer (COO), Kinara Capital, said
“Kinara Capital is proud to support the hardworking MSME business owners in Tamil Nadu and Puducherry who contribute immensely to economic growth of the nation. With a renewed commitment of INR 1,100 crores to MSMEs this financial year, we are realizing the aspirations of thousands of MSME entrepreneurs across the state, all the way from Chennai toKanyakumari!”
Since Kinara Capital began its operations in Tamil Nadu in 2012, the company has disbursed INR 1,960 crores over 33,000 business loans. Women-owned MSMEs receive an upfront automatic discount on business loans with Kinara’s HerVikas program. To date, Kinara Capital has disbursed over INR 226 crores across 2,140 HerVikas business loans to women entrepreneurs in Tamil Nadu.
Recently, Kinara Capital opened 3 new branches in Aranthangi, Thiruvanmiyur, and Veerapandi regions bringing the company’s total number of branches to 39 in Tamil Nadu.
The direct cumulative impact of Kinara Capital providing access to formal business credit in Tamil Nadu and Puducherry has led to over INR 139 crores in incremental income generation for the MSME business entrepreneurs and more than 30,229 new jobs created in the local economies. Additionally, Kinara Capital offers a free Grow With Kinara workshop series, held in Tamil and other languages, to help MSMEs digitize and expand their businesses.