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Kinara Capital Marks 5th Anniversary of HerVikas with New Allocation of INR 500 Crores Fund & Expanded Benefits Aimed to Empower More Women-owned MSME Startups | ||
Bengaluru, Karnataka, India
Kinara Capital, India’s fast-growing fintech driving MSME financial inclusion, today announced a new INR 500 crores fund and expanded benefits to mark the 5th year anniversary of its HerVikas program for women entrepreneurs. The new benefits aim to encourage more women-owned MSME startups to experience the gains of early access to formal credit by providing them with catalytic capital.
HerVikas program drives vast financial inclusion of women entrepreneurs leading to improved income generation and new job creation
HerVikas will automatically provide qualifying women entrepreneurs with 1% interest rate discount on collateral-free business loans, a 60-day repayment holiday, and a 50% reduction in loan processing fees. In addition to providing bias-free credit decisioning with AI/ML powered myKinara App, HerVikas will also be extended to newly registered MSME startups in the Manufacturing and Trading sectors who may qualify within one month of its business registration. HerVikas is aimed at empowering more women entrepreneurs to pursue establishing their business goals with lowered costs and without immediate loan repayment concerns.
Hardika Shah, Founder & CEO, Kinara Capital, said, “Every year, we are inspired by our own HerVikas customers who are collectively breaking the glass ceiling. And, now in the 5th year of this program, we are proudly committing our largest allocation to date of INR 500 crores in FY25 and introducing new benefits aimed at empowering more women-owned MSME startups to thrive. By easing access to credit, and enhancing it further with reduced charges and delayed repayment, we are confident that the HerVikas program will empower even more women entrepreneurs to strengthen their business growth.” Since the rollout of the HerVikas program, it has been a transformational force supporting 5,800 women MSME entrepreneurs across 100+ cities in India. The further impact of HerVikas program has led to over 31,000+ jobs supported in local economies, of which over 5,500+ are new jobs created by women entrepreneurs. Overall, the support through HerVikas has led to a cumulative post-loan net income generation of around INR 187 crores with women entrepreneurs experiencing an average of 16% increase in their proprietor salary from their businesses.
About Kinara Capital Kinara Capital is a fast-growing fintech company dedicated to financial inclusion of small business entrepreneurs in India. Kinara Capital has disbursed over INR 6,500 crores to date across 1 lakh collateral-free business loans, thereby propelling vast financial inclusion within India’s MSME sector. Kinara’s visionary Founder & CEO Hardika Shah leads with a women-majority management team and has raised the bar for gender inclusivity with its HerVikas program for women entrepreneurs. The company is qualified as a Systemically Important NBFC by the Reserve Bank of India (RBI) and is a debt-listed entity on the Bombay Stock Exchange (BSE). Founded in 2011, and headquartered in Bengaluru, Kinara Capital has 133 branches serving MSMEs across 100+ cities in India with a workforce of 2,000+ employees.
Visit kinaracapital.com for more information and follow us on LinkedIn.
This press release may contain projections and other forward-looking statements regarding future events or future financial performance. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. Given business risks and uncertainties, undue reliance on these forward-looking statements should not be placed. Actual events or results may differ materially from those contained in the projections or forward-looking statements. |
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