The rapidly growing fintech company leading the MSME financial inclusion, Kinara Capital announced disbursements in FY24 of more than Rs. 1,100 crores. The business loans will be provided to the urban and semi-urban regions of Tamil Nadu and the Union Territory of Puducherry. Kinara Capital aims to provide faster services with a combination of technology and doorstep customer services to the MSME, micro small medium enterprises sectors.
The business owners of MSMEs can easily start their loan processes using the company's application on their smartphones.
The Chief Operating Officer (COO) of Kinara Capital, Thirunavukkarasu R stated that the company is proud that it could support the hardworking MSME business owners of Tamil Nadu and Puducherry. More than 656 crores have disbursed by the company in FY23 which is 130 per cent higher than FY22. The aspirations of thousands of MSME entrepreneurs will be fulfilled with this commitment.
The company Kinara Capital started functioning in 2012 from Tamil Nadu and so far it has disbursed INR 1,960 crores over 33,000 business loans. With the HerVikas program, female-owned MSMEs receive a good discount. Women Entrepreneurs of Tamil Nadu have received 2,140 HerVikas business loans of over INR 226 crores.
Three new branches have been inaugurated by the Kinara Capital in Thiruvanmiyur, Aranthangi, and Veerapandi region's establishing a total of 39 branches all over Tamil Nadu with 1,700 pin codes. During FY24, the company plans to hire 120 new branch employees along with the current 396 employees to accelerate its customer services.
