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ETSA 2024: Hardika Shah’s Kinara building a credit bridge for the MSMEs

Economic Times · 1m

- Hardika Shah founded Kinara Capital, a company that provides unsecured loans to micro, small, and medium enterprises (MSMEs) in India. - Kinara Capital aims to surpass $100 million in revenue this year and has a physical presence in over 100 cities. - The company operates in Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, and Gujarat, and plans to expand further in these areas. - Kinara focuses on deepening its reach in existing markets and forming strategic partnerships to serve more MSMEs. - It offers collateral-free business loans ranging from Rs 5,000 to Rs 30 lakh. - Kinara has supported over 82,000 MSMEs in sectors such as manufacturing, construction, and building materials. - The company achieved its ninth consecutive profitable year in fiscal 2024, with a net profit of Rs 62 crore. - Kinara uses technology to improve its underwriting process and customer support. - Kinara operates 133 branches with over 1,600 field staff, providing doorstep services and omnichannel customer support. - The company runs the HerVikas program, which supports women-led MSMEs with tailored financing solutions. - Kinara expects to surpass $1 billion in cumulative disbursements and advocates for MSMEs to benefit from green and WaSH financing. - The company has adjusted its business model to comply with increased regulatory scrutiny in India's digital lending sector.