Shah's Kinara Capital works on financial inclusion and has led to an incremental income generation of Rs 700 crore for small business entrepreneurs, and led to more than 250,000 jobs created or sustained
Hardika Shah, founder and CEO, Kinara Capital
Image: Selvaprakash Lakshmanan for Forbes India
In 2014, Iswarya and Mohan Babu set up Mukund Automats, an automobile parts manufacturing business, but the first-generation entrepreneurs struggled to run it without a loan. The Bengaluru-based couple poured in their savings into buying some machines and hiring three workers. After struggling for a few years, they came across Kinara Capital, a fintech non-banking financial company (NBFC).
In January 2016, they secured a loan of ₹7.25 lakh from Kinara Capital. “After that, we grew and grew. We now employ 50 people. Our monthly turnover is ₹30 to 40 lakh,” says Iswarya. When the business expanded suddenly, they needed some more capital. Mohan adds, “Even with a running loan, Kinara Capital was willing to provide us with a second loan.”
(This story appears in the 03 December, 2021 issue of Forbes India. To visit our Archives, click here.)