Kinara Capital Marks 5th Anniversary of HerVikas with Rs 500 Crore Fund
- ByStartupStory | March 9, 2024
Kinara Capital, a fintech firm, celebrates the fifth anniversary of its HerVikas program for women entrepreneurs by announcing a new Rs 500 crore fund and expanded benefits. The program aims to empower women-owned MSME startups by providing them with early access to formal credit. “Every year, we are inspired by our own HerVikas customers who are collectively breaking the glass ceiling,” said Hardika Shah, Founder & CEO of Kinara Capital.
Under HerVikas, qualifying women entrepreneurs will receive various benefits, including a one percent interest rate discount on collateral-free business loans, a 60-day repayment holiday, and a 50% reduction in loan processing fees. Additionally, bias-free credit decisioning powered by AI/ML through the myKinara App ensures fair treatment. “And, now in the 5th year of this programme, we are proudly committing our largest allocation to date of Rs 500 crore in FY25 and introducing new benefits aimed at empowering more women-owned MSME startups to thrive,” Shah added.
The program will also extend its support to newly-registered MSME startups in the manufacturing and trading sectors, allowing them to qualify within one month of business registration. HerVikas aims to lower costs and alleviate immediate loan repayment concerns for women entrepreneurs, enabling them to pursue their business goals with confidence.
Since its inception, Kinara Capital has disbursed over Rs 700 crore under the HerVikas program in collateral-free business loans, supporting 5,800 women MSME entrepreneurs across 100 plus cities in India. With the additional allocation of Rs 500 crore, HerVikas disbursements are projected to exceed Rs 1,200 crore by FY25.
Follow Startup Story
Related Posts
