Kinara Capital, a fintech company, has announced a new Rs 500 crore 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 will automatically provide qualifying women entrepreneurs with one percent 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.
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HerVikas is aimed at empowering more women entrepreneurs to pursue establishing their business goals with lowered costs and without immediate loan repayment concerns.
“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 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,” said Hardika Shah, Founder & CEO, Kinara Capital.
Kinara Capital has disbursed over Rs 700 crore to date under the HerVikas programme in collateral-free business loans. With the additional allocation of Rs 500 crore, HerVikas disbursements will exceed Rs 1,200 crore by FY25.
Since the rollout of the HerVikas program, it has been supporting 5,800 women MSME entrepreneurs across 100 plus cities in India.
