Sunita (left) and Mohit Sahney
Image: Mayur Tekchandani for Forbes India
Kesar Lal Jangid is at his furniture-manufacturing shop, Pooja Furniture, along Sambhariya Road in the heritage town of Kanota, about an hour from Jaipur in Rajasthan, waiting for some machinery to be delivered. Business activity has just started to pick up for this micro-entrepreneur after a slump in demand for housing and construction activity due to the second wave of Covid in early April.
Jangid, 38, has taken a loan of ₹6.4 lakh from Finova Capital—a Jaipur-headquartered non-banking financial company (NBFC) founded by banker-turned-entrepreneur Mohit Sahney and his wife Sunita—which focuses on lending to micro, small and medium enterprises (MSMEs). People like Jangid are new to credit and do not have a formal credit score for large banks to be comfortable for them to lend to. Finova offers MSME (micro-business) and mortgage loans.
(This story appears in the 24 September, 2021 issue of Forbes India. To visit our Archives, click here.)