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.)