Kinara Customer Success Story - Sigma CNC Product

Kinara Capital, founded by Hardika Shah, CEO with an aim to empower and create financial inclusion in the MSME sector. The company in the 11 years of MSME lending has been able to disburse 75000+ business loans worth INR 3000+ crores till date. Since the company came into existence, there have been customers who were associated with Kinara Capital and this has led to an incremental income generation of INR 700 crores for the small business owners, and more than 250,000 jobs created or sustained. One such customer is R Ramesh Kumar, owner of Sigma CNC Product who has been in business with Kinara Capital since 2011.

Learn more about Kinara Capital - https://www.kinaracapital.com/

Introduction - Sigma CNC Product
Ramesh started his career in 2001 working with a small automobile company. Then he decided to start his own business and generate employment, that is when he started Sigma CNC Product in 2004. Initially they started doing labour jobs with a set-up of one machine in Rajeshwari Layout in Hosur, a little later they took a step forward to start sales as well.

With the initiation of the sales part, their company started facing financial crisis, they kept struggling until 2010 and Sigma somehow managed to keep the business afloat throughout the crisis. It was in 2011 when Thiru R, COO at Kinara Capital approached him. Ramesh describes his business as two sessions, one before Kinara and the other after Kinara.

Problem Statement
Sigma CNC was moving at a good pace until they decided to enter the sales market, this is where their financial difficulties started. They worked hard to meet the ends but could not push their financial crisis till 2010, though they were still standing in the market with their business.

Ramesh approached many nationalised banks for funds where the process takes minimum 30-45 days for the process to start. However, in the automotive component manufacturing industry the customer expects to get a sample in a week's time and they have to move out the products in 10 days. The timelines to manufacture and deliver did not match with the bank's time.

Solution offered by Kinara Capital
In 2011, Kinara Capital was a fledgling NBFC setting up a process to provide access to formal credit to MSME business proprietor in India. Thiru R, COO at Kinara Capital approached Ramesh and explained to him the process, Sigma received its first loan worth INR 3 lakhs in no time.

Get Collateral-free MSME Loans - https://www.kinaracapital.com/regional-loan/msme-loans/

Impact of Solution Offered by Kinara Capital
Since their first loan in 2011 Sigma CNC Product has been associated with Kinara and has earned huge profits. Ramesh says with a INR 3 lakhs loan they have been highly benefited and have grown 30x in the past years, Ramesh is grateful to Kinara for his growth, also shows his appreciation by adding that only Kinara is capable to disburse the loan in just 1 day which is highly needed by the industries like his, where the product delivery is expected in 10 days' time.

Ramesh informs, there are 45 suppliers depending on his company who also have been growing since they shook hands with Kinara. He also talks about his sister venture, where Kinara was an important catalyst for their growth. Ramesh shared, small scale industries know their work well and are great at it but they lack funding, which causes hindrance in their growth but organisations such as Kinara Capital have become a huge blessing to the MSME sector for business growth. Quick and easy collateral free loans is a great advantage for the small business owners.

With 11 years of association of Sigma CNC Product with Kinara Capital, Sigma has grown its value from INR 3 lakhs to INR 2 crores. Ramesh exclaims, "As an small business proprietor, I am thankful to Kinara for supporting me when I needed it the most. Thank you, Kinara!"

Kinara Capital, an RBI registered Systemically Important NBFC and a growing fintech company, is on the path of empowering the small business owners. Kinara Capital provides collateral-free business loans to the MSME sector and is now available in 3000+ pincodes to help the small business owners.

To grow your business and get a loan, check your eligibility on the myKinara app available for download in the Google Play Store with 7 language options available, choose your preferred vernac and get benefited. Business loan is now just a missed call away, give a missed call on 080-68264454 and get contacted by our team for your queries. Go from decision to disbursement in just 24 hours with doorstep services by Kinara Capital.

Here's Sigma CNC's 10 Year Journey with Kinara Capital: https://www.youtube.com/watch?v=zyM8dMxP7_U

About Kinara Capital

Kinara Capital is a fast-growing fintech propelling financial inclusion of small business owners in India. Led by a women-majority management team, Kinara Capital is globally recognized for its innovations in MSME financial inclusion. Headquartered in Bengaluru, Kinara Capital operates 125 branches across 90+ cities in India. Visit us at www.kinaracapital.com for more information and follow us on Twitter @KinaraCapital

50, Second Floor, 100 Feet Road, HAL II Stage, Indiranagar, Bengaluru, Karnataka 560038
Contact Name: Sayantoni Das for Kinara Capital
Reach us at: pr@kinaracapital.com
Call us at: 9989334826

This release was published on openPR.