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To mark the fifth anniversary of the HerVikas program for women entrepreneurs, fintech company Kinara Capital has launched a new fund worth Rs 50 billion with increased benefits.
The program aims to empower more women-owned MSME startups by giving them early access to formal credit.
“We are inspired by HerVikas customers who collectively break glass ceilings every year, and this is the fifth year of this program,” said Hardika Shah, Founder and CEO of Kinara Capital. We are now proudly committing our largest allocation.” 500 crores so far in FY25 and introduced new benefits aimed at supporting the growth of more women-owned MSME start-ups. ”
HerVikas claims that eligible women business owners will automatically be granted a 60-day repayment holiday, a 1% discount on interest rates on unsecured business loans, and a 50% reduction in loan processing costs.
Apart from providing unbiased credit decisions through the AI/ML-driven myKinara app, HerVikas will also provide support to recently registered MSMEs in the manufacturing and trade sector within one month of company registration, provided they meet the requirements. Entrepreneurs will also have access.
HerVikas enables more women entrepreneurs to pursue their company goals at a lower price and without worrying about rapid loan repayments.
Kinara Capital claims to have employed over 2,000 people since its inception and operates 133 branches to support MSMEs in over 100 cities in India.
To date, the company has provided over Rs 700 crore in unsecured corporate loans through its HerVikas programme. The additional Rs 500 crore will enable HerVikas to disburse over Rs 1,200 crore by FY25.
