In commemoration of the 5th anniversary of its HerVikas program, Kinara Capital, a leading fintech company, has announced the launch of a new Rs 500 crore fund. This initiative aims to further empower women entrepreneurs
in India’s MSME sector, providing them with increased access to formal credit and catalytic capital.The expanded benefits of the HerVikas program are designed to incentivize more women-owned MSME startups to avail themselves of early credit access.
Qualifying entrepreneurs will automatically receive a one percent interest rate discount on collateral-free business loans, along with a 60-day repayment holiday and a 50% reduction in loan processing fees.
Moreover, the myKinara App, powered by AI/ML technology, ensures bias-free credit decisioning. Additionally, HerVikas will now extend its support to newly-registered MSME startups in the manufacturing and trading sectors, qualifying within one month of business registration.
The overarching goal of HerVikas is to empower women entrepreneurs to pursue their business goals with reduced costs and alleviated loan repayment concerns. Hardika Shah, Founder & CEO of Kinara Capital, expressed her enthusiasm,
stating, “Every year, we are inspired by our HerVikas customers who are collectively breaking the glass ceiling.” She further added, “Now, in the 5th year of this program, we are proudly committing our largest allocation to date of Rs 500 crore in FY25.”
Since its inception, Kinara Capital has disbursed over Rs 700 crore under the HerVikas program in collateral-free business loans. With the additional allocation of Rs 500 crore, HerVikas disbursements are projected to exceed Rs 1,200 crore by FY25.
Since its launch, the HerVikas program has provided support to 5,800 women MSME entrepreneurs across 100 plus cities in India. This initiative signifies Kinara Capital’s commitment to fostering gender equality and economic empowerment through accessible financial solutions for women entrepreneurs.
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