Kinara Capital Launches myKinara Mobile App for MSME Collateral-free L…

Kinara Capital Launches myKinara Mobile App for MSME Collateral-free Loans

Kinara Capital, a fast-growing fintech, recently launched myKinara mobile app that comes with a simple 3-step course of action and is a first-of-its-kind in the unsecured MSME business lending space. myKinara app, now live on the Google Play Store, puts the strength at the fingertips of small business entrepreneurs to securely apply and receive collateral-free business loans digitally within 24-hours turnaround time (TAT).

 

Kinara Capital launches myKinara App

 

Leveraging years of Kinara’s proprietary data-pushed AI/ML-based credit decisioning, the myKinara app now makes the digital course of action used by field officers directly easy to reach to MSMEs in India. The myKinara app is obtainable in multiple languages including, English, Tamil, Hindi, Telugu, Kannada, Marathi and Gujarati. Women-owned MSMEs qualify for an automatic discount under the company’s HerVikas programme, without requiring any separate application.

 

Video link: www.youtube.com/watch?v=b4qifjrr6w4

 

“With the proliferation of smartphones, MSMEs are ready and willing to participate in digital India, but there are limited solutions for them. Our vernacular myKinara app extends our financial inclusion commitment by enabling small business entrepreneurs to create a self-directed loan application journey. Fast decisioning, processing, and disbursements in a span of 24 hours goes a long way in meeting the demands of our customers, thereby supporting their business growth,” said Hardika Shah, Founder and CEO, Kinara Capital.

 

Small business entrepreneurs can check their eligibility in under 1-minute without any document uploads in the first step. By completing KYC and income verification in the app directly, the applicant will receive a loan decision with details of the approved loan amount, interest rate, loan tenor and the approximate Monthly EMI. They can then continue the loan disbursement course of action with an e-sign option.

 

With the myKinara app, small business entrepreneurs can choose to complete the time of action in their own time with help always just a click away. They can contact Kinara’s multilingual customer call center directly from the app, or request for doorstep customer service if they need in-person sustain. Kinara’s great network of 110 branches will continue to help local MSMEs and follow the same digital course of action as obtainable on the myKinara app.

 

About Kinara Capital

Kinara Capital is a fast-growing fintech propelling financial inclusion of small business entrepreneurs in India. Boasting a women-majority management team, Kinara Capital has set itself apart in the industry with its emphasis on social impact and profitable growth. Globally recognized for its inventive approach, Kinara earned the ‘Bank of the Year-Asia’ award by the IFC, is ranked among the ‘Top 100 High-Growth Companies in Asia-Pacific’ by the Financial Times and is named among ‘India’s Growth Champions’ by the Economic Times. Kinara Capital is qualified as a Systemically Important NBFC by the save Bank of India and is a debt listed entity on the Bombay Stock Exchange (BSE). established in 2011, Kinara Capital has made a mark with its innovation in financial inclusion  by providing fast and flexible collateral-free loans in the range of INR 1-30 lakhs across 300+ MSME sub-sectors serving 3000+ pincodes in India. Headquartered in Bangalore, Kinara Capital has 110 branches across 90+ cities in India. Click here for more information kinaracapital.com and follow us on Twitter @KinaraCapital. Download the myKinara app on the Google Play Store.

 

This press release may contain projections and other forward-looking statements regarding future events or future financial performance. These statements are only predictions and mirror our current beliefs and expectations with respect to future events and are based on assumptions and unprotected to risk and uncertainties and unprotected to change at any time. Given business risks and uncertainties, undue reliance on these forward-looking statements should not be placed. Actual events or results may differ materially from those contained in the projections or forward-looking statements.

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