Fintech Kinara Capital has launched the myKinara mobile app to provide unsecured loans to the MSME sector. The app comes with a 3-step process and is available on the Google Play Store, according to a PTI report. The myKinara app is available in multiple languages including English, Tamil, Hindi, Telugu, Kannada, Marathi, and Gujarati.
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Small businesses and entrepreneurs will be able to apply and receive digital security-free business loans within 24 hour turnaround time (TAT), the report said.
Female-owned MSMEs are eligible for an automatic discount under the company’s HerVikas program without the need for a separate application.
Fast decisions, edits and withdrawals within 24 hours go a long way in meeting our clients’ needs and supporting their business growth, said Hardika Shah, founder and chief executive officer (CEO) of Kinara Capital.
Small business owners can check their eligibility in less than 1 minute without having to upload documents in the first step. The company claims it has a network of 110 branches that will continue to help local MSMEs and will follow the same digital process available on the myKinara app. Kinara Capital has 110 branches in over 90 cities in India.