Kinara allocates Rs 400 crore more for women founders

BENGALURU: Kinara Capital is allocating an additional Rs 400 crore in the 2023-24 financial year for discounted business loans to women entrepreneurs through its HerVikas programme. The latest allocation brings the total commitment to Rs 700 crore to drive financial inclusion of women entrepreneurs from the micro-small-medium enterprise (MSME) sector.
Hardika Shah, founder & CEO of Kinara Capital, said, “With approximately Rs 100 crore disbursed each year, we are now doubling down and pledging Rs 400 crore disbursement in FY24 solely for MSME women entrepreneurs.This will lead to 10,000 HerVikas discounted business loans by next year. ”
Kinara Capital said that since the programme was initiated in the 2020 financial year, the impact of the HerVikas business loans has led to over Rs 125 crore in incremental income generation for the women entrepreneurs and over 32,680 jobs supported in local economies. About 70% of the jobs created are from MSME sub-sectors of food products, textiles and fashion/clothing.