The app makes the digital process used by field officers directly accessible to MSMEs in India. It is available 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.
“With the proliferation of smartphones, MSMEs are ready and willing to participate in digital India, but there are limited solutions for them. Our vernacular app extends our financial inclusion commitment by enabling small businesses and entrepreneurs to create a self-directed loan application journey,” said Hardika Shah, Founder and CEO, Kinara Capital, in a statement.
Small businesses can check their eligibility 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 process with an e-sign option.
With this app, SMEs can choose to complete the process in their own time. They can contact Kinara’s customer call center directly or request for doorstep customer service if they need in-person support. Kinara’s network of 110 branches will continue to help local MSMEs and follow the same digital process as available on the app.
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