The expected impact of the partnership between IIX and Kinara Capital will generate an incremental income of INR 320 crores for women entrepreneurs.
Kinara Capital’s HerVikas discounted loan program for women-owned MSMEs is available in 90+ cities. The HerVikas program by Kinara Capital enables ‘her progress’ with an automatic upfront discount of 1% on interest costs on fast, collateral-free business loans in the range of INR 1 lakh to 30 lakhs.
Kinara is effectively addressing the inequitable credit gap and related systemic issues by providing access to formal credit, industry knowledge, and personalized customer service to women entrepreneurs.
Hardika Shah, Founder & CEO, Kinara Capital said, “The investment brings fresh impetus to the need of financial inclusion of women entrepreneurs. Empowering women has a strong impact on improving the quality of life for families and achieving gender parity can add 27% to India’s GDP.”
IIX’s CEO and Founder, Professor Durreen Shahnaz, said, “IIX’s Women’s Livelihood Bond Series is doing what no one else dares to do – valuing women and making them a part of the global financial system. But we’re not stopping there. We’re going to keep pushing the boundaries by continuing to expand the Women’s Livelihood Bond Series so that we create truly systemic change that will outlast any pandemic.