Non-bank lender Kinara Capital secures $10 mn from IndusInd Bank

Small businesses-focused non-banking lender Kinara Capital has secured USD 10 million from IndusInd Bank with 100 per cent guarantee from the US International Development Finance Corporation. The Bengaluru-based NBFC, which has so far disbursed Rs 2,000 crore collateral-free small business loans to over to over 56,000 customers since inception, said it will use the money for on-lending to small businesses over the next five years.