Customer name :
Mr. Satyanarayana Korra
Mr. Satyanarayana Korra of Vijayawada first came to know about Shriram City’s (Shriram City) SME loans from an acquaintance of his. The owner of a furniture manufacturing unit, Mr. Korra was on the lookout for a financing option that would meet the working capital requirements of his business and Shriram City fit the bill perfectly. So well in fact, that he is on his second loan from Shriram City.
As a manufacturer, he buys wood locally and supplies finished furniture like beds, dewans, and dining tables to various furniture showrooms. Mr. Korra has been in the furniture business for a decade, and he used to depend on local moneylenders and personal contacts for the financial needs of his business. The high cost involved meant that profits also went toward debt repayment. The extensive processing time and requirements, coupled with his limited knowledge prevented Mr. Korra from approaching banks for a loan.
Shriram City provided the answer he had been looking for and gave him loans that were speedily processed with minimal documentation. Now with the support of Shriram City’s loan, he is able meet his unit’s working capital needs and invest the surplus in business expansion plans. As a thoroughly satisfied customer of Shriram City, Mr. Korra ensured that his cousin, also a business owner, took an SME loan from Shriram City when the need arose. The future looks bright for Mr. Korra and his young family, and he is sure that he will turn only to Shriram City for his future financial needs.