Loan Amount: ₹92.5 Millions
Type of Loan: Working Capital Business Loan
Location: Hyderabad, Telangana
Disbursed On: October 2022
Venkata Krishna Spinners
Red Fort Capital provides ₹92.5 million in business loans to cotton mill Venkata Krishna Spinners within five days.
Venkata Krishna Spinners is a 26-year-old public unlisted company with a fully automated 16000 spindle cotton mill located in Hyderabad, Telangana. The loan will assist the company in securing raw material contracts at a fixed price for its cotton mill, helping to improve margins that were affected by the sharp increase in cotton prices throughout FY22.
Red Fort Capital’s quick business loan for working capital is a cheaper alternative to costly trade credit and can directly improve margins by at least 3-5%. In addition to improving margins, this loan will enable Venkata Krishna Spinners to meet an unanticipated surge in product demand, open up the possibility of taking up new contracts, improve supplier relations and provide additional services to its portfolio of clients.