From credit strategy to capital access: how Manish Jain is building financial pathways for India’s growth businesses

India’s economic growth is often discussed through the lens of startups and large corporations. Yet the backbone of the country’s economy is still its MMOs and mid-market businesses. These businesses contribute significantly to employment, industrial output and exports. However, one challenge still limits their growth potential: access to structured and affordable capital.

For many companies, the problem is not a lack of opportunity. The real challenge is the gap between being financially strong and being recognized as financially strong.

This gap is exactly what Manish Jain wanted to address.

“I kept seeing the same pattern,” Jain recalls. “Companies with solid fundamentals, real income and good management couldn’t get the credit rating they deserved. Not because they weren’t creditworthy, but because they didn’t know how to present their story.”

Larger corporations typically have structured finance teams that manage interactions with lenders and rating agencies. However, for smaller and mid-sized businesses, limited internal resources often make this process more challenging. A lower rating can lead to higher borrowing costs or reduced access to institutional capital.

The focus was not on changing financial fundamentals, but on improving clarity, documentation and strategic positioning. Over time, this effort evolved into two separate ventures: FinMen Advisors, which focuses on credit rating and IPO advisory, and Dhansarthi NBFC, a lending institution serving individuals, professionals and MSMEs.

Together, these entities function in advisory and financing roles within India’s broader financial ecosystem.

This observation formed the basis for FinMen Adviseurs.

According to company data, FinMen Advisors has conducted more than 21,000 initial assessments and completed more than 6,500 assignments. It operates through 13 branches across India with a team of over 80 professionals and reports a customer satisfaction rate of over 90 percent.

These figures indicate the extent of its operations across industries and regions.

“People think it’s just a score. It’s not. It’s a conversation about your whole business, your management, your cash flow discipline and how you manage risk.”

FinMen’s approach involves working with management teams to review financial statements, management practices and operational risks. The aim is to ensure that businesses understand how different aspects of their operations are evaluated.

“Clarity beats complexity. Cash flow is king. Compliance builds credibility. Adaptability ensures survival.”

These principles guide the advice process and reflect generally recognized factors in credit evaluation.

However, ratings depend on several variables, including business models, operating risks, capital structure, financial planning and rating agency methodologies.

To provide structure to this process, FinMen applies what it calls the PPP approach: Prepare, Position and Protect.

The IPO advisory practice supports readiness assessments, management alignment, financial restructuring, documentation and coordination with market intermediaries. This expansion enables the firm to support clients pursuing both debt and equity capital strategies.

He also leads a video knowledge series covering rating methodologies, surveillance processes and upgrade strategies. These initiatives are intended to improve financial literacy among promoters and financial leaders.

Dhansarthi’s offerings include MSME loans, skill development financing, insurance premium financing and healthcare financing.

“We helped businesses become creditworthy, but we couldn’t lend to them. Now we can offer structured financing ourselves,” explains Jain.

While FinMen focuses on advisory services, Dhansarthi operates as a regulated lending entity.

Together they engage with businesses at different stages of their capital journeys.

Jain summarizes the broader goal as follows:

“If a small manufacturer in Surat or Ludhiana can walk into a bank with confidence because they understand their numbers, that’s what we’re here for.”

The broader goal, as described by Jain, is to improve financial clarity and structured access to capital for growth-oriented businesses. Through advisory and lending initiatives, the focus remains on strengthening financial preparedness and expanding access within India’s evolving credit landscape.

Note to Readers: This article is part of HT’s paid consumer engagement initiative and is independently created by the brand. HT assumes no editorial responsibility for the content, including its accuracy, completeness or any errors or omissions. Readers are advised to independently verify all information.

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