The world of manufacturing is defined by consistent orders coming in that are driven by seasonal demand, changing market trends, and the confidence of repeat customers. In such a scenario, timing becomes everything. For small and mid-sized manufacturers, to meet this ever-growing demand,  the ambition to grow and the will to procure capital at the right moment is crucial.

For Bengaluru-based manufacturer Balaji Super Spandex, this moment arrived in 2022. With Protium as the right financial partner by its side, the business didn’t just rise to the challenge; it soared.

From Self-Funded Startup to Certified Quality Leader:

The story of Balaji Super Spandex started in 2007 with Vivek Agarwal. What began as a self-funded venture quickly found its niche in the manufacturing of narrow woven elastics and labels; an essential but often overlooked component in garments, orthopedic products, electronics, and even automotive parts.

Over the years, Vivek’s unwavering focus on quality paid off. The company earned the prestigious Oeko-Tex Standard 100 certification and developed a loyal client base that kept coming back. As more customers placed repeat orders, Balaji’s reputation began to grow—and with it, so did ambitions.

But scaling a manufacturing business isn’t as simple as meeting demand. It requires newer machines, better technology, and a financial runway to make those investments.

Demand Outpaced Capacity:

By 2021, Balaji Super Spandex was experiencing what every small business owner both dreams of and dreads: rapid growth. The influx of orders signaled market validation, but also exposed the limitations of the company’s existing production capacity.

Clients demanded orders to be fulfilled in shorter timelines, and if these aren’t fulfilled, they could cost healthy buyer-supplier relationships.

Vivek knew he had to act fast. But traditional financing routes were anything but agile. Tedious paperwork, delayed approvals, and strict criteria kept timely funding at bay. Meanwhile, the threat of losing loyal customers kept growing.

Finding The Right Finance Partner In Protium:

That’s when Vivek turned to Protium Finance—a trusted RBI-regulated NBFC known for its tailored business loans. Unlike conventional lenders, Protium understood the nuances of manufacturing and saw potential in Balaji Super Spandex.

In 2022, their Machinery & Equipment Loan was approved with a competitive interest rate, simplified application process, and the support of a team that truly understood the urgency of the situation. What could’ve been weeks of waiting turned into a seamless disbursal experience, powered by Protium’s proprietary underwriting technology.

Impact: Increased Production Capacity by 50%

With this financial assistance in place, Vivek was able to  upgrade his machinery , and increase the company’s  production capacity by 50%. , This was achieved without compromising on timelines or quality. What was once a bottleneck became a competitive advantage—production cycles became faster, output rose significantly, and the business shifted from playing catch-up to leading the charge.

This operational leap also opened doors to higher-value contracts, ranging from Rs 12 to Rs 30 lakh, further cementing the company’s position as a trusted supplier across industries. And notably, all of this was achieved by conserving the company’s working capital, keeping its liquidity intact.

The outcome? Balaji Super Spandex nearly doubled its turnover in a short time, emerging as a stronger, more resilient business.

Vivek Agarwal, Founder, Balaji Super Spandex, adds, “In manufacturing, timely fulfilment of orders is crucial, and this sometimes leads to loss of customers. For us, this situation was handled with Protium’s financial support. Protium’s team genuinely understood our business needs and provided us with a Machinery loan. With this help, we got new machinery to fulfil our growing customer demands in time and increase our overall capacity by 50%.

Protium’s loan process was quite easy and had transparent pricing. That’s why we’ve come back to them more than once. For any MSME looking to grow, having a lender like Protium in your corner makes a big difference.”

Right Support Yielding Right Results:

Today, Balaji Super Spandex stands as a shining example of what Indian MSMEs can achieve with the right financial partner. From a bootstrapped operation in Bengaluru to a certified supplier across diverse sectors, the company’s journey reflects the grit of Indian entrepreneurship—and the catalytic role of accessible financing.

At the heart of this transformation lies trust. Trust in the process. Trust in the partnership. And trust in what a purpose-driven NBFC like Protium can deliver.