Protium’s Machinery Loan Fuels Selten Aerospace’s Survival and Growth by 1000%.
Overview
- Company name: Selten Aerospace
- Business owner names: Priyanka N J
- Location: Bangalore, Karnataka
- Sector: Manufacturing
- Industry: Aerospace & Automobile Component Manufacturing
- Initial Investment: Self-funded
- Protium Customer Since: 2024
Background
Selten Aerospace, founded in 2022, specializes in the manufacturing of cable connectors for aerospace and automobile industries.
Despite a steady stream of repeat business, Selten Aerospace faced a critical challenge: their 45–60-day debtor cycle hindered their ability to finance the machinery needed for expansion. Essentially, while demand was strong, the delay in receiving payments from clients constrained their working capital.
Business History and Expansion
Founded by Priyanka N J and her husband Rakesh B N, Selten Aerospace was established the company operated with 6 employees to begin with and over time grew its time size to 15 employees.
As demand for Selten Aerospace’s products grew rapidly, the need for new machinery to increase their overall production capacity became necessary. However, securing funding for this investment proved to be a major challenge due to 45-60 days debtor cycle. The company overcame this hurdle with financial support from Protium and was able to fulfil new orders. This ultimately helped the company’s turnover to surge from ₹10 lakhs to ₹1.2 crore, demonstrating remarkable acceleration in business growth annually. Monthly sales increased by three-fold within 4 to5 months of securing Protium’s loan; relieving them from operational stress.
| Challenges | Solutions | Result |
| Delayed payments causing cashflow challenges | With Protium’s ₹26 lakh loan, they overcame this obstacle | Successfully fulfilled new orders. Increased the turnover from ₹10 lakhs to ₹1.2 crore annually |
| Insufficient Production Capacity to Meet Demand | N | Boost in the value of contracts from ₹5-6L to ₹12-30L and enabling larger contracts. |
| Limited manpower hindering growth | Protium’s loan helped in hiring more manpower | Enhanced production efficiency with workforce expansion from 6 to 15. |
Quote from the Founder
“We found the loan process with Protium incredibly easy and comfortable, especially due to their transparent policies. It was a great support during tough times, and the clarity provided throughout the process eliminated any unnecessary hassle. There was no bias, and we felt valued as customers. This positive experience is why we’re happy to continue working with Protium for our future financial needs.”