Swarna Pragathi Housing Micro Finance

Swarna Pragati Housing Microfinance Pvt. Ltd. (SPHM) is a Housing Finance Company regulated by the National Housing Bank. SPHM provides micro-mortgage loans ranging from Rs 1,00,000 to Rs 7,00,000 primarily to families from the economically weaker sections and low-income groups in rural India. The housing loans are provided for self-built new construction as well as for renovation, repairs, and up-gradation of existing houses. The company's business model is based on the principle of incremental housing, where low-income families build their houses one step at a time. India has a huge unfulfilled rural housing finance demand with little institutional penetration. Swarna Pragati fills this void by extending its home loan product in this segment, utilizing its own internal credit assessment parameters to mitigate risks.