The Micro Housing Finance Corporation (MHFC), an India-based housing finance company established in 2008, has reported to MicroCapital that it has reached INR 250 million (USD 5.54 million) in loan sanctions. In addition, MHFC has developed an integrated management information system to assist in identifying customers and assessing their credit worthiness. As of March 2010, MHFC has total funds of INR 140 million (USD 3.1 million) and total share capital of INR 117 million (USD 2.59 million).
By Jacqueline Foelster, Research Associate
About Micro Housing Finance Corporation (MHFC): Founded in May 2008, MHFC is an India-based housing finance company. Its objective is to provide housing finance in urban India for lower income households, mostly those headed by workers in the informal sector. As of March 2011, MHFC has crossed INR 250 million (USD 5.54 million) in loan sanctions, which are given for a maximum period of 15 years with a prime lending rate (PLR) of 12 percent. As of March 2010, MHFC has total funds of INR 140 million (USD 3.1 million) and total share capital of INR 117 million (USD 2.59 million).
Sources and Additional Resources:
[1] Data provided by MHFC to MicroCapital, March 2011
MicroCapital.org Brief, November 5, 2010, “Micro Housing Finance Corporation (MHFC), Tata Housing Partner to Launch Shubh Griha Housing Project for Lower Income Families Including Microfinance Clients Near Mumbai, India”, https://www.microcapital.org/microcapital-brief-micro-housing-finance-commission-mhfc-tata-housing-partner-to-launch-shubh-griha-housing-project-for-lower-income-families-including-microfinance-clients-near-mumbai-india/
MicroCapital.org Brief, September 20, 2010, “Micro Housing Finance Corporation (MHFC) of India Achieves $2.16m in Loan Sanctions”, https://www.microcapital.org/microcapital-brief-micro-housing-finance-corporation-mhfc-of-india-achieves-2-16m-in-loan-sanctions/
MicroCapital Universe Profile: Micro Housing Finance Corporation (MHFC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Micro+Housing+Finance+Corporation
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