Swarna Pragati Housing Microfinance Pvt. Ltd. (SPHM) is a Housing Finance Company incorporated in the year 2009 and registered with National Housing Bank (NH B). It was conceptualized and founded by Mr. A.Ramesh Kumar and originally started by him and he is the Principal Promoter of the Company. The Company has attracted investments from Aavishkaar Goodwell, Zephyr Peacock and Omidyar Network, three reputed International Funds and other marquee Domestic Investors in 2015-16. Swarna Pragati is recognized as the pioneer in Housing Microfinance not only in India but even globally. SPHM was set up with the objective of providing housing finance to a segment (rural India) that has hitherto remained unserved by conventional housing finance institutions and will probably remain so for another generation. The idea was to create innovations in housing finance and mortgage systems to overcome the handicaps that impede the flow of credit to this segment. SPHM's Housing Microfinance product is filling the void created by the limitations of traditional housing finance and building on the lessons of the recent microfinance revolution. The housing loans are provided both for self-built new construction as well as for renovation, repairs and up gradation of existing houses. The unique model leverages the grassroots community institutions to evolve simple, flexible cost effective and foolproof mechanisms for delivery of sustainable housing finance to this segment. The company's business model is based on the principle of Multi cycle Incremental Housing Finance, where low-income families build their houses one step at a time and are financed for each module and cycle of construction. The company has also developed a unique system for paralegal documentation to provide access to housing finance to families without a clear title to their property.