According to the bank document, the project will support "SEWA Grih RinLimited (“SGRL”) to expand its housing portfolio for low-income women borrowers in India. SGRL is an Indian housing finance company licensed by the National Housing Bank. SGRL provides micro-housing loans to low-income women borrowers, primarily working in the informal economy. The average annual income of an SGRL borrower is $1,682 and the average loan size is $3,300. SGRL’s various loan products provide financing for home purchases, construction, and crucial improvements.
SGRL’s financing often supports crucial home improvement projects, such as the construction of a permanent roof or addition of a toilet, which make the difference between a substandard, informal dwelling and a safe and secure home. SGRL promotes financial inclusion by bringing financial services to those working in the informal economy. By insisting that the homes it finances be titled under the woman’s name or as a joint property, SGRL alsoadvances women’s empowerment in India by creating assets for its women borrowers. Since commencing operations in 2015, SGRL has reached over 5,000 borrowers, improving the living conditions of over 25,000 people. SGRL has experienced rapid growth, achieving a total portfolio size of $15,200,000 in November 2018, while maintaining a high-quality portfolio with a non-performing loan rate of less than 1%. SGRL currently operates 23 branches across six Indian states and employs 197 people..."
No contact information provided at the time of disclosure.