Under this agreement, Grihum will generate leads, manage loan servicing, and act as the primary point of contact for customers.
FinTech BizNews Service
Mumbai, July 01, 2024: Grihum Housing Finance Limited (‘Grihum’), previously known as Poonawalla Housing Finance Limited, has entered into a Co-lending agreement with Central Bank of India to offer affordable loans secured against properties (LAP) to Micro, Small and Medium Enterprises (MSMEs) customers. In line with Grihum’s longstanding dedication to supporting self-made individuals across semi urban and rural India, this collaboration aims to combine their respective strengths to boost the prospects of MSMEs and contribute to the holistic and broad-based growth of India. The co-lending framework established by the Reserve Bank of India serves as a platform for leveraging the bank’s cost-efficient funding model alongside the efficient sourcing and servicing capabilities of the NBFCs/ HFCs. Under this agreement, Grihum will generate leads, manage loan servicing, and act as the primary point of contact for customers.
“Small business entrepreneurs often struggle with the availability of funds for their business that too at affordable rates. This impact their growth potential and limit their aspirations. The Co-lending agreement between Grihum Housing Finance and Central Bank of India will address this challenge. Grihum’s robust distribution network in semi-urban and peri-urban areas, and solid understanding of the needs of self-made Individuals, alongside Central Bank of India's competitive capital costs, will provide small entrepreneurs a distinct competitive edge.” said Mr. Manish Jaiswal, Managing Director and Chief Executive Officer, Grihum Housing Finance.
Grihum has emerged as a national scale affordable housing finance company over the last few years. Grihum’s Assets Under Management (AUM) has grown from ₹ 1,800 crore to ₹ 8,200 crore in last six-year period. During the last fiscal year, Grihum’s disbursement was a record-breaking at ₹ 2,914 crore. With a customer base of over 77,000 spread across 18 states/ UTs of India, Grihum is committed to assist the growth of hardworking Indians in the country’s semi-urban and peri-urban areas.
