Housing Finance Company Limited (HFCL) is a financial body which was incorporated on 21 May 2003 under the Companies Act, 1972. It is exclusively owned by the Government of Seychelles and was mandated to support the lower and middle-income to purchase or construct their house. The company is now offering home loan facilities of up to R1,200, 000 for families who meet the criteria. Besides home loans, HFCL has other home improvement initiatives that are also geared towards helping its customers to upkeep their homes. This includes home improvement loans, house extension loans, special housing repairs loans, as well as loans for purchasing land. HFCL has maintained its social support philosophy rather than profit-maximizations over the years, and has been lending at attractive and affordable rate of 6% up to July 2014; whereby the rates were increased in two-folds as follows; Up to R500, 000 – 7%, up to R1,200, 000 – 8%. Interest rates are subject to change depending on prevailing market conditions – in consultation with the shareholder. Indeed, since HFCL is supporting and lending money to some people, who would have otherwise not been assisted by the commercial banks, exposes the company to potential credit risks, and this has proven itself in the past where collections have been a major challenge for the company. To address the same, HFCL has a very structured collection system in place but has plans to increase the number of collection officers during the current year.