Progressive Finance Limited

Progressive Finance Limited is a public limited company and a C-class licensed financial institution in Nepal, operating under the Nepal Rastra Bank Act, 2062. Registered on 14th Ashwin, 2051 BS (corresponding to 1994 AD) under the Company Act, 2021 BS, the company began operations on 14th Falgun, 2052 BS from its head office at Pako, Newroad in the heart of Kathmandu. It was originally incorporated as Merchant Finance Limited and adopted its current name, Progressive Finance Limited, in 2067 BS following approval by its Annual General Meeting, Nepal Rastra Bank and the Company Registrar's Office. The company serves both individuals and businesses. Its personal loan portfolio includes professional loans, personal loans, share loans and margin lending, deprived sector loans, education loans, home loans, hire purchase loans, foreign employment loans, loans against fixed deposit receipts and loans against government securities. On the business side it offers industrial loans, business and commercial loans, service sector business loans, real estate loans, inter-finance institution loans, productive sector loans, unified agriculture loans, SME loans and bridge gap loans. This breadth positions it as a diversified retail and SME-focused financier rather than a purely commercial bank. Progressive Finance has expanded its capital base through public issuance. It publicly issued 120,000 shares on 28th Shrawan, 2064 BS and later issued 5,901,000 entitled shares in a 1:2.81 ratio. By 15th Baishakh, 2076 BS its total capital had reached Rs. 80,01,00,000 (approximately NPR 800.1 million). The company also provides digital banking through its "Progressive Smart" mobile banking application, which supports fund transfers, bill payments, account management and QR payments, alongside an EMI calculator tool on its website. Positioning itself as a reputed and reliable financial institution in Nepal, Progressive Finance emphasizes attractive interest rates, diverse financial schemes and quality customer service. It aims to make financial services accessible while helping depositors secure their savings with competitive returns. The company remains active and continues to operate as a licensed C-class financial institution in Nepal.

Progressive Finance Limited was registered on 14th Ashwin, 2051 BS under the Company Act, 2021 BS, as a public limited company in Nepal. It commenced operations on 14th Falgun, 2052 BS from its head office located at Pako, Newroad, in the heart of Kathmandu. At inception the company operated under the name Merchant Finance Limited. The company is a C-class licensed financial institution operating under the Nepal Rastra Bank Act, 2062. This classification places it within Nepal's tiered regulatory framework for financial institutions, distinct from commercial banks. A significant step in the company's development came on 28th Shrawan, 2064 BS, when it publicly issued 120,000 shares. This public issuance marked its transition toward broader shareholder participation and strengthened its capital base. In 2067 BS the company officially changed its name from Merchant Finance Limited to Progressive Finance Limited. The change followed approval by the company's Annual General Meeting, Nepal Rastra Bank and the Company Registrar's Office. The company continued to expand its capital. It issued 5,901,000 entitled shares in the ratio of 1:2.81, further strengthening its capital base and shareholder value. By 15th Baishakh, 2076 BS, its total capital had reached Rs. 80,01,00,000, described by the company as a major milestone in its financial journey. Over the years Progressive Finance has built a diversified lending portfolio spanning personal, business and priority-sector lending. Its personal loan range covers professional loans, personal loans, share loans and margin lending, deprived sector loans, education loans, home loans, hire purchase loans, foreign employment loans, loans against fixed deposit receipts and loans against government securities. Its business loan range covers industrial loans, business and commercial loans, service sector business loans, real estate loans, inter-finance institution loans, productive sector loans, unified agriculture loans, SME loans and bridge gap loans. The company has also invested in digital service delivery, offering mobile banking through its "Progressive Smart" application with features for fund transfers, bill payments, account management and QR payments, as well as an EMI calculator on its website. It describes itself as having established a reputation as a reliable financial institution in Nepal, focused on satisfying clients through attractive interest rates, diverse financial schemes and quality customer service while helping depositors secure their lifetime savings with competitive returns.

• Registered as a public limited company under the Company Act, 2021 BS (14th Ashwin, 2051 BS).

• Commenced operations from Pako, Newroad, Kathmandu (14th Falgun, 2052 BS).

• Publicly issued 120,000 shares (28th Shrawan, 2064 BS).

• Name officially changed from Merchant Finance Limited to Progressive Finance Limited in 2067 BS.

• Issued 5,901,000 entitled shares in the ratio of 1:2.81.

• Total capital reached Rs. 80,01,00,000 by 15th Baishakh, 2076 BS.

A reputed and reliable C-class financial institution in Nepal offering attractive interest rates, diverse financial schemes and quality customer service to individuals and businesses.

• Professional Loan

  May be asset based or non asset based lending mainly targeted towards meeting various requirements of professionals.

• Personal Loan

  Provided primarily for fixed asset investment and/or to meet personal financial requirements of an individual.

• Share Loan / Margin Lending Loan

  Loan granted for purchase/acquire of shares of approved listed Public Limited Companies in Nepal Stock Exchange (NEPSE).

• Deprived Sector Loan

  Prioritized as per the national policy objectives of the Government of Nepal to empower socially and financially deprived people.

• Education Loan

  Provided to finance parents and/or the student for higher education.

• Home Loan (Housing Loan)

  Provided primarily for purchase/construction of land/land and building/flat/duplex/commercial complex/apartment etc.

• Hire Purchase Loan

  Provided to acquire durable and movable fixed assets such as equipment, vehicles etc.

• Foreign Employment Loan

  Provided for financing individuals seeking foreign employment abroad.

• Loan against Fixed Deposit Receipt

  Loan granted against own FDR of the Finance.

• Loan Against Government Securities

  Loan granted against Government Securities.

• Industrial Loan

  Any type of loan made to a business or corporation, as opposed to an individual.

• Business/Commercial Loan

  A loan specifically intended for business purposes, providing either working capital or financing capital expenditures.

• Service Sector Business Loan

  A loan specifically intended for business purposes of a service nature.

• Real Estate Loan

  Provided to individual/firm/company to acquire or significantly improve assets such as land, buildings or to construct buildings on acquired land for residential or commercial purpose.

• Inter-Finance Institution Loan

  A short-term instrument that banks/financial institutions use to borrow money from another institution.

• Productive Sector Loan

  Productive sectors are the real sectors of the economy, including agriculture, tourism, hydropower, industries etc.

• Unified Agriculture Loan

  Provided for fulfilling the financing needs (working capital as well as fixed capital) of Nepalese farmers and firms/companies for agriculture related purposes.

• SME Loan

  Loans extended to small and medium enterprises, business houses, companies and firms.

• Bridge Gap Loan

  A short-term financing solution to bridge temporary funding gaps.

• Mobile Banking (Progressive Smart)

  Mobile banking application offering fund transfers, bill payments, account management and QR payments.

1. 1Progressive Finance Limited Official Websitepfltd.com.np
2. 2Personal Loanspfltd.com.np
3. 3Business Loanspfltd.com.np
4. 4Our Legacypfltd.com.np
5. 5ProgressiveFinance Limited - Wikidatawikidata.org