Procedures for granting a renovation loan

  1. The representative of the apartment owners gets acquainted with the conditions of the ALTUM program and prepares the necessary documents.
    Detailed information about the program conditions here.
  2. A vote of the community of apartment owners is organized on:
    2.1. authorized person and powers of attorney:
           2.1.1. application for participation in the program;
           2.1.2. to ensure the development of technical documentation;
           2.1.3. apply for a loan, grant, guarantee;
           2.1.4. select suppliers / builders;
           2.1.5. sign documents related to the project;
    2.2. others issues, including risks of financial corrections.
    Important! Use the current protocol forms located here.
  3. Economic operators of apartment owners inform about the previously received state aid (De-minimis) and their compliance with the program.
  4. The authorized person shall perform the development of technical documentation and energy audit.
  5. A consultation with a Citadele specialist is taking place on the criteria for receiving a loan and the necessary documentation.
  6. The authorized person in the ALTUM system mans.altum.lv submits the necessary documents:
    6.1. application for participation in the program;
    6.2. technical documentation;
    6.3. other documents.
  7. The Authorized Person selects suppliers (builder, construction supervisor, author's supervisor, equipment suppliers, etc.).
  8. The Authorized Person shall submit the Loan Application and the necessary documentation to the Bank.
  9. ALTUM provides an opinion to the Bank on the compliance of the supplier selection process with the regulatory framework.
  10. The Bank evaluates the granting of the Loan, makes a decision and notifies ALTUM and the Authorized Person.
  11. A vote of the community of apartment owners is organized on:
    11.1. house renovation or reconstruction;
    11.2. the costs of project implementation and project managers determined as a result of the selection;
    11.3. receipt of the loan, grant, guarantee and conditions;
    11.4. subsequent monthly repayment of the loan;
    11.5. authorization for the authorized person to sign legal documents (loan, grant, supplier agreements) in the name and on behalf of the apartment owners, to organize the construction process and settlements;
    11.6. and other matters, including information on financial corrections.
    Important! Use the current protocol forms located here.
  12. Necessary agreements are concluded with the Bank and ALTUM.
  13. ALTUM shall transfer a grant advance of up to 90% of the grant to the blocked project account.
  14. The Bank shall transfer money in accordance with the Credit Agreement and the renovation work plan.
  15. ALTUM performs the necessary final checks and transfers the grant balance to the blocked project account.