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Procedures for granting a renovation loan

  • 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.

  • A vote of the community of apartment owners is organized on:
  • authorized person and powers of attorney:

    • application for participation in the program;
    • to ensure the development of technical documentation;
    • apply for a loan, grant, guarantee;
    • select suppliers / builders;
    • sign documents related to the project;

    others issues, including risks of financial corrections.

    Important! Use the current protocol forms located here.

  • Economic operators of apartment owners inform about the previously received state aid (De-minimis) and their compliance with the program.
  • The authorized person shall perform the development of technical documentation and energy audit.
  • The authorized person in the ALTUM system submits the necessary documents:
    • application for participation in the program;
    • technical documentation;
    • other documents.
  • The Authorized Person selects suppliers (builder, construction supervisor, author's supervisor, equipment suppliers, etc.).
  • The Authorized Person shall submit the Loan Application and the necessary documentation to the Bank.
  • ALTUM provides an opinion to the Bank on the compliance of the supplier selection process with the regulatory framework.
  • The Bank evaluates the granting of the Loan, makes a decision and notifies ALTUM and the Authorized Person.
  • A vote of the community of apartment owners is organized on:
    • house renovation or reconstruction;
    • the costs of project implementation and project managers determined as a result of the selection;
    • receipt of the loan, grant, guarantee and conditions;
    • subsequent monthly repayment of the loan;
    • 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;
    • and other matters, including information on financial corrections.

    Important! Use the current protocol forms located here.

  • Necessary agreements are concluded with the Bank and ALTUM.
  • ALTUM shall transfer a grant advance of up to 90% of the grant to the blocked project account.
  • The Bank shall transfer money in accordance with the Credit Agreement and the renovation work plan.
  • ALTUM performs the necessary final checks and transfers the grant balance to the blocked project account.