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  1. Business customers
  2. Business loans
  3. Procedures for granting a loan

Procedures for granting a loan

  • The representative of the apartment owners gets acquainted with the conditions of the ALTUM program and prepares the necessary documents.

    • More information on the terms of the ALTUM programme can be found here.

  • A vote of the community of apartment owners is organized on:
    • authorized person and powers of attorney;
    • applying for the programme;
    • ensuring technical documentation is completed;
    • applying for a loan, grant, guarantee;
    • selecting suppliers / builders;
    • signing documents related to the project;
    • others issues, including risks of financial corrections.

    Important! You must use the up-to-date report templates, which can be found here.

  • The authorised person must submit an Application through mans.altum.lv to reserve a capital discount.
  • 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.
  • The authorised person submits an application to evaluate their supplier selection through mans.altum.lv and receives a message from ALTUM on the evaluation of their selection.
  • The authorised person applies for an ALTUM loan.
  • The bank considers whether to approve or deny the Loan, makes a decision and notifies ALTUM and the authorised 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! You must use the up-to-date report templates, which can be found here, first sending them to the Bank for approval.

  • Necessary agreements are concluded with the Bank and ALTUM.
  • Implement and finish the project.
  • The authorised person submits an application for a capital discount and attaches the requested documents.
    Important! The authorised person must submit the documents within three months of the building being authorised for service, but no later than 31.03.2026.
  • After the documents are submitted, receive confirmation from ALTUM within three months.
  • The Bank receives the capital discount, which is put towards reducing the loan principal.
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