Ten post dostępny jest także w języku: polski
The spring call for applications in the Social Housing Support Program (pl.SBC) has reached record rates – the total amount of loan applications is almost PLN 700 million – over 20 percent more than in the previous year. If all March applications are approved, it could mean the construction of 4,300 new units within the program, according to Dariusz Stachera, director of the Department of Credit Housing Programs at BGK, in the announcement.
The SBC program is based on granting preferential loans to investors. Its aim is the construction of new flats for people who cannot afford to buy or rent on commercial terms, and whose income is too high to live in a communal flat. This program’s mission is to facilitate the access of Poles to housing.
The program is targeted at entities such as the social housing association (pl.TBS), social housing initiatives (pl.SIM), housing cooperatives and municipal companies. The funds obtained through the participation in the program can be used for the construction of apartments for rent with a statutory rental rate, the construction of cooperative tenants’ apartments, as well as for the renovation of buildings in which such apartments will be built.
Applications for preferential SBS credits can be submitted in two rounds – autumn and spring. Spring recruitment runs throughout March and is currently closed. The autumn edition runs from July 1 to September 30, and applications should be submitted directly to BGK.
The SBC loan can finance up to 80 percent investment costs, the loan period is up to 30 years, and the interest rate is equal to the 3-month WIBOR rate. Despite the high interest, the program’s money pool is higher than its demand – so the investors are encouraged to use it without fear of being rejected due to funds exhaustion. These funds come partly from loans granted to Bank Gospodarstwa Krajowego by the European Investment Bank (EIB) and the Council of Europe Development Bank (CEDB), and the interest rate preference is covered by the state budget.
Owing to BGK loans financing social housing, over 100,000 rental and cooperative housing has been erected thus far.