Company News Aug 10, 2021 4:28 PM
Banco de Bogotá presented a credit product to encourage construction that meets sustainability standards.
This credit line is aimed at construction companies and individuals acquiring this type of property, Portafolio reported.
The bank explained that one benefit of this product is the interest rate discount between 70 and 120 basis points, depending on the score obtained in a sustainability certification system such as LEED, Edge, Casa, Breem, Corel, or any other valid system in Colombia.
Other benefits include a fixed-rate loan in pesos, a pre-operating disbursement of up to 10% of the loan amount, and free diagnostics with the Sumac consulting firm. In addition to the VAT exclusion and rent discount of up to 25% applicable to 3 years that these projects receive.
People who purchase properties built under this line of credit will also receive benefits such as preferential interest rates from 7.5% effective annual rate (EA) with housing leasing and from 7.9% EA with housing credit and digital approvals in 5 minutes without documents for housing credit and housing leasing.
In addition, they will be able to access the Frech VIS benefit for eight years and the Frech Non VIS benefit for 3 years.
“With our portfolio of green products and services, we seek to promote entrepreneurs who are committed to a carbon net-zero construction sector,” Rafael Arango Calle, Vice President of Corporate Banking, said.