Salvadoran housing fund increases credit coverage

The Social Housing Fund announced that it has increased its credit coverage to attend to other Salvadoran segments.

Thursday, November 20, 2008

These include Salvadoran abroad, retirees, IPSFA members and workers with variable income, independent workers and professionals, business people, people with businesses at home and micro, small and medium sized business owners.

At the same time, the FSV has increased the loan amount from $14,285.71 to $50 thousand.

More on this topic

Salvadoran Housing Fund Allocates $343 million

May 2009

In five years, the fund has awarded 34,195 loans that have benefited 179,900 people.

Enrique Oñate, president of the institution stated that the next administrator should define new sources of funding for the institution.

Journalist Irene Valiente reported the statements of Enrique Oñate in Laprensagrafica.com: "Loan amounts were between $14,000 and $75,000 for workers with incomes of up to 2.5 times the minimum wage."

El Salvador: Will simplify credits to buy homes

October 2008

The approval of the credit terms and conditions to acquire a home is part of the strategy promoted by the Fondo Social para la Vivienda (Social Housing Fund) to increase the loan coverage.

The credit policy also seeks to reduce the deficit of social interest housing, assured the president and executive director of the FSV Enrique Oñate Muyshondt yesterday.

El Salvador: $ 15 Million for Housing Loans

November 2010

Multi-sector Investment Bank (BMI) has launched a line of credit for home purchase or remodeling.

Funding is through financial intermediaries (commercial banks or credit unions).

Ricardo Vega, BMI official said the new credit line aims to address two different niches.

Housing Credit Down 55% In El Salvador

September 2013

Up to June banks had only provided financing for housing projects worth $14.36 million, while in the same period last year it had already reached $32 million.  

"The new housing projects can be counted on the fingers of one hand," said the executive director of the Salvadoran Chamber of Construction Industry (Casalco), Ismael Nolasco, adding that the drop is a reflection of an industry that is not investing in large housing projects because it has seen any demand.

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