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.
In five years, the fund has awarded 34,195 loans that have benefited 179,900 people.
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.
Multi-sector Investment Bank (BMI) has launched a line of credit for home purchase or remodeling.
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.
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