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Apartment association loan

The apartment association loan with its long period and attractive interest is designed to finance the renovation of the whole apartment building and the improvement of its energy-saving features.

Reduction of expenses

An energy-efficient apartment building consumes less power and thus your heating bills in the winter season become smaller.

Increased real estate value

A renovated facade, a new roof, repaired staircases, new windows, an updated power grid and heating system – all these things make apartments more valuable.

Pay less service fees

Residents enjoy discounts when making payments to the apartment association’s bank account. The Apartment Building Plan facilitates saving on service fees.

More information


Helo Koskinen
Regional Manager of Business Client Financing
+372 525 2905


Anne-Mai Sallaste
Business Client Relationship Manager
+372 664 0734


Deniss Gorbušin
Business Client Relationship Manager
+372 664 0774


Merit Mängli
Business Client Relationship Manager
+372 664 1886


Dmitri Želnovatõi
Business Client Relationship Manager
+372 669 0935

Kersti Maisvee

Kersti Maisvee
Business Client Relationship Manager
+372 511 9144

Villi Hunt

Villi Hunt
Business Client Relationship Manager
+372 5331 5160

Aleksandr Tšekmazov

Aleksandr Tšekmazov
Trade Finance Manager
+372 669 0992


Deiro Kaju
Business Client Relationship Manager
+372 664 0759


Ervin Jõgi
Business Client Relationship Manager
+372 782 8761


Madis Hünerson
Business Client Relationship Manager
+372 515 2819


Irina Jermolajeva
Business Client Relationship Manager
+372 669 0976

Ligia Tenina

Ligia Tenina
Business Client Relationship Manager
+372 505 7543


  • Loan amount of not more than 90% of the cost of the works to be performed but not more than 200 euros per square metre of the total floor area of apartments
  • Term of up to 20 years
  • Loan amount is disbursed based on invoices and records into the settlement account of the association at Coop Pank
    payment holiday of up to 12 months during renovation works
  • Interest 6 months’ EURIBOR + risk margin
  • Collateral
    - pledge of property rights over the obligations of the members of the apartment association
    - guarantee by KredEx, guarantee by a private individual or a legal person, a term deposit or a mortgage over a registered immovable property
  • The apartment association has to have been registered as an apartment association for 6 months before a loan is sought
  • There must be a minimum of 6 apartments in the apartment association
  • Debts owed by the members of the association to the association must not account for more than 10% of the total amount of the invoices in the past 6 months
  • No deferred tax arrears owed to credit or financial institutions, the Tax Authority or utility companies
  • Loan application
  • Valid resolution of the General Meeting to take out a loan, adopted by a simple majority unless the articles of association stipulate the requirement of a larger majority
  • Financial statements
    - annual accounts for the past 2 financial years
    - balance sheet and profit and loss account for the current financial year as at the end of the last quarter
  • Brief description of works to be performed, budget, timetable, copies of construction bids, design documentation and construction licence if needed
  • Report on apartments with late interest arrears (number, amount of arrears and the like)
  • Builder’s written certification that the company has been operating for at least 2 years and has previous experience in performing similar works; written certification that a guarantee of at least two years is being provided for the works to be performed; annual accounts for the past financial year
  • Statements from the payment accounts of the apartment association for the past six (6) months if the apartment association is not a settlement client of Coop Pank