Société Civile Immobilière, the SCI is a very exciting idea that allows you to create a family heritage or collect rental income. However, to succeed in such a project, it is necessary to have significant financial means to carry out the purchase of real estate. Then discover some solutions that will allow you to finance your SCI.
Make a loan in the name of the SCI
The partners of an SCI are able to apply for a loan from a bank as soon as it is created. This will allow them to complete the purchase of real estate which the SCI will own. As the manager of your SCI, you must be authorized to take all the steps required with the bank to obtain the SCI loan.
The evaluation of the borrowing capacity of the SCI
To make a good estimate of the borrowing capacity of your SCI, the bank will take into account the personal situation of each partner. Indeed, when the SCI will no longer be able to repay the monthly payments, the bank will be able to turn to the partners. Thus, each must be able to make the reimbursement in proportion to their holding of shares.
The guarantees required by the bank
In order to protect itself from a repayment default, the bank generally asks for specific guarantees. She requires a mortgage that will allow her to seize the property and proceed with its sale. It also asks for joint surety from the partners, which will allow everyone to commit to repaying the entire loan in the event of a problem. Finally, there must be a privilege of lender of funds which allows the bank to be paid in priority compared to other possible creditors.
Take out a personal loan
To finance their SCI, the partners have the possibility of taking out a personal loan before making the transfer to the SCI. Here, the loan terms are totally different. Each partner will take the necessary steps to obtain a loan. This means that there will be as many credits as there are associates.
As for the bank, it will examine their borrowing capacity individually. Thus, she will make an estimate of what they can borrow. Therefore, depending on their personal resources, each partner can have a loan of a different amount. For the repayment of the loan to the SCI, they can operate in several ways. They can do so either by cash contribution or via contributions in the current account of partners.
When the repayment is made by cash contribution, the repayment of their loan can be made thanks to the amount of land income that each partner will receive annually. On the other hand, if it is a current account contribution, it will depend on the repayment terms that have been set between the partner and the SCI.
Constitute a capital contribution
It is rare for the partners of an SCI to fund with their own funds, of course, but it is also a possible alternative. Indeed, they can do so via a contribution in cash or a contribution in kind. This type of contribution is freely determined by the partners. In addition, no maximum or minimum amount is imposed by law for the constitution of the share capital of an SCI.