Banco del Pacifico will finance real estate purchases

Banco del Pacifico will grant loans with an interest rate of 8% and 10% and up to a 15 years term for natural or legal persons who buy the properties that will be auctioned by the Public Real State company (Inmobiliar).

Efraín Vieira, chief executive of BP, explained that the state bank would allocate $ 107 million so that auctioneers pay with a loan, which will have softer conditions.

Executive Director of Inmobiliar Nicolas Issa said that on the 30th and 31st of this month, 16 properties valued at about $ 3,800,000 would be auctioned in Quito and Guayaquil. “Following sales will come after this one,” he said. Issa added that in the auction of 89 vehicles, divided into three categories (high, low and luxury range), $ 867,000 were raised. (I)