A Hamburg niche instrument (Sozialbehörde/FHH) that closes the temporary equity gap of a small co-op whose Genossenschaftsanteile cannot yet be issued because future members are on SGB II/XII benefits and only get the share money at move-in.
- Who: small Wohnungsbaugenossenschaften (or genossenschaftsähnliche juristische Personen) building WA-Wohnungen for vordringlich wohnungssuchende Haushalte, without other collateral. Large co-ops are excluded.
- What: an IFB loan guaranteed by the FHH that pre-finances the equity required under the Baugemeinschaften Richtlinie (A 1.10.1) or the WA Mietwohnungsneubau Richtlinie.
- Amount: case-by-case, max €720,000 or €500 per m² of the Wfl. named in the application.
- Term: Zinsbindung until planned Bezugsfertigkeit +12 months, max 5 years; endfällig after move-in; 100 % disbursement; Bereitstellungsprovision 0.15 %/month from month 13.
- Gate: the co-op must cap Genossenschaftsanteile for WA households at €500/m²; the Sozialbehörde then lends members the share money (repaid via 5 % of Regelbedarf).
- Sits in the capital stack as an equity substitute, senior to nothing; repaid from the members’ share payments.
Related
- hamburg-ifb-baugemeinschaften-genossenschaftlich — the main programme whose equity rule this bridges
- genossenschaft-shares — what is being pre-financed
- eg-cooperative — only co-ops qualify
- buergschaftsbank-guarantee — the guarantee-bank instrument and why housing usually falls outside it