A loan for a private apartment with a separate commercial part

An entrepreneur who dreams of his own M4 can apply for a loan to finance a private apartment with a separate commercial part. Does such an entrepreneur have more formalities? Which bank has the best offer for companies deciding on a mortgage? What does it involve loan for a private apartmentin which part will be allocated to running a business?

Mortgage loan for an entrepreneur

The retail offer of banks qualifies business activity as one of the basic sources of income. An entrepreneur who wants to take advantage of a mortgage must clearly define whether he wants a part (and what percentage) to be allocated to business, or the mortgage loan should be entirely allocated to financing a private apartment. Which loan is better? Most often, banks are reluctant to grant loans to small businesses that do not yet have stable, certain profits, therefore margins may be higher than those offered to private clients. In addition, most banks offer mortgage loans to companies that have been operating on the market for at least 12 months.

Time of doing business and the possibility of getting a mortgage

Not every company has the opportunity to take out a mortgage - many banks make granting a loan conditional on the time of running a business. Some banks require that the activity be conducted for at least 12 months, some - 18 months, others - 24 months or even 2 years.

A loan for a private apartment with a separate part for running a business

In the case of the size of the space used for commercial purposes, the offers of banks also differ significantly from each other. And so, depending on the bank - we can distinguish offers:

• a loan for a private apartment and houses, where the part intended for running a business does not exceed 50% of the usable area,

• a loan for a private apartment with a separate commercial part - if the business part does not exceed 50% of the usable space, if the entrepreneur is a freelancer and cannot have more than 20% for other clients,

• loans for private houses, if the business part does not exceed 40% of the usable area,

• co-financing of private houses and apartments, if their commercial part does not exceed 30% -33% of the usable area,

Mortgage - necessary documents

An entrepreneur who decides to take out a mortgage must be prepared for the fact that he will be asked to provide many more documents than a private individual. Documents that the entrepreneur will have to prepare:

I. Economic activity (in general)

1. certificate from the Social Insurance Institution on non-payment of contributions, original,

2. original certificate from the Tax Office of non-arrears in respect of tax liabilities,

3. certificate of granting REGON number,

4. certificate of granting tax identification number,

5. certificate of entry in the business register,

6. business license, in the case of licensed activities,

7. PIT 36 or PIT 36L previous accounting year / two previous accounting years (with the stamp of the Tax Office confirming receipt of documents, possibly with confirmation of posting),

8. PIT / B (attachment to PIT 36),

9. company account statement,

10. declaration of not having a company account (if the private account is also a company account).

II. Economic activity (KPiR)

1. Book of revenues and expenses for the current financial year and for the previous financial year (pages: title page, first page, all pages of the current month and a summary of previous months with the stamp of the authorized accounting office on each page and the stamp and signature of the person running the business),

2. information on depreciation write-offs.

III. Economic activity (full accounting)

1. CIT declaration or PIT declaration for the last financial year: balance sheet, profit and loss account for the previous financial year / for two previous financial years,

2. balance sheet, profit and loss account for the last quarter.

IV. Economic activity settled in the form of a registered lump sum

1. statement on the amount of after-tax income obtained in the last 6 months (bank form),

2. certificate from the tax office about the amount of recorded revenues for the last 2 years or copies of tax declarations for 2 years (PIT - 28) confirmed by the Tax Office,

3. revenue book or invoice records for the current period.

V. Economic activity settled in the form of a tax card

1. statement on the amount of post-tax income obtained over a period of 6 months (on the bank's form),

2. a copy of the tax office's decision on the size of the tax card (permanent tax) for a given year.

Mortgage interest and tax deductible costs

If the entrepreneur allocates part of the purchased apartment for business purposes, the interest on the mortgage loan may be included in the tax deductible costs, calculated on the basis of the area used for business purposes.

If the owner of the company has included a private flat in the fixed assets register, the interest accrued until the day the flat is handed over to business increases the initial value of the fixed asset and constitutes tax deductible costs only through depreciation write-offs.