TRIODOS bank: collecting questions

The Reef
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Hi @reeflings

Given that we have many questions to the Triodos bank and it would be great to send them in one go and have a meeting with them to elaborate, could we agree we collect them all in one document here.

Thank you

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Hi @reef-finance , hi @Lee

Just got an answer from Triodos bank and Olivier is available on:

  • Thursday 2/05 at 10am or
  • Friday 3/05 between 10am-12pm

Any preference?
Thanks
ugne

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Thursday I can’t, Friday I can make myself available. Shall we maybe take this exchange to a Signal group?

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Hi @reef-finance , hi @reeflings

We received some interesting documents about the current loan conditions at TRIODOS and it can be found here for those interested. It’s in FR & NL

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I have now posted Olivier’s answers plus some further notes from the call into the Q&A document saved here: https://c301.nl.tabdigital.eu/f/122872

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@reef-finance
fyi
in a previous post i said it was probably going to stay with my bank (where i took my current loan) as i am not planning to sell my current house (because i thought that would be an issue)
I had an appointment with my bank, and they say there is no issue, so i would go with the triodos loan


in the conversation, the question about ‘should we all take our mortgage at the same bank’ came up as well, this is his view on the question:

  • to pay for the land, this will be a problem if you all take a mortgage with a different bank, because there won’t be a clear view on who has what
  • to pay for the construction of the apartment: at this time it will be clear who has what apartment, there will be a permit and plans with a division in apartments. At this moment it’s not a problem if people take a mortgage at different banks, this shouldn’t be a problem

i read the Q&A for Triodos, and added another question (in the same doc)

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i read the tarifs and if i understand well, we will get a discount of 90%, or will it be rather 80%.
To get the 90 % we should fulfill one of the two below

  • the social inclusion criteria: do we fulfull the criteria ?
    – mix of generation: i guess not (not at this moment at least)
    – one of the inclusion units be occupied by refugees => do our investors/team inclusion have specific criteria about who/hew they will rent out to? (@Sophie_B @Laurianne @Caro )
    – an apartment constructed towards people with a disability or people who want to reintegrate in the society: same question as above for team inclusion
    – an apartment that will be rented out via a social hiring office (?): same question for team inclustion

  • the new construction of a low energy building: shall we reach a E-level of <= 0 or primary energy consumption of 25 kWh/m2/year
    – question for TB?

Anyway, i guess, in the worst case we fall back to a reduction of 80 % instead of 90%

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Dear @reef-finance,
We had today our one-on-one meeting with Triodos to check how much can we commit to the project (another action crossed-off our onbording-to-do list :slight_smile: ).
One important difference when compared with the information in Q&A documents on NextCloud is that Triodos would not offer an extra 0.1% off when a group of at least 5 household chose to take up a mortgage with them. They would in exchange offer a reduction on the administrative fee (From 350€ to 200€) and more favorable terms with regards “commission de reservation” which might normally apply if there are any delays in the construction timetable or we end up spending less than what we asked (which, considering the buffer of 10%, could incurr :crossed_fingers:).
Otherwise, the information we received was the line with what is already presented in the Q&A document.

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Hi @reeflings

Few answers from Triodos contact (Olivier) that were left out folloiwin our call of May 3rd.

Possibility to get the Bullet loan at Triodos
The bullet for the terrain is only possible when there is an existing property as a guarantee, not only on the terrain, like mentioned in our latest call.

How fast we can we get the bank account opened at Triodos
For the bank account (for sociĂ©tĂ© simple) you can contact a colleague of mine. Contacts added to the Triodos questions file. She will help you to open the account for the sociĂ©tĂ© simple. Which means that the question wasn’t answered about the duration of opening an account? :slight_smile: I will ask the contact he gave us.

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Hi @reef-finance , hi @Lee

Important information from Triodos (other contact that deals with the bank accounts).

Her answer about how long it takes to open an account for société simple:

Opening an account for a ‘burgerlijk maatschap, sociĂ©tĂ© simple’ takes several weeks. Important for the bank is to know who the representatives are and who the board members are.

If you want, we can go through the document together so it can be completed smoothly.

(via Teams or in our office in Brussel or Gent)

Let’s have a call with her, what do you think?
Thanks
ugne

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Hello Ugne, as the SoSim will only take off next year, I believe it will be difficult to open the bank account now, we wouldn’t have the answers to their questions re board and representatives.

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I think we incorporate the société simple before we actively start using it. There is now a big question mark around the statutes however, in relation to the clauses I found in the statutes from De Spiegel. I hope to post about that tonight or tomorrow.

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Hello @reef-finance ,
please find notes saved from today’s meeting with Juan from Triodos here: Login – Nextcloud
As agreed, we talked about the question on contacts (going forward we can reach out to both him and Olivier) as well as loans for purchasing land.

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Hi @reef-finance , hi @els & @Lee
I met this morning with Karola from Triodos. I think rather good news. See my notes here
Let me know if clear. I added the fiche (FR & NL) in the same folder.

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Huge thanks. Everything is clear except for

  • Only 4 people max can manage this account and have access (up to 4). Others don’t have access
  • 2 max out of 4 above can have signature power (1 signature for free, second signatory: 25€/month (so called “digipass”)

What does it mean “to manage the account” vs. “to have signatory power”? If you manage the account you can make payments, right?

(But in practice it is a detail, you are right that the news are good. This part is coming along fine).

Did you also discuss the loans thing?

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hi @alberto, she said to check this with Juan or Olivier, not her competency. She started saying it’s possible to take a loan as a group, but perhaps better individually. So clearly, we should check with Juan when he is back from holidays (in a week, i think).

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hi @alberto

The way i understood:

  • Max 4 people can have access to see and inform the group, manage the accounts - do payments (people we fully trust)
  • Only 2 people have signatory power (she clearly said they should be from the board)
  • The 2 with signatory power must be from the group of 4 (that have access and can manage accounts)
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But what does “signatory power” mean if not “spend the organization’s money by making bank transfers”?

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Hey @ugne I just realised your notes do not address the question:

Can a member’s loan disbursement be made directly to the account of the SoSim, upon presentation of receipts (from the construction company, the architects etc)?

Did you discuss it?