Assistance in determining, applying for, and receiving the appropriate amount of funding for major projects.

Project Funding Assistance

Advantages to Project Funding Assistance:

Allows the membership to pay for the construction work over a long period of time.
Assurance that money will be available when it’s needed.
Freedom to enter into contracts for substantial works of improvement without fear of running into financial problems trying to collect large special assessments from each homeowner.

HOW CAN WE HELP?

There are many kinds of loans available for Condominium and HOA’s with HOA-friendly banks (those that have a division specifically dealing with HOA loans). Most bank loans to associations require a rigorous application process and the financials, delinquency rate, reserve study, cash flow and other financial information are examined. We help associations put together this information and assist associations in getting their governing documents amended.

“I am convinced that our $5 million repair project at Eastbridge Condominiums would have never happened without Bach & Associates, specifically David Bach. I sometimes think it was almost a miracle that we managed to pass a special assessment, obtain a $1 million dollar insurance settlement, negotiate a bank line of credit, and finish our work on schedule. This was during the worst recession since the Great Depression. Without David Bach’s experience, knowledge and professionalism I know we would not be where we are today.”

BOARD PRESIDENT
EASTBRIDGE CONDOMINIUM