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.