Nobody likes to hear the dreaded words "special assessment."  Condo Association Loans give association members the option to pay assessments in monthly installments.

This is a great option, especially for unexpected repair projects. Since the loan is made to the HOA or the condo association directly, association members are not responsible individually for the repayment of the promissory note.

A condo association loan provides the condo association with buying power to negotiate repair contracts for work to be done and to pay the bills in a timely manner. The condo association or HOA loan can be used for reasonable purposes such as a new roof, painting, paving, concrete restoration, pool repairs or common area improvements.