Condo Q&A

Small condo association with no debt can not get a loan for projects

Written by stephen polinsky | Mon, Jun 18, 2012 @ 12:59 PM

We are a small 11 unit condo the building is debt free and in great shape and we want to keep it that way. We are having a hard time getting any kind of financial funding from any institution for future Capital Improvements or Deferred Maintenance projects either in the form of a loan or home equity loan. All of the owners are financially stable but because of our size no one will touch us. Can anyone help?