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Low on HOA reserves?  Pull out cash with a loan

CondoAssociation.com on Jun 25, 2018 5:27:40 PM

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You can bolster HOA reserves with a loan.  If the association has good cash flow from fees and has low delinquency rate the HOA may qualify for a loan.  Its a good way to increase cash reserves for emergencies.

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Some loan uses include:

  • Repairs & Improvements
  • Restorations
  • Capital purchases
  • Reserve funding
  • Refinancing of current debt obligations
  • Litigation funding

General Requirements:

  • Minimum of 13 units
  • Minimum loan amount of $100K
  • Association must have a low delinquency rate

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