Does your small condominium association have large capital repairs to tackle but a slim reserve account? A bank loan may help.
In order to qualify for lending, your association will need the following, at minimum:
- Most recent tax return: Yes, you are required to file a tax return annually!
- Most recent year-end financial reports: Including a Balance Sheet and Profit and Loss statement.
- Most recent monthly financial reports: Including a Balance Sheet and Profit and Loss statement.
- Minimal owner delinquencies: You'll need to address unpaid accounts before you can borrow.
Haus Financial Services, LLC can help you prepare the necessary documentation and apply for a bank loan. Get in touch today!