HOA Loan Handbook
If your HOA needs to borrow money, as a board or association member you need a practical understanding of the process. This handbook will give you a basic overview of HOA loans. There is a brief overview along with a checklist of the items that will ultimately be required to obtain external financing.
Loans made to HOAs are unique in that they are typically made to the association as a corporation, as opposed to each individual member. If structured as a special assessment, the board may be able to offer members the choice of optional participation or upfront payments. However, you chose to structure your capital raising project, this handbook will offer some tips that may avoid delays or problems down the road.