CondoCorp Financing Leaky roofs, drafty windows, peeling paint, and old, inefficient heating systems are just some of the problems condominium corporations face everyday. Dealing with these types of problems costs money... sometimes lots of money. Let us show you a way to address the capital repairs and renovations your building needs without the financial strains and project delays caused by Special Assessments.
CondoCorp Financing If yours is a well-managed corporation with a high percentage of owner occupancy, the process is easier than you think: Financial statements for the prior two years Budget for the current year. Breakdown of any unpaid condominium fees. A list of unit owners showing their unit numbers, their occupancy status, and their beneficial interest in the condominium trust. A copy of your condominium board minutes that authorize this specific borrowing of funds. When faced with Special Assessments, you can give each owner the flexibility to either pay their Assessment in a lump sum or monthly through their condo fees—not everyone has to opt-in to make a condo corporation loan viable.
CondoCorp Financing We write both fixed and variable rate loans. These are the most common terms we offer for this type of loan: Term: 5 years Amortization: 15-20 years Rates: 8-12%, depending on loan size and risk Origination Fee: negotiable. Closing a Condo Corporation Loan is simple and painless as we do not require property appraisals, personal guarantees, or security registrations on individual condo titles. Our loan is to the condominium corporation itself; individual owners carry no responsibility.
CondoCorp Financing We have been providing loans to Eastern Canadian condominium corporations since 1995. It's a business we know. It's a business we're good at. Avoid the hassle and project delays caused by unpaid levies—give the owners a payment option and you can start those building improvements right now. When you're ready to talk business, we're ready for you. What are you waiting for?
Condo Corporation Loan Program Presentation Please visit our web site at www.corporate-finance.ca Please contact our sales department to learn more or arrange a needs assessment meeting where we can develop a CondoCorp Financing Program tailored to your association’s unique needs. Please visit our web site at www.corporate-finance.ca Omega Corporate Financewww.corporate-finance.ca Excel Centre, 18104-102 AvenuePhone: 866-240-4808 Edmonton, Alberta Fax: 866-267-7413 Canada T5S 1S7E-mail: email@example.com