National Bank of Commerce
Association Services Loan
Doing community association loans takes bankers that know how to keep your project moving in the right direction. Our expert team of bankers and former association management executives can help your association determine a scope and a repayment schedule to best execute capital improvements plans, major repairs, insurance premium and even deductible financing.
- 1-page loan application & a month’s worth of recent financials for us to look at your project
- Fast decisions on indicative rate and terms (typically less than 24-hours)
- Figuring out the scope of work to be completed takes experience on association projects, knowledge of the association financial position and familiarity with the reserve study: we have you covered!
- Meeting attendance to communicate pertinent project and loan details to assist in the decision-making process
- Our account management team will ensure your application is complete the first time so we don’t have to keep coming back for additional documentation
- Interest only construction periods to help you save cash during the project
- Pay interest only the amount you have outstanding
Competitive Rates & Terms
- Adjustable and Variable rate options available to meet your financial objectives
- Terms up to 10-years and amortization up to 15-years
- No personal guarantees from board members
- No encumbrance on individual units
- No prepayment penalties (if not refinanced with another institution)