News and Resources

You Got the Loan. Now What?

By: Linda J. Schiff, Senior Vice President, COMMUNITY ADVANTAGE®, Barrington Bank & Trust

More and more associations are getting loans to finance their large common area projects—siding, balconies, roofs, garage repairs, etc. The application and approval process is a lot of work for property managers and board members alike. It takes time to research the appropriate loan structures and banks, and to negotiate a transaction that makes sense for all parties.

For many property managers and board members, this is where the process seems to stop. However, there are many other important issues which should be addressed after you get the loan.

For a complete copy of this article, please contact Linda Schiff by phone at 847-842-7980 or by email at lschiff@communityadvantage.com.

This article appeared in the April, 2000 edition of Condo Lifestyles

April 3, 2000