Features & Benefits
The Simplified Loan provides essential funds to assist with your community’s capital improvement project, deferred maintenance, disaster relief costs or refinancing needs.
Term loan features include:
- Up to $2.5MM loan
- Competitive fixed-rate options on 3-, 5-, 7- and 10-year terms
- Competitive variable-rate options on a 15-year term
- Simplified underwriting process2
- $1,000 commitment fee
- No closing costs
- 0% prepayment penalty3
Get Started Today
Throughout the streamlined approval and closing process, you’ll benefit from our efficient closing process and responsive decision-making – all while working with a team dedicated to the community association industry.
To see if your community association qualifies or to get started on the process, contact one of our experienced relationship managers today.
1. All offers of credit are subject to credit approval, satisfactory legal documentation and regulatory compliance. Must maintain reserve accounts at Alliance Association Bank during the life of the loan. Rate and terms are subject to change. Borrowers are responsible for any appraisal and environmental fees plus customary closing costs, including title, escrow, documentation fees and may be responsible for any bank fees including bridge loan, construction loan, and packaging fees. Please refer to the terms, conditions and disclosure set forth in the term sheets provided at the time of signing.
2. Please refer to your relationship manager on what qualifications your community association must meet in order to qualify for the streamlined Simplified Loan.
3. If refinancing with another institution, a penalty will apply.