Roofing Contractors | HOA and COA Project Financing with Franklin Street Investments
Roofing Contractors | Franklin Street, working with TRW and boards of HOA/COA properties finding solutions to challenging situations. Whether you need a major capital improvement projects like façade restoration, termite claims, foundation separation claims, or roof replacement can be a big problem for condo, co-op and HOA boards and managers—especially if they haven’t been planned or budgeted for.
The company has handled more than 90 loan workouts totaling over $250 million, and in the past two years, has helped clients in numerous Chapter 11 bankruptcy cases. These efforts have involved working with a wide range of financial institutions, from CMBS lenders and national lending institutions to local banks.
Our company has built deep relationships in the financial industry based on the knowledge that we can help figure out how to make deals work for everyone involved. In this difficult environment, this certainly isn’t easy, and requires a combination of market knowledge, patience and persistence.
A loan restructuring can certainly be a preferable alternative to bankruptcy, and our goal is to turn a negative situation into one that offers a more promising outlook for both the lender and the property owner.
TRW can help you navigate the waters of funding. Securing financing from us can take less time than collecting the funds from homeowner assessments and imposes a far less financial burden on members. Construction projects can be completed in a more-timely fashion, limiting homeowner inconvenience and saving money by avoiding costly delays.
HOA and COA Loans
Benefits at a Glance
- Elimination of large, lump sum special assessment payments for homeowners
- Less impact on a homeowner’s personal finances
- Less wait time for funds than through traditional assessment process
- Choice of fixed- or variable-rate loan programs
- Competitive interest rates
Don’t Wait for Complaints
One of the best ways to keep tabs on a building’s overall condition is to conduct regular, ongoing inspections. There’s no substitute for inspections on a routine basis.The managing agent, superintendent, engineer or other professional should do an analysis, taking into account the estimated life of the system and its cost. Many systems have warranties—for example a roof may have a 20-year warranty.
The need for proper planning can’t be stressed highly enough – both to make major capital improvements as painless as possible for residents, and in terms of money and inconvenience to building administrators.
When Things Go Wrong
There’s no time like the present to commission an inspection. After all, if you don’t know how much life is left in your building’s mechanical systems, you—and your residents—could easily be blindsided with serious repair costs if something should go on the fritz.
TRW has the expertise and the experience to make these kinds of investments as painless as possible. We’ll work with you to choose a loan package that meets your needs. Contact TRW today to learn more.