Condo Association Loan Program
We can provide financing for capital expenditures from $100,000 and up for roofing, siding, paving, window replacement, and recreational facilities. Our interest rates are very competitive and our terms are flexible. Personal attention is provided by assigning a loan officer to your account to assist you every step of the way. For more information, download our flyer or contact one of our business loan specialists.
Meet with us at your convenience. We’ll work with your association or property manager to walk you through the process from start to finish.
6 Reasons your association should consider financing with The Milford Bank
- Rate – We will set the rate at the time of approval for both the Line of Credit and the Term Loan. This means that you already know what the rate will be on the term loan when the line is ready for conversion. Our rates are among the most competitive in the industry.
- Term – We are flexible in the duration of our Lines of Credit. Conversion may be requested earlier if your work is finished before the expected completion date. We strive to set terms that meet your needs. There is no prepayment penalty, points, or application fee.
- Accessibility – We have been a local Connecticut Bank since 1872. Your loan officer is local and is available to work with you on this financial transaction every step of the way. In addition, he will be available to meet with your Board and Owners to make a full presentation.
- Experienced – We have worked with customers’ legal council, property managers, and consultants over the years and have built trustworthy relationships with all.
- Personal Attention – You will be assigned a Vice President of The Milford Bank to be your loan officer and can reach him directly by office or cell phone during business hours.
- Convenience – Our loan application is a one-sided sign page. We make it easy to do business with us.
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