24-Hour Approval Loans for Condo Associations and HOAs
24 Hours Approval | 100% of Cost Financed | Flexible Terms | No Personal Guarantee
Get a loan decision in as little as 24 hours, so your board can keep the project moving.
Get a Loan Quote · Call 754-900-7252 · Visit Our Website
Some association costs can't wait for a long review: a storm-damaged building, an insurance premium coming due, a contractor's bid about to expire. Samtov Finance provides loans for condo associations and HOAs, with well-documented requests approved in as little as 24 hours. Your board gets a clear answer quickly, and owners can repay the cost through regular assessments instead of a large lump-sum special assessment.
Some association costs can't wait for a long review: a storm-damaged building, an insurance premium coming due, a contractor's bid about to expire. Samtov Finance provides loans for condo associations and HOAs, with well-documented requests approved in as little as 24 hours. Your board gets a clear answer quickly, and owners can repay the cost through regular assessments instead of a large lump-sum special assessment.
Why Condo Boards Choose Samtov Over a Bank
A bank can be a good fit for a well-reserved association with time to wait. When the clock is running, here's what changes with Samtov.
A fast answer. Well-documented requests can be approved in as little as 24 hours, with funding shortly after. Bank decisions often take days to weeks, and the full process can run for months.
Up to 100% of the project financed. We can fund the full cost of the work, including engineering, permits and related repairs. Your association doesn't have to drain its reserves or ask owners for a down payment first.
No personal guarantees. Board members and owners never sign personally. The loan is repaid from the association's assessment income.
Refinance with a bank later, if you choose. After 12 months, the association has the option to refinance with a bank. Move quickly now, then revisit bank financing once the work is done and your finances are stronger. It's an option, never a requirement.
Personal guidance from start to finish. You work directly with a loan specialist who tells you exactly what to send, helps your board size the loan and explains every term in plain English. No call centers, no runaround.
Room for associations banks pass on. Small buildings, self-managed associations, low reserves, higher delinquencies or a recent bank denial don't automatically rule you out. We lend from $50,000 to $15 million.
What We Finance
A fast answer matters most when waiting costs more than moving. A Samtov loan can cover:
Engineering, permits and project management
If your need isn't on this list, call us. Tell us the amount and the deadline, and we'll tell you whether we can help.
How 24-Hour Approval Works
The fastest approvals start with a complete package, so have your documents ready when you reach out.
Tell us what you need. Call 754-900-7252 or request a quote with the project, the amount and your deadline.
Send the basics. Your current budget, recent financial statements, bank statements, a delinquency report and any contractor bids or invoices. Include your SIRS or milestone inspection report if you have one.
Get a decision and a clear term sheet. Well-documented requests can be approved in as little as 24 hours. You'll see the rate, term and monthly cost per unit before the board decides. Here's how to read a term sheet.
Approve, close and fund. Once the board approves (and owners vote, where your documents require it), we close and fund so the work can start.
Loan or Special Assessment?
Take a $180,000 repair on a 24-unit building. A special assessment asks every owner for $7,500, often within a few months. Some owners can pay it. Others can't, and delinquencies follow.
With a loan, the work gets done now and the cost is repaid through regular assessments over the life of the loan. No owner has to find $7,500 at once. The trade-off is interest, which is why you see the monthly cost per unit before the board decides. Some associations combine the two: a smaller special assessment plus a loan for the rest.
Compare a loan and a special assessment in more detail
For Florida Boards: Your Own Approvals Set the Timeline
Our decision can come in as little as 24 hours. Your association's authorization is a separate step, so check it early.
Start with your governing documents. Some require an owner vote before the association can borrow. Others let the board borrow up to a set amount, give it full authority, or say nothing at all. Because a loan is repaid from assessments, confirm the board's assessment authority too.
A declared emergency may give the board more room. When a state of emergency is declared for your area, Florida law lets condo and HOA boards borrow without owner approval to fund emergency repairs and carry out the association's duties when operating funds fall short. The power covers damage caused or expected from that emergency and lasts only as long as reasonably necessary. It doesn't apply if your documents specifically prohibit it.
SIRS reserves have their own rule. Using a loan to fund required SIRS reserves needs approval from a majority of the association's total voting interests. Learn more about financing SIRS reserve requirements.
Ask your association's counsel which rules apply before the board commits.
Frequently Asked Questions
How fast can a condo association or HOA get approved?
Well-documented requests can be approved in as little as 24 hours, with funding shortly after. Missing documents slow things down, so send the full package up front.
Does 24-hour approval mean the money arrives in 24 hours?
No. Approval is our decision on your request. We close and fund after the board approves the loan, and after an owner vote where one is required.
What do we need to send?
Your current budget, recent financial statements, bank statements, a delinquency report and any contractor bids or invoices. Include your SIRS or milestone inspection report if you have one.
Does this work for HOAs too?
Yes. We lend to homeowners associations as well as condominium associations, and the process is the same.
Do board members have to sign a personal guarantee?
No. Board members and owners never sign personally. The loan is secured by the association's assessment income.
Can you finance 100% of the project?
Yes. Subject to underwriting, we can finance up to the full project cost, including engineering, permits and related repairs.
Can we refinance with a bank later?
Yes. After 12 months, the association has the option to refinance with a bank. It's a choice, not a requirement.
Can we qualify with low reserves, or after a bank said no?
It's possible. Low reserves are often the reason an association needs a loan in the first place. We focus on whether the association's assessment income can support the payment, and a bank denial doesn't rule you out.
How much can an association borrow?
We lend from $50,000 to $15 million. The right amount depends on what the association's assessment income can comfortably support.
Do owners need to vote on the loan?
It depends on your governing documents and the purpose of the loan. Confirm your requirements with association counsel before committing.
Get Your Answer in as Little as 24 Hours
When the deadline is close, your board needs a clear answer, not a long wait. Talk to a Samtov loan specialist today.
Get a Loan Quote · Call 754-900-7252 · info@samtov.com
More guides for condo and HOA boards
Loans are subject to underwriting and approval, and terms vary by association. Approval times depend on the completeness of the request, and not every request can be approved in 24 hours. This page is general information, not legal, accounting or financial advice. Associations should confirm approval and voting requirements with qualified association counsel.