Denied an HOA Loan by Your Bank? Samtov Finance Can Still Fund Your Association
Yes, your association can still get a loan after a bank denial. Samtov Finance is a Florida private lender that funds HOAs and condo associations that traditional banks reject. Where banks apply rigid checklists, Samtov underwrites on real-world cash flow, so associations turned down for high delinquency, low reserves, small size, or investor-heavy ownership can still qualify. Approvals can come in as little as 24 hours once paperwork is in.
Why did the bank deny our HOA loan?
Banks typically deny associations for delinquency above their cutoff, underfunded reserves, fewer than 20 to 25 units, a high percentage of rented or investor-owned units, pending litigation, or an incomplete SIRS report. These are firm checklist rules, not judgments about whether your association can actually repay.
How is Samtov Finance different from a bank?
Samtov uses flexible, cash-flow-based underwriting instead of rigid benchmarks. We look at your association's real financial picture, the urgency of the project, and your repayment plan, rather than rejecting you over a single ratio that falls outside a bank's template.
Can we get approved with high delinquency?
Yes. Samtov can approve loans for associations with high delinquency as long as the community demonstrates sufficient cash flow and active collections.
What if we have little or no reserves?
Samtov finances associations with little or no reserves by underwriting future budget capacity and the necessity of the project, rather than requiring a fully funded reserve upfront.
How fast can we get funded after a denial?
Once we have your financials, budget, delinquency report, and project estimates, approvals can come in as fast as 24 hours, with funding shortly after. Banks often take months only to deny.
What do we need to apply?
Financial statements, current annual budget, delinquency and aging report, and repair schedule with estimates. There is no personal guarantee; the loan is secured by the association's assets.
Denied by a bank does not mean denied everywhere. Contact Samtov Finance or give us a call at 754-900-7252.