Lending
Money for the roof. Or the alternatives.
Partner lenders bid on your file. They pay us, your corporation does not.
How it works
How the marketplace works
Four steps. The first is running before your board asks.
- Step 1
Capacity is computed all year
Your borrowing capacity sits on the dashboard, with the factors that constrain it. - Step 2
The file is already assembled
Reserve study, statements, budget, arrears, insurance, minutes, quotes. Current, not chased. - Step 3
Lenders bid on the same file
Rate, term, fees and conditions, against one standard file rather than six documents. - Step 4
The board votes on a comparison
Each bid beside a fee increase and a special assessment, with total cost.
Board choice
Never a loan on its own
Every loan is shown beside a fee increase and a special assessment, with the total cost of each.
Dollar record
Our fee, in dollars
The lender pays us. Your corporation does not.
Hard boundary
What we will never do
No default-selected loan.
No urgency language.
No lending prompt inside a compliance or fraud alert.
No loan presented without the no-debt alternatives.
No fee hidden in the rate.
Marketplace record
Partner lenders
We are onboarding Canadian condo-loan specialists and credit unions, and US community association banks.
Loan types
What you can borrow
Term loans for capital projects
Drawn as the consultant signs off the work, and serviced from the right fund.A small draw line
From about $50,000, for deductibles, emergency repairs, assessments and contractor deposits.Hybrid opt-in assessments
The corporation borrows. Units that would rather pay their share in full opt out.
Eligibility record
What lenders look for
A current reserve study.
Financial statements in Board Butler.
Arrears below the lender's covenant.
Insurance in force.
The seasoning period.
The authorisation your jurisdiction requires.
Capacity can be zero, and the dashboard says why rather than leaving the tile blank.
Board questions
Questions boards ask
Is Board Butler a lender?
No. Partner lenders fund. We assemble and present the file.
Who pays you?
The lender that funds your facility. The amount is shown in dollars on the comparison your board votes on.
Will you push us to borrow?
No. No default-selected loan, no urgency language, no lending prompt inside an alert. Those are tested rules, not preferences.
What does the owner vote look like?
The instrument your jurisdiction requires, drafted for you, with your notice period, your threshold and the comparison attached.
How are draws released?
Against the consultant's certificate for the work claimed, with the holdback held back.
What is a hybrid assessment?
The corporation borrows. Units that would rather pay their share in full opt out by a deadline, and the rest amortise theirs.
What happens when a financed unit is sold?
The outstanding share appears on the status certificate and in the closing statement, and is settled on the terms your board adopted.
Is our file shared without consent?
No. It goes to the lenders your board selects, after the board's consent is recorded. The wording is on the disclosures page.
See the comparison before you need it
Capacity is on the dashboard from your first month, with the alternatives beside every offer.
Notes
- Never a loan on its own. A rule in the database, not a policy in a handbook. A comparison containing a loan cannot be marked presented until a fee-increase scenario and a special-assessment scenario with total cost sit beside it.
- Our fee. An origination or referral fee, paid by the partner lender that funds your facility and shown as a dollar amount on the comparison your board votes on. Your corporation is never charged.
- The authorisation. The instrument your jurisdiction requires is drafted from a template, with the notice period and threshold taken from your rules pack, and the comparison included in the notice.
- Draws. Released against the consultant's certificate for the work claimed, with the holdback computed at the statutory percentage and released on the lien-period conditions.