Break free from bank limitations with TuCielo Association Financing

When it comes to funding community improvements, TuCielo offers benefits that banks simply can’t match.

Here’s how we stand apart

Mandatory Banking Relationships

Underwriting Process

Amortization Period

Financing Reserves

Loan Process

Traditional Banks

Banks often insist that the association maintain significant operating/deposit balances within their institution.

Rigid and exhaustive underwriting process without flexibility.

One-size-fits-all, typically shorter amortization periods for the loan, which may overburden the unit owners with higher monthly payments.

Unable to lend required reserves for future projects.

Traditional banks typically have a physical building and may require in-person availability when documenting the loan.

TuCielo Association Financing

TuCielo allows the association to maintain its current banking relationships / deposit accounts.

Flexible and personable underwriting process to quickly close the association’s loan.

We offer longer amortization periods than a traditional bank and can finance the loan over the life of the project up to 25 years, lowering the monthly payment.¹

Allows the association to obtain financing for required reserves.

TuCielo Association Financing is fully digital allowing the association to apply and close the loan from anywhere in the state of Florida.

Endless paperwork, rigid criteria, and short repayment terms shouldn’t stand between your community association and its needed renovations.

At TuCielo Association Financing, our team has spent 15 years helping communities secure the capital they need—without the usual bank headaches.

Unlike traditional banks, we allow you to maintain your current banking relationships. Our holistic approach to underwriting gives us the flexibility to tailor solutions which can help more communities than traditional bank lenders.

Let's look at an example*:

Sun Sky Condominium needs a new roof. One option is for the association to require unit owners pay their individual assessments for the roof upfront. Or, another option is to finance with TuCielo to spread out the assessment payments over the life of the improvement. Consider the example below:

Cost of new roof: $1,000,000

Paid Without TuCielo Association Financing

$10,000
per unit

Paid With TuCielo Association Financing

$100/mo
per unit

*Example provided for illustrative purposes only; assumes a 25-year amortization period, 9.99% fixed interest rate, financed origination fee, financed 6-month debt service deposit account requirement of $57,203.76, and equal payments by unit owners (100 units). Total amount financed is $1,107,203.76.

It’s important to understand several key features of our Association Financing product:

Financing available for common area repairs or improvements, property maintenance, or required reserves for future projects

Ability to amortize the loan for the life of the improvement (maximum available term: 25 years)

Competitive rates¹

Origination fee may vary; can be financed into the loan

Debt service account requirement, which may also be financed with the loan

Structural Integrity Report Study (SIRS) required and must be completed within the last 5 years

Want to Learn More?

Contact TuCielo

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¹Actual interest rate may be fixed or variable; amount financed, interest rate, debt service deposit account, project approval, and amortization period subject to underwriting review, credit qualification, market conditions, and project details.