Associations take out loans to spread the cost of community improvements over time, typically allocating the expenses to all unit owners through increased assessments.  These loans can be used to pay for common area repairs or enhancements, property maintenance, and to supplement required reserves for future projects. 

TuCielo Association Financing offers loans to community associations to pay for common area repairs or improvements and property maintenance. With TuCielo, an association can also request a loan to cover its required reserves needed for future projects.  The association repays the loan in full, plus interest, over a selected period of time (term).

Condominium Associations, Home Owners Associations, and Cooperative Associations in the state of Florida may apply for TuCielo’s Association Financing product.

TuCielo Association Financing is available in Florida.

There are many benefits to an association for using a loan, to pay for community property improvements, including:  

• Cost of maintenance, repairs, and required reserves can be spread out over several years, replacing the need for a large one-time special assessment for a project 

• Gives unit owners the ability to budget for and extend the payment for the assessment 

• Provides the unit owner choices: between paying the special assessment upfront, or participating in the loan to pay overtime 

In addition to these general benefits, TuCielo stands above the rest! Additional benefits include: 

• We are not a bank – and that’s a good thing! Unlike traditional banks, we allow the community to maintain its current banking relationships  

• Unlike other lenders, TuCielo allows an association to finance required reserves for future projects, in addition to financing current community property improvements and repairs.  

• TuCielo allows the association to spread the special assessment payments over the life of the project, up to 25 years, while many lenders max out at 5-10 years 

• At TuCielo, you are our priority, we offer faster underwriting with a personal touch

Submitting complete documentation in an orderly fashion, with accurate file names and dates, will improve the processing time for underwriting review.  Well prepared financial statements and reports will reduce back and forth.  Customary items that TuCielo will require include:  the association’s governing documents (Condominium Declaration and all amendments, bylaws, rules and regulations, collection policy), financial statements, approved budget, aging reports, past board minutes, property management agreement, and proof of insurance.

Community associations with at least 15 units or more may apply for an association loan. In the underwriting process, TuCielo will review several key criteria to help evaluate the loan request. Our holistic approach to underwriting gives us the flexibility to tailor solutions to the association and help more communities with financing versus traditional bank lenders.

When TuCielo evaluates a loan request, several key underwriting criteria help to evaluate the association’s credit risk and repayment ability. Unlike traditional banks, TuCielo’s holistic approach to underwriting gives it more flexibility to tailor unique financing solutions.  TuCielo takes into account delinquency, liquidity, association size, community structure, owner occupancy, and project management to name a few.

Yes, having a professional management company is a requirement to ensure a certain level of expertise, professional oversight, improved risk management, and stronger financial health.

Typically, Associations have the choice to spread the repayment of the loan up to the useful life of the improvement (up to 25 years) or if preferred, a shorter period. We offer amortization period choices to meet your association's needs!

Lenders vary in their policies regarding early loan repayment. TuCielo’s association loan allows for partial prepayments, subject to the specific terms and conditions of the loan agreement. The permitted amount and frequency of prepayments depend on the terms of the association’s loan.

We’re not a bank — and that’s a good thing! Unlike traditional banks, TuCielo puts your association first, offering flexible financing options and tailored support that banks simply can’t match. Discover the difference and see how TuCielo stands apart.