Simple financing solutions for your condominium corporation

Morrison Financial provides a unique loan product to condominium corporations and strata plans who are faced with unexpected capital repairs and replacements, additions and alterations and reserve fund shortfalls.

What can you finance with a Condo Term Loan?

From building envelope and parking garages to roof replacments, our condo and strata loans spread the cost of the assets over their lifetimes.

Major repairs and replacements

Additions
and alterations

Refinancing
of guest suites

What is the process involved in obtaining a condominium or strata term loan?

What loan terms can you expect from us?

Loan Amounts

We offer loan amounts up to $7,000,000 and will evaluate higher loan requirements on a case-by-case basis.

Timelines

Once legal implementation is complete, your condominium corporation may draw on the funds as outlined in your commitment letter.

Prepayment

We provide flexibility to your condominium corporation to pay down the loan faster. Up to 10% of the loan amount may be prepaid per annum without any additional penalty charges.

Interest Rates

We offer competitive interest rate options with the help of our exclusive partner Meridian Credit Union. Interest rates are typically in the range of 5% to 6%, however, are evaluated on a case-by-case basis.

Fixed Term and Amortization

We offer a standard Fixed Term of up to 5 years, and sometimes longer as evaluated on a case-by-case basis.

We offer amortization period of up to 25 years, but not longer than the lifespan of the asset being financed.

Funded condominium term loans

Read about our recent financings with condominum corporation’s similar to yours to understand how we may assist in your next project or other financing requirements.
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Why Morrison Financial?

Learn why we have been trusted for 30 years

Strong partnerships

The history of Morrison Financial and the power of the Meridian Credit Union are here to provide your corporation with a full service solution.

In partnership with

Experience

We have advisors with over 20 years of experience in condominium lending, and made the first ever condominium loan in Canada in 1994

Flexibility

We understand that no two condominium loan situations are alike. We evaluate your needs and determine the optimal financing structure for you

Words from our clients

Since 1987, our team has formed lasting partnerships with hundreds of clients and investors.

Investment

Morrison Financial provides communication that is clear, consistent, and often…

Morrison Financial has been available to answer questions and provide support to investors. 

Morrison Financial is professional and ethical. I feel I could trust Morrison Financial. 

Commercial Financing

“Morrison Financial has been CLT Logistics primary financial partner for over 17 years, and has supported us through numerous growth spurts. CLT has today established itself as one of the premier product logistics and manufacturing companies in Canada, in the Health, Beauty and Household categories, shipping to over 10,000 retailers globally. We could not have made this successful journey without the help and support of Morrison Financial, who we continue to count as a partner beyond that as a source of financing.”

Condo Term Loans

“The most important [financial] development in the condominium industry in years.”

Mortgage Lending

“Morrison Financial consistently provides dependable and highly professional lending services to the development community. Having worked with Morrison Financial for many years, the Morrison team has continuously exceeded our expectations in terms of delivering creative and comprehensive financial solutions, personalized service and timely administrative oversight. This has helped our company, and our clients, in being able to successfully fund our Projects and meet critical timelines. Morrison Financial are reliable business partners who understand the importance of creating relationships while performing a valuable financial service.”

Condo Term Loans

“A true win-win situation for both the condominium corporation and the contractor. We found the people at Morrison Financial to be completely professional and responsive.”

Commercial Financing

“Morrison Financial helped the senior management team of Thinkpath Engineering Services (TES) complete a management buyout in 2011, and since then has provided us with flexible asset based term lending. We have enjoyed not only having Morrison Financial as a lender and equity partner, but also as an important business partner whose expertise we can rely on as we continue to grow. They understand our business and financing needs and have provided a lending structure and pricing that supports our operating and growth objectives. They have made important contributions to key financial decisions and opportunities. With nearly four decades of experience, TES continues to be a global leader in engineering and design services, and we are fortunate to have Morrison Financial as a financial partner.”

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Let us help you get started

Determing what your board or directors requires for their next project doesn’t need to be complicated and we are here to help you fill the gap when it comes to your finances.

Team

Contact our condo financing team today

Learn more

Read more on condo financing in our articles section

Projects

Take a look at projects that we financed

About us

Learn more about why we have been successful for 30 years

FAQS

Condominium board directors and unit owners will have many questions. Read more of our frequently asked questions or reach out today to speak with a finance professional.