CondoCorp Term Financing™
Long-term financing built for condominium corporations
From capital repairs to reserve-fund replenishment — spreading the cost fairly across the owners who benefit, over time.
Repayment
Common expenses
Availability
Canada-wide*
Structure
No personal guarantees
*Available to condominium corporations across Canada — except Quebec at this time.
A loan for the corporation — not the unit.
The borrower is the condominium corporation itself. Repayment flows through common-expense assessments, spread over the amortization.
Typical loan
$200K – $7M+
Term
1 – 10 years
Amortization
Up to 25 years
The Challenge
Your corporation has financial needs. A special assessment isn’t the only answer
Whether the corporation faces a major capital repair, a depleted reserve fund, or an expiring loan — the traditional response is a special assessment. A one-time, lump-sum ask of every owner, due immediately. CondoCorp Term Financing replaces that shock with a structured loan to the corporation, repaid through modest monthly common-expense increases — the way a homeowner uses financing rather than paying cash for their home.
The Traditional Ask
A special assessment.
Collects the full cost from owners at once. Financial shock for residents, pressure on property values, and delay on the corporation’s priorities while owners arrange funds.
$10K–$50K
per unit due immediately
CondoCorp Term Financing
A structured loan to the corporation.
The corporation borrows; repayment flows through common-expense assessments. Fair across owners, predictable for the Board, and protective of owner equity.
25 yrs
amortization per-unit monthly
Process
From Board
resolution to funded loan
A clear, four-step path. Morrison structures the facility, supports the owner vote, and closes the loan — working alongside the Board, the property manager, and the engineer.
01
Board identifies the need
A capital repair, reserve-fund replenishment, refinancing of an existing loan, or financing of a corporation-owned asset. The Board requests a proposal from Morrison.
02
Morrison structures the loan
A financing structure tailored to the corporation’s need, budget and owner profile — including amortization scenarios and monthly cost-per-unit breakdowns.
03
Owners vote
The Board brings the proposal to a vote under applicable provincial legislation. Morrison can provide Town Hall materials, presentation decks, and FAQ guides on request.
04
Funds are deployed
Once the borrowing by-law is passed, credit approval obtained, due diligence completed and documentation executed, the loan closes and funds are advanced.
Why Morrison Financial
Structured for
condominium corporations
Every CondoCorp Term Financing facility is structured to suit the governance, cash-flow and legal requirements of condominium corporations across Canada.
Request a loan proposalAmortization up to 25 years
Minimise monthly impact on each unit by spreading cost across a realistic timeline.
Competitive fixed rates
A fixed interest rate for the term of the loan — no surprises mid-term.
Progress draws
Available on construction facilities — funds advanced as milestones are certified.
Interest-only periods
Available during construction drawdown, where applicable to the project.
No personal guarantees
From unit owners or board directors, under our standard loan structure.
Common-expense repayment
Built into your existing budget structure — no new collection mechanism required.
Engineer-coordinated
Coordination with the corporation’s engineer, integrated into capital planning.
Canada-wide availability
Available to condominium corporations across Canada — except Quebec at this time.
Conditions & Governance
Additional oversight
— quietly built in
While it remains the corporation’s responsibility to ensure funds are properly deployed, our usual oversight can contribute to this end.
01
Engineering oversight
Where applicable, construction advances can be tied to certified milestone reports from the corporation’s engineer, helping to ensure funds are released as work is verified complete.
02
Construction advance certificates
Draw requests may be supported by a formal advance certificate addressing work completion, holdback compliance and lien-free status before funds are released.
03
Reserve-fund integration
Where helpful, we can coordinate with the corporation’s engineer to incorporate the loan into long-term capital planning — supporting reserve-fund compliance and fund health.
Beyond the Loan
What Morrison can provide
Apart from lending, and depending on the corporation’s needs, we offer advisory-level support to help Boards navigate the process from proposal to repayment.
Analysis
Cost of Waiting analysis
A comparative model showing how construction-cost inflation can outweigh the benefit of waiting for lower rates — helping Boards assess whether acting now is the more fiscally responsible option.
Attendance
AGM & Town Hall support
A Morrison representative can attend your owners’ meeting — virtually or in person — to field complex financial questions, relieving the volunteer Board of the pressure to act as financial experts.
Modeling
Reserve-fund cash-flow modeling
Where required, we coordinate with the corporation’s engineer to incorporate the loan into long-term capital planning — supporting reserve-fund compliance and fund health over time.
Proposals
Tailored loan proposals
Proposals typically include amortization scenario comparisons, monthly cost-per-unit breakdowns and clear summaries of all terms and conditions — ready for Board and owner review.
Common Questions
Don’t let inflation outrun
your savings on rates
Boards sometimes delay financing in the hope that interest rates will drop further. But construction costs have been rising significantly year over year. A lower rate on a larger project cost can result in higher total borrowing — and further deterioration of the building in the meantime.
Morrison Financial can provide a Cost of Waiting analysis on request to help Boards make an informed, evidence-based decision rather than relying on assumptions about rate movements.
Worked Example
Estimate a payment, in numbers.
Illustrative figures for a typical mid-size corporation. Enter inputs on the right to estimate the corporation’s monthly payment and the approximate cost per unit — or request a formal proposal for terms specific to your corporation.
Scenario · Illustrative
Corporation size
150 units
Project
Garage restoration
Loan amount
$2,000,000
Amortization
20 years
Term
5 years
Rate (illustrative)
6.50%
Estimate monthly payment
Illustrative · Not a commitment
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Figures produced by this calculator are illustrative only and not a commitment to lend.
Common Questions
The questions
Boards ask first
The structure we propose is built to answer these concerns — on paper, in advance of any vote. If something’s missing, a short call is usually the fastest way to address it.
A capital repair, reserve-fund replenishment, refinancing of an existing loan, or financing of a corporation-owned asset. The Board requests a proposal from Morrison.
A financing structure tailored to the corporation’s need, budget and owner profile — including amortization scenarios and monthly cost-per-unit breakdowns.
The Board brings the proposal to a vote under applicable provincial legislation. Morrison can provide Town Hall materials, presentation decks, and FAQ guides on request.
Once the borrowing by-law is passed, credit approval obtained, due diligence completed and documentation executed, the loan closes and funds are advanced.
Featured Transactions
Get Started
Request
a loan proposal
Tell us about your corporation and what you need financed. A member of our team will reach out to discuss structure and next steps.
