HOA loan from private intestors

I do believe that the loan paperwork would be considered part of the records of the Association and as a member of that association you would have a right to see it.

This may or may not be the same as asking for a list of the investors. If the loan is provided by xyz company, that's the name that would be listed on the loan paperwork. The Association wouldn't be required to provide you with a list of who makes up xyz company.

If you believe that you are being denied access to records you have a right to see, FL 720 provides a remedy for that:

(5) INSPECTION AND COPYING OF RECORDS.--The official records shall be maintained within the state and must be open to inspection and available for photocopying by members or their authorized agents at reasonable times and places within 10 business days after receipt of a written request for access. This subsection may be complied with by having a copy of the official records available for inspection or copying in the community.

(a) The failure of an association to provide access to the records within 10 business days after receipt of a written request creates a rebuttable presumption that the association willfully failed to comply with this subsection.

(b) A member who is denied access to official records is entitled to the actual damages or minimum damages for the association's willful failure to comply with this subsection. The minimum damages are to be $50 per calendar day up to 10 days, the calculation to begin on the 11th business day after receipt of the written request.

(c) The association may adopt reasonable written rules governing the frequency, time, location, notice, and manner of inspections, and may impose fees to cover the costs of providing copies of the official records, including, without limitation, the costs of copying. The association shall maintain an adequate number of copies of the recorded governing documents, to ensure their availability to members and prospective members, and may charge only its actual costs for reproducing and furnishing these documents to those persons who are entitled to receive them.

I don't believe it is a registered corp or LLC but a group of people with money, some of them believed to residents of our community. That is the problem. I am concerned they are members of the HOA BOD or a relative collecting 7 percent interest on a more than $1 million loan. Thanks for your response.

Given that there seem to be too many golf courses in some parts of the country, and that some are closing, 7% may be a fair rate for this loan.

On the other hand, depending on when this decision was made, the choice to purchase a golf course may have been ill-advised.

Getting a loan from your bank is fairly straightforward: simply call or visit your local bank or a national bank such as Citibank and ask about the requirements for getting a small business loan.

Yes. I read this thread before posting the reply. but why are you asking me this type of question?