CHI provides financing for: Property Acquisition, Remodeling and Life Safety Projects
Student Housing has become big business. Not only are today’s students more demanding of a quality living environment, but both universities and private developers are spending tremendous amounts of money to attract the growing student populations.
Now, it is more important than ever that the necessary talents and investments are focused on our chapters and their living environments. The fundamental breakdown facing many fraternity house corporations is the inability to fund the necessary ongoing maintenance and capital improvements to the facility. This creates a damaging spiral where maintenance is deferred, major expenses delayed, and the chapter house erodes into a living environment that pales in comparison to the competition.
Loans may be for the purpose of purchasing, constructing, renovating, rehabilitating, or refinancing. Commitments may be made for the guaranty of real estate loans made by other parties. Said loans or guarantees will be secured primarily by a first or second lien on real property used or intended to be used for the lodging or housing of Sigma Chi members.
The primary consideration in extending credit is the credit worthiness of the applicant. Acceptable debt service coverage and adequate cash flow are important elements of the credit decision. CHI will utilize underwriting standards and documentation procedures that are generally followed by regulated commercial financial institutions. Applications must be submitted in complete form and in accordance with the application guidelines supplied by CHI