Cohousing-L Mailing List: to borrow or not to borrow?

[Seasons of Food (seasonsoffoodhcc]

We’re a new yet-to-be built co-housing community. Equity members have invested 
$20,000 to our collective pot. We hope to break ground in July 2015 and will be 
borrowing at 5.5% interest. There are mixed feelings about borrowing, some 
support borrowing from the bank, others think we should ask for voluntary 
contributions from EMs that can “afford” it  (so far 4 of 13 EMs have pledged 
$100K for a lower interest return than 5.5%), and yet others feel we should ask 
for a next instalment of funds from everyone, like 10-20% of unit cost. Some 
are afraid that we will lose EM’s as perhaps not everyone can access the funds 
currently. What have others’ experience with this sensitive item been and what 
is most successful?