|to borrow or not to borrow?||<– Date –> <– Thread –>|
|From: Seasons of Food (seasonsoffoodhccgmail.com)|
|Date: Mon, 23 Mar 2015 14:07:32 -0700 (PDT)|
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?
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