Bank loan for self development of the society

The facts given are not sufficient to give any legal advise.Generally speaking if you have faith in PMC ,have knowledge of the security being offered for loan, and you are satisfied that if the society defaults in repaying the loan you indidually will not be in any trouble, there is a machenism in the society to ensure that hte loan shall be utilised for the purpoose it being obtained, are the points you should think before giving your consent .

PMC has just given us rough estimate, we dont have plan for the new structure. So before that i m wondering how can member should give full consent to the bank before knowing his complete in details liability.

Does bank sanction loan without these concrete documents.

My question is, is it wise to give consent without knowing or having all the actuals on paper.