We are Church loan experts and as such we recognize that not one shoe fits all feet. We have a number of different church loan programs to help your ministry meet its objectives quickly and easily.
If your Church has been in business at least 3 years and is looking for a Church loan collateralized by real estate of at least $50,000 we probably have a program for you.
Examples of programs: These are traditional church loans and not church bonds.
Easy Qualifier Program: This is our most lenient church loan program and is generally used for two different purposes. When a Church is growing quickly and can not support the proposed new church loan payment on a historical basis according to traditional bank standards this is a good program. This is also a good program when a Church is in a turn around situation; maybe they have had some membership declines and are having difficulty being approved under bank standards. The rates are slightly higher but a Church can borrow up to 4.5 times its gross income. No personal guarantees are needed.
Traditional 5/25 and 5/20: This is a traditional church loan program and offers some of the very best rates around for Churches. Loan to values go up to 80% and rates are extremely good. This church loan program uses a traditional debt service coverage underwriting method to qualify a church. No personal guarantees needed on this loan.
90% Purchase Program: A Church that is buying a building at a discount from its fair market value can use part of the equity in that property to decrease their down payment. For example, if a church is purchasing a property that is worth $1,000,000 and they are buying it for $700,000 then in some circumstances we would only require a down payment of 10% of the purchase price ($70,000 in this instance). Rates and terms on this program are excellent. The maximum loan amount under this program is 3 times the churches gross income. No personal guarantees are required on this program.
If your Church needs financing we want to help you!