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Contact. Contact us and we’ll send you current loan rates and refer you to the following steps. |
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Review. Congregation compiles required information see below. We’ll conduct an initial review (a simple underwriting test) to determine if your congregation qualifies for a loan. |
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Application. If your congregation qualifies, we’ll send you a loan application and letter of terms. Once you complete the application, return it along with other required documentation to Church Extension staff by 5 p.m. EST on any Tuesday for consideration at the next Church Extension staff loan committee meeting. |
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Approval. We’ll conduct a final review of your loan application then forward it to the staff loan committee for approval. Note that high-risk loans or loans in excess of $1 million require approval of the Church Extension Board of Directors loan committee. |
Loan Documentation & Disbursement
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Documentation. In preparation for disbursement, we’ll request any required final documentation, such as title work. |
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Disbursement. We send you money! |
Required Information for Loan Application & Initial Review
- Income/Expense statements: Three previous years, plus current year
- Property value: Appraisal value, or if unknown, please supply the insurance value and total square footage of the facility.
- Balance sheet of three previous years, plus current year.
- Congregation Statistics: Average worship attendance, participating membership, and number of giving units (or number of tax statements issued last year).
- Project information: Includes bids for renovation or construction, purchase agreements, and any other relevant documentation.
- Statement: Brief statement describing the loan purpose and repayment options (such as capital campaign, operations budget, fundraising, or rental income).
Contact info@churchextension.org to find out how we can partner with your ministry.
Or call 800.274.1883
En español: 866.534.1949