Loans - Qualifying for a Loan

Eligible Loan Purposes

Eligible Borrowers

Prioritization

Qualification Criteria

    

Who Is Eligible for a Church Extension Loan

Church Extension exists to help channel the energy of the Great Commission into physical form - including facilities and new congregations. We make loans to congregations for building new and renovating existing facilities for ministry. We also make loans to finance property purchases, furnishings, and other related ministry purchases.

The purposes for which loans may be made are:

Property purchases

• Land
• Existing buildings for borrower use
• Property adjacent to or in proximity to borrower facilities
• Property for use in the borrower's current or future ministry

Construction (hard and soft costs)

• New construction - sanctuaries
• New construction - first units
• New construction - second units
• New construction - other additions
• New construction - relocations
• Renovations/remodeling/roofs/accessibility
• Mechanicals (HVAC/utilities)
• Landscaping
• Parking

Refinancing of existing loans for listed purposes

Furnishings and equipment

• Furnishings, pews, kitchen equipment, etc.
• Interior decorations (carpet, draperies, etc.)
• Organs - pipe
• Organs - electronic
• Other musical equipment
• Office equipment/furniture
• Mobile/relocatable facilities
• Vehicles (vans, buses)
• AV, sound and computer equipment

Services Architectural Fund raising - commercial and Church Extension Project soft costs (legal fees, closing costs, interest during construction, etc.)

Non-traditional needs

• Lines of credit for Regions, General Units, colleges, seminaries, recognized organizations, and congregations with 175 or more in average worship
• Special projects
• New ministries
• Outreach projects