Church Loan Application / Process

When a borrower applies for a church loan, the applicant should understand that there are certain steps that must be successfully completed.

Purchasing, Refinancing or Construction of a Church require the following information in order to process the loan:

• Financial Statements (last 3 years) ;
• Year-to-Date Income Statements, Expense Statements and Balance Sheets;
• History Narrative of the church including the Leadership and Minitry team(s);
• Attendance Reports which include detail figures of monthly attendance  
• Articles of Incorporation and Bylaws.  

Additional Specifications for a Construction Loan

If the borrower is asking for funds to construct a church, they must provide information including but not limited to the following:

• Size of the building,
• Cost estimates and
• Type of construction.

The loan application will be approved or denied generally within a week.  Prior to approval of the loan, the following are also REQUIRED: 

• Meeting(s) - this meeting is between the church leadership/administration and the lender.  The purpose of these meetings are to:

                  (1) to gather any additional information as needed,

                  (2) Meet the leadership and/or administration team(s), and 

                  (3) To understand the operations and budget of the church;

• On-site view of the subject property;
• Forecast Reports - to determine the future (forecasted) income of the church after the completion of the proposed financing.

Most importantly....we are "The Commercial Specialist"

The process of obtaining a church loan can be difficult with some lenders, but if you identify the aggressive and knowledgable lender, which specializes in the above mentioned loan products... you will find the process easier than you think.

Metropolis Lending LLC