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Loan Process

Loan approval is essentially a four step process. The first two steps in the process are the gathering of documents and an assessment of the project.  The last two steps is the internal review of the board and the preparation of closing documents to be recorded.  The majority of the first two steps are the responsibility of the local church, while the last two steps of the process are the responsibility of the Loan Fund.

To begin the process for your church you may download an application,  submit a quick loan inquiry form online or call our Director of Lending Services to tell us about your project. If you are ready to apply for a loan and get a good start to your project, submit the following documents for review and our Director of Lending Services will contact you.

  • Application fee of 1% of the loan amount. Loan applications will not be considered by the Loan Fund Board until the fee is received. (Fee will be refunded if application is not approved.)
  • Minutes of the local church meeting approving the loan, including the number of members voting, results of the vote, and the signature of the pastor and church secretary.
  • Church Financial Reports (standarized forms are available in the application or we can accept a Balance Sheet and Income/Expense Reports for the past 12 months. 
  • Conference board minutes granting approval for the loan and signed by conference superintendent and conference secretary.
  • Certified real estate appraiser's report on the property and/or building(s).
  • For existing building(s), description of the structure(s) including age, size, building materials, pictures inside and outside, and purchase price.
  • For new construction, a bona fide contract or realistic estimate of cost of new construction by a licensed contractor.
  • For new construction, a copy of building plans / blue prints and specifications.