Church Loan Pre-Flight Checklist

Assemble the materials on the checklist below to gain a headstart on the loan process. Having the materials in-hand prior to your first meeting with a loan officer will help you prevent unnecessary delays.

Financial Information

• The current and past three years of financial statements prepared per Generally Accepted Accounting Principles (GAAP)
  • Balance Sheet 
  • Income Statement
     
• Average weekly or annual tithes and offerings
   
• Current debt load
   
• Banks statements for at least past 3-months
   
• Payment/check for loan application (if needed)

Church information

• Denomination and background
  • History of your church (include key events and dates, changes in leadership, faith stories)
     
• Pastor bio and contact information
  • Include home address, phone number, email address
  • (Regarding pastor, disclose any relationship to church officers, board members, or senior leadership)
     
• Church senior leadership bio’s and contact information
  • Include titles, home addresses, phone numbers, email addresses
     
• Current and proposed locations
   
• Mission and vision statements
   
• Current weekly attendance
   
• Copy of current constitution and bylaws
   
• Copy of Articles of Incorporation with amendments (filed with the state)

Property information

• Copy of title policy or grant/warranty deed, mortgage, or deed of trust with the attached legal description.
   
• Verification that the property is exempt from real property tax
   
• Survey of the property
   
• Current market appraisal (Comps or best estimate. The lender will perform their own appraisal.)
   
• Pictures of all church assets or properties to be utilized for collateral

Project information

• Goals and purpose for the loan
   
• Estimated budget
   
• Estimated loan amount
   
• Estimated time-frame

Capital campaign information

• Brochure or documentation (if available)
   
• Time-frame
   
• Dollars raised to date
   
• Projections of total campaign
   
• Previous campaign history 
  • (Have other campaigns been successful or completed?)

Authorization

• Documentation authorizing the loan amount and authorized signatories to conduct legal and financial matters on behalf of the church.
   
• Contact information including name, address, phone number, and email address of outside accountant or CPA.
   

Contact Eden Religious Facilities to speak to one of our advisors.