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.
- 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)
- 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)
- 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
- Goals and purpose for the loan
- Estimated budget
- Estimated loan amount
- Estimated time-frame
Capital campaign information
- Brochure or documentation (if available)
- Dollars raised to date
- Projections of total campaign
- Previous campaign history
- (Have other campaigns been successful or completed?)
- 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.