Loans for Facilities and Land
Baptist Church Loan Corp. provides loans to churches that are affiliated with the Baptist General Convention of Texas. Loans can be for new construction, remodeling, purchasing existing buildings, purchasing land or refinancing existing debt on more favorable terms. A typical loan would be for up to 75% of the appraised value of the land and facilities and amortized for 15 years. Shorter-term loans based on capital fund raising pledges also are available. The loan minimum is $25,000 and the maximum is $3 million.
The Baptist Church Loan Corp. staff members will help your church and its building committee work through issues related to how much debt your church can afford. Also, BCLC’s web site contains a handy calculator to help determine the maximum debt your church should consider.
An online calculator for determining the monthly payment required on a 15-year note using the Baptist Church Loan Corp. current lending rate is available at the web site.
Financial planning provides a church with helpful hints about how much debt it can afford, creating a building budget and determining what funds will be available for the project. Careful financial planning is essential and vital to the success of any building project. A summary of Baptist Church Loan Corporation lending guidelines including loan-to-appraised value ratio, debt-to-income ratio, loan amortization term, interest rate and required legal documents is available.