Church Financing Tips for 2021
2020 was tough, and we hope that all of you are ready to take on 2021! While we still face a lot of uncertainty, we hope that the renewed spirit that comes with the new year will help you get ready. Here are financial tips for 2021 and how can Griffin Capital can help your church:
Financial tips for the new year:
- Continue to support your congregation though webcasts and video. Let them support the church in return through electronic offerings.
- Evaluate the overall financial health of your church. Get rid of un-needed debt, consolidate the debt that you can, and review the interest rates of all church loans. If you think that your church would benefit from a refinance to lower interest rates and payments, then start the process.
- Create a budget for your church for the year and track the budget monthly to make sure you are meeting your goals.
How can Griffin Capital help your church?
Griffin Capital Funding is here to close your loan with competitive rates and terms. We are a national company with creative loan programs that a local bank does not. We have 5, 10,15, and 20-year fixed rates available with up-to 25-year amortizations. We close loans for the refinance, purchase, construction, renovation, debt consolidation of most properties owned by a church.
If your church has been negatively affected by COVID, we also have loan programs to help you recover. This includes churches with bad credit, imminent foreclosure, and bankruptcies.
A few examples of our latest work:
Church Refinance on the West Coast: This church came to us with a high interest rate private loan. We cut their interest rate by 4% saving them $38,000 annually. We also fixed their rate for 10-years! Now, they have lower payments, and they can pay down their loan without worrying about fluctuating rates.
Church Refinance in Tennessee: We consolidated their debt and provided the cash needed to make some renovations to their building. We provided a 7- year fixed rate amortized over 20 years. Another church that can take a deep breathe!
Church Purchase in Texas: This church was buying the building that they had been leasing for the past 9.5 years. We closed their loan and provided some capital requested to make renovations. The church will be saving $52,000 annually by owning rather than leasing. We provided a 15-year fixed rate amortized over 15 years.
If your church is ready to find out more about our loan programs, then give us a call: 800-710-6762. We are here to guide you and make the process easy.