Church Repair Refinancing
Churches are just like any other building they age over time. They will undoubtedly need improvements. This means injecting cash. Refinancing is vital right now because interest rates are climbing. It is wise for all churches to be proactive. They should evaluate their buildings and its future needs for the next 5 years. Sometimes these repairs pile up, or you are facing one major problem. Major building issues include a new roof, heating and air system, and windows. Many churches are facing unexpected weather-related repairs from all of the recent storms. With aging buildings, updated safety-code requirements may need to address. This is when it is time to consider a church repair refinance.
It is wise for all churches to be proactive.
When the price tag is too high, or the costs are adding up, it may be time for a church repair refinance. Refinancing, especially if your balloon date is approaching, can lock in a lower interest rate. It also allows you to pull cash out for your improvements.
Church Repair Refinancing & Griffin Capital Funding
We just helped a church in Columbus, OH that was facing a high priced repair. They needed a new roof, and the estimate came in at $150,000. They were not expecting such a steep repair cost. The church did not have the funds readily available to fix their roof. They realized that the roof repair was essential to the healthiness of their building. So, they contacted us for a church repair refinance.
Refinancing is vital right now because interest rates are climbing. It is wise for all churches to be proactive. They should evaluate their buildings and its future needs for the next 5 years. If there are any significant repair needs or a laundry list of other building needs, then we recommend church repair refinancing. Right now rates are low enough to save you money in the long term. This also applies to churches thinking about expansions and remodels.
If your church is facing repairs, then give us a call at 800-710-6762. You can speak to one of our loan analysts. They will discuss your financing options and find the right loan program for your church. We can help with every type of church repair refinancing with low rates and great terms.