Griffin's Simple Church Loan Process | Quick Easy and Efficient

Griffin’s SChurch Loan Process | Quick Easy and Efficient

Griffin’s Simple Church Loan Process:

griffin's simple church loan processGriffin’s Simple Church Loan Process is designed to be quick, easy and efficient with the goal of delivering an answer within one business day.  Under normal circumstances, we can make a decision on whether a loan has merit with our simple one-page application and the last three years plus a year to date Profit and Loss Statements and Balance Sheets of the church.  If only partial financial statements are available, then we will do our best to make a decision with the information that is available.  If the church does not have financial statements, we can provide (free) simple forms. The church can complete the form to create their financial statements.

How Do We Process Your Loan?

Once we have the financial statements and one-page application, your loan will be reviewed by an experienced church loan analyst.  The analysts will review the details of the transaction as well as the credit of the church and other important factors to determine what we can offer.  The analyst will then draw up a simple to understand loan proposal. This will detail the terms of the loan, interest rate, and fees we will charge for the loan.  Once you agree to move forward with the proposal, we will introduce you to your loan processor. The processor will gather whatever remaining documents are needed so that your analyst can complete the Credit Memo for your transaction.  Once the Credit Memo is completed your loan will be presented for approval; usually in this stage an underwriter will come back with additional questions and possibly even requests for additional documentation.  We will answer any necessary questions and provide any additional documentation.

Griffin’s Simple Church Loan Process: On Approval

When your loan is approved, your processor will work closely with you to complete all of the necessary due diligence items like the appraisal and title work.  Once we receive a clear to close from the underwriter, we will set a time and location that are convenient for you to close the loan.  If your loan is for the purchase or refinance of debt, then the loan will be fully funded at closing.  If your loan is for the construction or significant renovations of a property, then you will likely receive draws based on stages of the project, and you will likely make interest-only payments on your draw balance during this period.  Once the construction is completed, your loan will be turned into a permanent loan, and you will make interest and principal payments.

Requirements Vary As Per Loan Programs

Different loan programs have different requirements and different underwriting standards.  For those churches that are facing foreclosure or bankruptcy we often need fewer documents because the loan is primarily based on the value of the collateral and less on the financial strength of the church.  For those churches that are seeking one of our longer term fixed rate products, like the 30 year fully fixed church loan, full financial statements, as well as other documents, will be required.  As a general rule of thumb the lower the interest rate and the longer the fixed term, the higher the underwriting requirements are to qualify for the loan.


10 thoughts on “Griffin’s SChurch Loan Process | Quick Easy and Efficient”

  • Greetings, I am interested in applying for a loan to purchase a church building or build a new construction.

  • Greg Gilliam says:

    We are looking into loans … we have an construction loan right now —it comes due in November — we built a new build it appraised for 550,000.
    Loan amount needed is $330,000.
    Were a small church of 50 grown last year from 30
    Monthly income is 6,000.
    Look for fixed rate 30 years
    We are no other bills
    Also in process of selling our old building for $130,000
    We might have to owner finacnce this for them.. they are paying $20,000 down

    • admin says:

      Good morning. Mason Welch will be contacting you today via email. His direct line is 540-412-5111 if you would prefer to call him.

  • John Weiss says:

    Loan request is 2.5 X plate income
    AME church; 13 years old; stable
    we have a full U/W package
    Church Est. value is $2M
    Want $1M which includes $200K for renovations
    your rates are better than Bank’s depending on your fees

    • admin says:

      Hello, I will have Song Quichocho contact you today to answer your questions. Thank you for contacting us.

  • Fabiola Ilus says:

    Hello, our church has been around for almost 20 years. We are looking to purchase our own building now. Please have someone contact us to discuss options. Thank you

    • admin says:

      Hello, I will have Song Quichocho, Senior Loan Analyst, email you. His number is 800-710-6762 ,Extension 109.

  • Pastor Trevesis Foster says:

    My Name Is Pastor Trevesis Foster I Wanted To Find Out About The Church Loan , Our Church is seeking Funds to get us a Building To Worship In

  • Pastor Trevesis Foster says:

    Our a church Is Seeking A Church Loan to Rent A Building For Our Church Members To worship At Can You Guys Provide Assistance to Us

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