Deal Summary:

Griffin Church Loans provided Christ Restoration Ministries International with a $62,500 land purchase loan at 8% interest, 5-year term, 15-year amortization. The church put down 50% toward the $125,000 property. With strong reserves and income growth, the purchase secures space for future expansion.

FAQ:

Q1. Can a church get financing to purchase land?
A1. Yes. Many lenders provide land loans when the church has plans for future construction and reserves.

Q2. How does land acquisition support growth?
A2. It secures a site for phased construction as membership expands.

Q3. What is unique about financing raw land?
A3. Land loans require larger down payments, shorter terms, and stronger reserves.

Q4. What follows after purchasing church land?
A4. Churches often move toward construction loans, then permanent financing.