Deal Summary:

Griffin Church Loans provided a $500,000 loan to New Life Church of God in Christ to complete a 3,000 sq ft addition and facility upgrades. The loan was secured by the campus with a combined project value of $1.67 million, resulting in a 29% LTV.

FAQ:

Q1. What type of loan did New Life Church of God in Christ in Fort Lauderdale, FL 33311 receive?

A1. New Life Church of God in Christ in Fort Lauderdale, FL 33311 secured a Renovation/Addition loan through Griffin Church Loans. The transaction was structured at approximately 29% loan‑to‑value (LTV), aligning the financing with the church’s needs and long‑term ministry goals.

Q2. How long does it take to close a church refinancing or purchase loan?

A2. Most church loans close in 30–60 days once we receive complete documentation. Fewer moving parts—like straightforward refinances—can go faster; complex construction or multi‑parcel deals may take longer.

Q3. Can smaller congregations qualify for six‑figure church loans?

A3. Yes. We underwrite based on overall financial health, property value, attendance trends, and leadership stability—not just size. Many smaller churches have qualified for $100k–$1M+ loans with sustainable payments.

Q4. What factors determine a church loan’s interest rate?

A4. Rates are influenced by market conditions, loan term and amortization, collateral value, debt‑service coverage, and overall financial trends. We quote competitively and design structures that fit each ministry.