Who would believe that churches would have a difficult time securing church financing? That’s right, churches run into the same obstacles as many small business owners when it comes to obtaining loans and working capital. Small Business Funding (smallbusinessfunding.com) has relationships with numerous alternative lenders who specialize in providing church financing to all places of worship.
Needs For Church Financing
Churches need a lot of maintenance and upkeep, which requires funding. Updating the exterior, interior, and school worship halls can cost tens of thousands or even hundreds of thousands of dollars. While older churches look to keep the historical and traditional “feel” of their structures, there are those that prefer a more contemporary look. Either through acquisition of another location or building a brand new building alternative lenders are available to support your church financing needs. Church equipment like a lectern, communion tables, or pulpits can add up when outfitting a church. Sometimes due to the non-profit orientation, or poor credit rating a bank can turn you away for a loan. Alternative lenders understand these circumstances and look past situations like these to provide fast capital loans. The SBA also understands the needs of faith-based businesses as they have a Faith-Based Summit
Church Financing For The Future
Small Business Funding works diligently on your behalf to guide you through this relatively hassle free loan process. While this process is not cumbersome, it is time consuming. You need to pay attention to your church duties while we do all the leg work to negotiate with each and every lender to get you the best rate and best terms. While the rates for these type of short term loans are higher than that of a traditional bank loan they do provide a much needed benefit. To repeat what was outlined prior, alternative lenders realize they are working in a high risk environment. They develop underwriting within the confines of these risk parameters that enable them to properly fund deals that banks won’t. Church financing is considered high risk and therefore alternative lenders are your only option for church financing loans. Bad credit, type of business, time in business, and cash flow are what determine how much of a loan you can receive.
To see how much church financing you can receive please apply online or call us directly at 1-800-742-2995 for a loan today.