San Antonio church lenders offer a number of different loan products to help ministries grow. Church lenders generally provide about half a dozen types of funding, meaning there’s one that will probably fit your specific needs best. These include funding for new construction, remodeling, and other purposes. Read on to learn more about San Antonio church lenders.
San Antonio church lenders can match ministries up with the best loan products for their needs and goals. Generally speaking, there are three types of church loan structures: short-term, long-term, and unsecured. As mentioned above, financing can be used for things like remodeling, new construction, or refinancing an existing mortgage.
Loan amount maximums basically depend on a ministry’s total tithes and offerings, minus expenses. A good rule of thumb is that church leaders will provide four times a church’s total tithes and offerings, fewer expenses. However, this can increase and go up to as much as six times a ministry’s ties and offerings, after expenses are deducted.
Because church ministries are structured in different ways than traditional commercial ventures, necessary documentation will also differ. Generally speaking, a church will need to provide at least some documentation, which may or may not include profit and loss statements, banking account information, tithing offering projections, and perhaps collateral.
This is only meant to provide a general overview of what church lenders offer and what those funds can be used for. Of course loan terms, interest rates, and other factors will depend on the specific church lender.