Church Real Estate Loan Checklist
- • Loan Amount requested
Loan purpose and use(s) of Loan proceeds
Financials:
- • Latest 3, yearâ��end financial statements
- • Latest interim financial statement (within 60â��days of loan request including Balance Sheet)
- • Summary of church attendance and collections for current period and past 3â��years
- • Summary of existing financing (Balance, due date, mortgage payment, prepayment penalty, etc.) or copy of the mortgage note (s)
- • Debt schedule
Property/Collateral:
- • Address(s)
- • Color digital pictures
- • Property S.F. and building schedule with breakdown of individual building S.F. and acreage
- • Total property Acreage
- • Legal description (if available)
- • Age, date of most recent renovations/construction and cost of renovation/construction
- • Estimated value (include most recent appraisal if available)
- • Leases (include any third party leases of church property)
- • Church school description if applicable (enrollment, classrooms, etc.)
Borrower(s):
- • Borrower legal structure
- • Corporate documents
- • Copy of 501c 3 IRS Exemption
- • Statement of Faith
- • Bylaws
- • Guarantors (if available)
- • Year established
- • Summary of church leadership and brief Bios of Board of Directors
- • Resume’ of senior Pastor and tenure with the church, and brief bio of other key clergy
- • Current number of members in the congregation, and Year End congregation numbers for the last 3â��years, and % of congregation by age group by age group if possible