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Funding
Your Project |
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Through many years of assisting Churches successfully fund their
projects, we at Nation Investment Corporation have accumulated a
wealth of knowledge and experience that we would like to share with
you and your Church. From helping you determine how much your Church
can borrow, to guidelines on avoiding funding pitfalls, to a comparison
of the more common methods of financing, you can count on Great
Nation.
We would like to share some of that knowledge and experience with
you, which we hope you will find helpful:
- Work with a lending firm that has demonstrated an understanding
of Church financing. Ask that firm how their particular Church
loan differs from a conventional commercial loan. These differences
can have a major impact on future costs, and your Church’s
autonomy to efficiently manage its future operations and missions.
- Be certain that you have your financing firmly in place, and
in writing, prior to beginning your building project. This will
ensure that your project is started and completed in a timely
and orderly fashion. Hopefully, this may help to avoid costly
delays and the inconvenience of subcontractor liens being filed.
- Prior to tendering escrow dollars under an agreement to purchase
land or other real estate, be aware to entitlement, zoning, and
environmental issues. An experienced Church lender should be able
to assist your Church with these and other matters.
- Ask the lender and contractor for references from other Churches
with projects of similar size and scope. These references should
help you select the right financing partner to help your project
run as smoothly as possible.
- Select a lender that has the skill, knowledge and expertise
regarding Church operations and ministries, and is experienced
in Church lending. Inquire as to the number of years that they
have been lending to religious organizations, how many Church
loans have been made, and how large is their full-time Church
lending staff.
- Select an experienced Church lender that can serve as a consultant,
and can be a referral source for other Church industry professionals,
such as fundraisers, architects, CPAs, contractors and growth
planners.
- Avoid mortgage brokers and lenders that ask you to pay a deposit
prior to analyzing a loan application and offering a financing
commitment. Your Church should not have to pay a fee prior to
your reviewing the terms and conditions of a firm offer.
- Meet with your prospective lender to discuss the size and scope
of the project prior to spending large sums of money for architectural
designs that may be too costly to build.
- Do not rely on the sale of your current facility, or other uncertain
future events in order to provide for the funds to complete construction
of your project. Circumstances beyond your control could disrupt
your financial plans.
- Select a lender that has demonstrated years of consistent Church
lending. A new firm in the Church financing industry may not be
there when you need to refinance or begin the next phase of your
project.
Hopefully, these points will help your project run smoothly. At
Great Nation Investment Corporation, we have a nationwide network
of full-time Church lending professionals who are dedicated to meeting
the needs of Churches and the communities they serve. We believe
that this is the kind of dedication that you and your Church should
expect from your financing partner.
Get
Started Now!
If you have questions at any time, please don't
hesitate to contact us at:
GREAT NATION INVESTMENT
CORPORATION
Attn: Martin Northern Vice President and
Branch Manager
P. O. Box 1302
Benton, AR 72018-1302
Phone: (501) 316-3100 * (800) 468-3007
Fax: (501) 316-3110
Email: martin@martinnorthern.com
Great Nation is right for you!
Our professionals are standing by ready to serve. Meanwhile, we
look forward to becoming your financial partner in growing God's
Kingdom…one Church at a time…
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