 See How Much You May Qualify For
Advantages of Financing with Us! More
| Fixed Interest Rate |
Avoid variable interest rates which typify conventional financing. |
| Fully-Amortized |
Payments retire both principal and interest over stated repayment period, building equity for your church by regular retirement of debt. |
| Permanent Financing |
Eliminates costly interim construction financing or periodic re-financing. |
| Flexibility |
Allows the Church to obtain additional financing in the future for expansion or remodeling without refinancing its first mortgage. |
| Avoid Balloon Payments |
There is no need to set aside large amounts of money or seek replacement financing in upcoming years. |
| Prepayment Privilege |
Bond financing may be paid off early. Modest prepayment charges may apply only in the first 2 years. |
| No Personal Guarantees |
Avoid personal guarantees of officers and membership, which other lenders often require. |
| Avoid Restrictive Operating Covenants |
Unlike banks, our financing program doesn’t require you to restrict future borrowing, maintain minimal cash deposits, or sustain financial performance “ratios” after your loan is funded. |
Preliminary Evaluation... More
To evaluate a financing application, American needs to review the following:
| Financials |
Financial statements of the church’s last three fiscal years and current period (if available) including income statements and balance sheets. |
| Appraisal |
Estimated appraisal value of the property to be mortgaged to secure the financing. If one is not available, we will consider the “book value” of the church’s real property. |
| Use of Proceeds |
Itemized list of the intended us of the requested loan proceeds. |
| History |
A brief history of the church including date of origin, denominational affiliation, if any, membership and attendance figures. |
| Resume |
A brief resume or biography of the church’s senior pastor. |
| Project |
A brief description of the proposed construction or renovation project (if applicable). |
| Loan to Value |
Loan amount should not exceed 75% (after loan proceeds are applied) of the value of the church property. |
| Loan Size |
Loan amount should normally not exceed three times the church’s last fiscal year’s total support and revenue. |
| Ability to Repay |
The church must demonstrate the ability during its preceding two fiscal periods to comfortably repay the anticipated mortgage loan. |
| Construction |
In renovation or construction projects, the church must engage an independent general contractor under a firm fixed-price contract. |
| Non-Profit Corporation |
This unique financing opportunity is available exclusively to those organizations deemed "non-profit" organizations by the Internal Revenue Service, such as churches and schools. |
Preliminary Questionaire... More
Click here to download the printable Preliminary Questionnaire to mail or fax.
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