CHURCH LOAN REQUIRMENT CHECKLIST
The following items are required by Church Capital Corporation in order to process a Church loan.
Sole Ownership Vesting Options:
- 1. Copy of Articles of Incorporation.
- 2. Copy of Church By-laws.
- 3. Last 3 years and year-to-date profit and loss or operating income statement.
- 4. Photocopies of last 12 months’ bank statements.
- 5. Letter of Resolution: A letter on Church stationery authorizing Church Capital Corporation to arrange the loan, stating the amount of the loan and who is authorized to sign on behalf of the Church. This letter must be signed by a member of the Church who is listed with the Secretary of State as the Church Secretary and will not be signing the loan documents.
Click Here To View A Sample Letter of Resolution
- 6. Current Balance Sheet.
- 7. Information on any existing mortgage(s) on Church Property. Name, address and phone number of lender as well as loan number and outstanding principal balance.
- 8. Seating capacity of sanctuary and current number of regular attendees.
If you are unsure about an item on this list, or would simply like further clarification of what is required in order to process your loan, please don’t hesitate to Contact Us with any questions you might have about the loan process.