Church Financial Lending for new building
I realize that this is on a bit of a larger scope than media ministry but I know that there are lots of knowledgeable people here. My church will be buying property and will start building a new church soon. First off, prayers for this endeavor is very much needed and wanted. We have $90-100 thousand in the building fund now and that would buy the property that we are looking at but we would still have to take out a loan for the building. The thoughts are that we should take out a large enough loan to cover the property and building, that way we would have money for the loan down payment since we are being told that property is not regarded as collateral on a loan the way it once was. We would really appreciate any advise or experiences that you all may have on financial institutes that specialize at loaning to churches. We are located in Dickson, TN.
Thanks and God Bless,