Church Loan – Wesleyan Investment Foundation

Church Loan Application

1Requirements

2Details

3Purpose

4Finances

5Support

6Affiliations

7Verification

Loan Process Info & Guidelines(Required)

Mortgage Loan Process Information

This application may take 10-20 minutes to complete if you have all the required information on hand. Your progress will be saved if you leave this window open. However, if you close the page, your progress will be lost.

Required Data

Completed WIF Loan Application.
Financial Statements (Balance Sheet, Income Statement) for the last three (3) years, year to date, and prior year to date.
Current Year Church Budget (showing income/expenses).
Signed Purchase Agreement if property is being purchased and/or Detailed Project or Construction Budget if property is being built or renovated.
Prior property appraisal, if one exists.

General Guidelines

Loan Terms up to twenty (20) years, with longer payment amortization if needed.
Maximum Loan amount should not exceed three (3) times annual tithes and offerings and should not exceed 75% of the project cost or purchase price in most cases.

Pricing & Fees

Loan Interest Rates are typically fixed for three (3) years and adjusted every three (3) years thereafter to WIF prevailing Interest Rate at that time.
Interest Rates are subject to change up until Loan Closing, unless noted otherwise.
Loan Servicing Fee of 1⁄2 % to 1%, with $300 minimum.

I have read the Loan Process Info & Guidelines

Church Details

Church Name(Required)

Church Federal Tax ID #

Church Mailing Address(Required)

Street Address City State ZIP Code

Church Email(Required)

Church Phone(Required)

Church Website

How did you hear about WIF?(Required)

Name of Coach, Mentor, or Overseer

Denomination or Association(Required)

Conference or Event(Required)

Name of Podcast / Social Media

Other

Primary Loan Contact

Name of Primary Loan Contact(Required)

Email for Primary Loan Contact(Required)

Phone for Primary Loan Contact(Required)

Authorized Contacts

Add additional authorized church loan contacts?

Yes

Authorized Contact

Name	Phone	Email	Actions

There are no Authorized Contacts.

Church Information

Lead Pastor's Name

Lead Pastor's Email

Years With This Church

Is the church incorporated?

Month Fiscal Year Ends On

Year Church Was Organized

Attendance

Average (weekly) number of in-person attendees (include adults & children)

Now(Required)

One Year Ago(Required)

Five Years Ago

Loan Details

Amount of Loan(Required)

Loan Term?(Required)

Reason For Loan (check any/all that apply)(Required)

Purchase of an Existing Facility

New Construction/Remodeling

Land Purchase

Refinance (WIF typically requires all non-WIF debt to be refinanced.)

Other

Other(Required)

Does the church currently own a church building?

Purpose of Loan

General Summary of Loan

Purchase of an Existing Facility

Address of Facility to be Purchased

Street Address City State ZIP Code

Estimated Purchase Date

Purchase Price

Appraised/Estimated Value

Total Square Footage

Total Acreage

Cost of Renovations Needed

Current Seating Capacity

Proposed Seating Capacity

Describe proposed use of buildings and grounds.

New Construction / Remodeling

Address of Building/Location for Construction/Remodeling

Street Address City State ZIP Code

Type (sanctuary, education, etc.)

Proposed Seating Capacity

Approximate Square Footage

Work Has

Estimated Start Date

Estimated Length of Construction

Land Purchase

Purchase Price

Appraised/Estimated Value

Purchase Date

Acreage

Street Address or Nearest Intersection of the Land's Location

Street Address Address Line 2 City State ZIP Code

Proposed Use

Current Owned Building Information

Church Physical Address

Street Address City State ZIP Code

Year Built

Year Last Remodeled

Seating Capacity

Approximate Square Footage

Please provide a summary of the general condition of building and state repairs needed.

Parking Lot Size / # of Spaces

Acreage

Who holds title to current church property?

Appraised/Estimated Value of All Church Property, Land, & Buildings

Source of Value

e.g. appraisal, broker, real estate agent, past sale...

Other Buildings Owned

Does the church currently own other buildings?

Other Building Details

List building use or description.

Please list address(es) for additional building(s).

Give general condition of building(s) and state repairs needed.

Partnership & Affiliations

Is your church affiliated with an Association, Conference, Network, or Denomination?(Required)

Partnership & Affiliations Details

Primary Association, Conference, Network or Denomination(Required)

ARC Affiliation(Required)

Converge Region(Required)

Nazarene District(Required)

Wesleyan District(Required)

Name of Other Denomination, Association, or Network (begin typing to see a list of possible matches, or type Other if your entry has no matches)(Required)

Has the building project been discussed with the Conference or District personnel?(Required)

Will the Conference or District guarantee this loan?(Required)

Please provide details regarding financial support from partnerships or affiliations, if any.

Questions?

Have questions about the church loan application process? Please contact the WIF Loan Team at (317) 774-7300 or email loans@wifonline.com.

Unpaid Balance	Monthly Payment	Interest Rate	Year of Maturity	Actions

There are no Additional Debts.

Church Loan Application

Mortgage Loan Process Information

This application may take 10-20 minutes to complete if you have all the required information on hand. Your progress will be saved if you leave this window open. However, if you close the page, your progress will be lost.

Required Data

General Guidelines

Pricing & Fees

Church Details

Primary Loan Contact

Authorized Contacts

Church Information

Attendance

Loan Details

Purpose of Loan

Purchase of an Existing Facility

New Construction / Remodeling

Land Purchase

Current Owned Building Information

Other Buildings Owned

Other Building Details

Financial Information

Financial Documents

Upload Required Documents

Support

Building Fund/Capital Campaign Details

Sources and Uses

Use of Funds

Source of Funds

Sources and Uses of Funds – Total

Partnership & Affiliations

Partnership & Affiliations Details

Verification

Questions?