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Church Loan Application

1General Info

2Loan Details

3Currently Owned Property

4Financial Info

5Partnerships & Affiliations

6Verification

LOAN PROCESS INFO

Before proceeding please review our Loan Process Info & Guidelines.
View Loan Process Info & Guidelines
WIF Loan Process Acknowledgement*
- I have read the WIF loan process Info & guidelines.
GENERAL INFO
Church Name*
Church Federal Tax ID #
Church Phone*
Church Email*
Church Website
How did you hear about WIF?*
LOAN CONTACT INFO
Here you will include contact info for the primary contact person for the entire loan process. You may also add additional authorized contacts.
Name (Primary Contact)*
Email (Primary Contact)*
Phone (Primary Contact)*
Would you like to add another authorized loan contact?
To be given access to view/edit this application and receive updates about the loan process?
How many additional contacts would you like to add?
AUTHORIZED CONTACT 1
Name (Authorized Contact)*
Phone (Authorized Contact)*
Email (Authorized Contact)
AUTHORIZED CONTACT 2
Name (Authorized Contact 2)*
Phone (Authorized Contact 2)*
Email (Authorized Contact 2)
Mailing Address
Address City State ZIP
Pastor's Name
First Last
Years with this church
Is the church incorporated?
Fiscal year ends on
MM slash DD slash YYYY
Year church was organized
Average (weekly) number of attendees - Now
Average (weekly) number of attendees - One Year Ago
Average (weekly) number of attendees - Five Years Ago

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LOAN DETAILS
LOAN REQUEST
Amount of Loan*
Loan Term?
Reason for loan (check any/all that apply)
- Purchase of an Existing Facility
- New Construction/Remodeling
- Land Purchase
- Refinance
- Other
General Purpose
PURCHASE OF AN EXISTING FACILITY
Address
Street Address City State ZIP Code
Purchase Date
MM slash DD slash YYYY
Purchase Price
Appraised/Estimated Value
Total Square Footage
Total Acreage
Cost of Renovations Needed
Describe proposed use of buildings and grounds
NEW CONSTRUCTION/REMODELING
Address of Building/Location
Street Address City State ZIP Code
Type (sanctuary, educational, etc.)
Proposed seating capacity
Approximate Square Footage
Work has ...
Estimated Start Date
MM slash DD slash YYYY
Estimated Completion Date
MM slash DD slash YYYY
LAND ACQUISITION
Purchase Price
Appraised/Estimated Value
Purchase Date
MM slash DD slash YYYY
Acreage
Proposed Use

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CURRENTLY OWNED PROPERTY
CURRENT CHURCH BUILDING
Do you currently have a church building?
Church Address
Street Address City State ZIP Code
Year Built
Last Remodeled
Seating Capacity
Approximate square footage
Give general condition of building and state repairs needed
Acreage
Who holds title to current church property?
Appraised/Estimated Value
Source of value:
OTHER BUILDINGS OWNED
Do you (the church) currently have other buildings?
Type
Please list address(es) for additional building(s)
Give general condition of building(s) and state repairs needed

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FINANCIAL INFO
Total Budget for Current Year*
Budget for Building or Debt Retirement
Annual Salaries & Benefits included in Budget
Total Cash on Hand
Cash in Building Fund Only
Total number of giving units in the Church
Top 10 giving units provide __% of Total Revenue
Number of mortgages/debts/loans against church properties?*
DEBT 1
Name of Holder
Original Amount of Mortgage-Loan
Date Obligation Incurred
MM slash DD slash YYYY
Monthly Payment
Interest Rate
Unpaid Balance
Year of Maturity
DEBT 2
Name of Holder
Original Amount of Mortgage-Loan
Date Obligation Incurred
MM slash DD slash YYYY
Monthly Payment
Interest Rate
Unpaid Balance
Year of Maturity
DEBT 3
Name of Holder
Original Amount of Mortgage-Loan
Date Obligation Incurred
MM slash DD slash YYYY
Monthly Payment
Interest Rate
Unpaid Balance
Year of Maturity
ADDITIONAL DEBTS
Please provide the remaining debt information
Just like the previous three debt's we'd like you to provide the following for your remaining debts: 1) Name of Holder 2) Original Amount of Mortgage-Loan 3) Date Obligation Incurred 4) Monthly Payment 5) Interest Rate 6) Unpaid Balance 7) Year of Maturity
BUILDING FUND/CAPITAL CAMPAIGN PLEDGE INFO
Do you have money pledged for the completion of this project?
How long is your campaign?
When will it begin?
MM slash DD slash YYYY
When will it end?
MM slash DD slash YYYY
Total amount pledged
Actual pledge total expected to collect
Cash from pledges to date
Cash expected between now and completion of construction
Balance after construction completed
SOURCE OF FUNDS
Please note that source of funds should be equal to use of funds.
Cash on hand for purchase/construction/renovation/remodeling
Cash expected from pledges between now and completion of construction
Cash expected from other sources (sale of property, gifts, etc.)
Payments already made to contractors
Payments already made to architect
Loan Amount Requested
TOTAL
USE OF FUNDS
Please note that use of funds should be equal to source of funds.
Purchase of land/buildings/property
Cost of Construction (provide separate summary breakdown)
Architect fees/zoning permits/etc.
Cost of landscaping/paving/land improvement
TOTAL Cost of Building and Improvements
Cost of all Furnishings/Equipment
i.e. lighting, sound, video, chairs, tables
Amount needed to retire outstanding debt
Amount needed for other purposes
i.e. construction loan interest, title insurance, land survey, appraisal, loan contingency, closing fee
NOTE: The totals below should equal each other.
TOTAL (Fund source)
TOTAL (Fund usage)
FINANCIAL DOCUMENTS
Have you already submitted your financial data and church budget?*
Which of the required documents are you able to upload/attach today?*
- Financial Statements (Income Statements/Balance Sheets) for last three (3) years.
- Current Year Church Budget (showing income/expenses).
Financial Statements*
Income Statements/Balance Sheets) for last three (3) years.
Drop files here or

Accepted file types: csv, xls, xlsx, pdf, xlt, jpg, png, Max. file size: 50 MB.
Current Year Church Budget*
Showing income/expenses.
Drop files here or

Accepted file types: csv, xls, xlsx, pdf, xlt, jpg, png, Max. file size: 50 MB.

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PARTNERSHIPS & AFFILIATIONS
DENOMINATION, CONFERENCE, OR DISTRICT
Currently affiliated with a denomination or an association of churches?
Name of Denomination, Conference, or District(s) to which you relate?
Has the building project been discussed with the Conference or District personnel?
Does the congregation receive regular financial support from the Conference, District or other outside sources?
Please provide further details
Will you receive financial support from the Conference or District on the proposed building project?
Will the Conference or District guarantee this loan?

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VERIFICATION
I have completed the above Application for the purpose of obtaining a Loan from Wesleyan Investment Foundation (WIF). WIF may rely on the accuracy of the above information contained herein when deciding whether or not to approve this Loan. I declare the information contained in this application to be true and accurate to the best of my knowledge and understanding. I have withheld no information relative to the property offered as security which would adversely affect its value.
Full Name
Title

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MORTGAGE LOAN PROCESS INFORMATION

Required Data

Completed Loan Application.
Financial Statements (showing income/expenses) for last three (3) years.
Current Year Financial Statements and Church Budget (showing income/expenses).
Evidence of Local Church Approval of the Loan (meeting Minutes or Resolution).
Evidence of District Board or Conference approval, and certification of their willingness to co-sign or guarantee the Loan if necessary.
Name and address of attorney or title insurance company whom we may employ on your behalf to prepare the Note, Mortgage and Title work (see Loan Application page 3).
Detailed explanation for purpose and justification of the Loan with a picture of land and/or buildings, and how the Loan is to be repaid.
Survey and/or appraisal if one already exists or upon request.

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 appraisal in most cases.
Project or Construction Draws should not exceed more than one (1) per month.

Pricing and 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 ½ of 1%, with $250 minimum.

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Church Loan Application

LOAN PROCESS INFO

Before proceeding please review our Loan Process Info & Guidelines.

GENERAL INFO

LOAN CONTACT INFO

AUTHORIZED CONTACT 1

AUTHORIZED CONTACT 2

LOAN DETAILS

LOAN REQUEST

PURCHASE OF AN EXISTING FACILITY

NEW CONSTRUCTION/REMODELING

LAND ACQUISITION

CURRENTLY OWNED PROPERTY

CURRENT CHURCH BUILDING

OTHER BUILDINGS OWNED

FINANCIAL INFO

DEBT 1

DEBT 2

DEBT 3

ADDITIONAL DEBTS

BUILDING FUND/CAPITAL CAMPAIGN PLEDGE INFO

SOURCE OF FUNDS

USE OF FUNDS

NOTE: The totals below should equal each other.

FINANCIAL DOCUMENTS

PARTNERSHIPS & AFFILIATIONS

DENOMINATION, CONFERENCE, OR DISTRICT

VERIFICATION

Online Account Access

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