Obtaining reliable funding for commercial real estate transactions can be quite the hassle, regardless of what industry you are in. You can be an established corporation operating in a relatively stable sector, but banks will still have you fill out seemingly endless documentation to prove that you have the financial viability to repay the loan. For those seeking capital for a religious organization or another class of business that the financial industry typically deems to have too great a risk profile to underwrite a loan for, evaluating alternative financing options may be the only route to getting the money you need.
Religious Organization Financing
While they are technically classified as nonprofit entities, religious organizations—just like any other type of business—require working capital to function. They have salaried employments, maintenance needs, expansion costs and many more operations that need money in order to be accomplished. Often the amount needed for these essential tasks outpace the organization’s revenue stream. In these scenarios, a private money funding plan specifically geared towards religious entities can cover these costs.
Potential Uses for Private Money Loans
Churches service their communities in a broad range of ways—benefitting the local community and enriching the lives of its members. To enhance these positive aspects, a church-focused financing product can be earmarked for a wide variety of uses. Here’s a quick overview of some ideas on how a private money loan can benefit your religious organization:
Renovations & Upkeep
There is an enduring aspect of any religious organization—it is intended to last for several generations. The issue that many churches run into is that the original building starts to deteriorate. Wood and plaster do not automatically regenerate like the congregation housed within does. Routine maintenance should be a priority for the leadership of any religious organization and doing so comes at a financial cost. Delaying regular upkeep due to inadequate funding can result in even more expensive renovation projects in the future.
Repairs
Unfortunate events like termite or storm damage happen all the time. The resultant damage should not be overlooked. The sooner these structural impacts are addressed, the less likely it is for the disrepair to spread and wind up costing you more in the long run. It can be challenging or downright impossible to predict these sudden and oftentimes substantial expenses. The good news is that a private money loan offers flexible and efficient access to capital to react in a timely manner.
Growing & Scaling
Continually adding new members to your congregation is ideal—but the more new faces showing up every week means you need more space to accommodate them. The harsh reality may be that your existing structure is simply too small to adequately perform your day-to-day functions. It is no secret that a new construction project can be a costly endeavor. Obtaining a private money loan provides you the injection of capital needed to build a new addition or facility so you can continue to scale your organization.
A Trusted Lending Partner
For over a century, F.E. Forbes has been providing expertise to its California-based clientele in a range of quality financial services and thoughtfully considered opportunities to borrowers and investors alike. To make it an entire century of doing just about anything means you’re doing something right. That kind of sustainability doesn’t just magically happen overnight. It takes hard work, ingenuity and, perhaps most importantly, an overarching corporate vision that endures throughout the years and serves to guide employees and key stakeholders over the years. Let us leverage our extensive experience to assist your religious organization grow and scale their impact and achieve their goals—contact us today to learn more!
