Buy An Existing Facility
YOU’RE A GROWING CHURCH—PRAISE THE LORD!
What an exciting time for your ministry! Growth shows that you’re fulfilling the vision God—but it also brings daunting challenges—and risk. You’ve outgrown your existing facility and need more worship or multi-use space, or maybe you need facilities more functionally adapted to modern family and youth-oriented ministries and worship. Is it the right time to make a move? Do we have sufficient equity (usually cash) to contribute toward the purchase price? Is it the stage in our lifecycle to launch a new campus? How could we structure a hybrid financing plan to bridge the gap between what the bank will lend and the estimated cost of the new property.
You need to make those decisions before you sign a purchase agreement, and want to make certain that financing is available before you deposit earnest (down payment) money with the seller. Of course, you are also concerned about how to be the best steward of your limited funds. You want to avoid overburdening your church with debt, risking its financial future and more—if growth slows. These and other questions need to be addressed up front—in an informed environment.
You need professionals with over 34 years of experience helping literally thousands of churches to help make those decisions, find the right lender, negotiate the best terms, and bring the transaction to closing. Whether you’ve already made these decisions, are still looking for a lender, already found one, or are still considering all of your options—now is the right time to call Antioch. Most lenders require substantial equity infusion buy the Church, in which at least 20% of the purchase price must be paid in cash (and/or some equity substitute). Structured correctly, and with Antioch’s guidance, all elements of a “bankable” purchase arrangement can be structured into a seamless plan that allows acquisition of the property through low-cost, low interest-rate bank financing.\
DON’T APPROACH A BANK WITHOUT BEING PROPERLY PREPARED
You only get one chance to make a first impression. Our in-depth credit analysis (“Confidential Information Memorandum” or “CIM”) ensures you make the best presentation—as we approach our banks in your community who’ve come to rely on our fully analyzed, professionally underwritten refinancing package for consideration by their credit committee. With Antioch representing you to its banks, your chances of getting the best refinancing possible for your church increases dramatically. Plus—you gain an important life-long financial partner in your own backyard.