Need a Funder or Vendor? START HERE

Results 1 to 7 of 7
  1. #1
    Senior Member Reputation points: 8536
    Join Date
    Dec 2015
    Location
    Los Angeles, CA
    Posts
    121

    Real-estate deal for a church - $500k for 501c501c

    Not your typical account, but I thought I'd see if anyone on here could help with some recommendations.

    The pastor of the church is actually a good friend of mine and he reached out to me this morning to ask if I'd be able to help finance a property for the church between $400,000 - $500,000. I wasted no time letting him know that it's not something we do, but that I'd be more than happy to see what I could find out.

    The church is part of the AG Network (Assemblies Of God) and is an organization that has planted, started, and secured assets for numerous churches across the country that focuses on helping addicted and oppressed people get off the streets and into recovery programs that are offered through the church. They are looking to secure a location for a new(ish) church in New Jersey.

    I recommended a few banks for him to check out but I'd like to see what other options may be available or if someone specializes in these types of transactions.

    Last year the Church did $250,000 and has already surpassed that this year.
    Last edited by getitfunded; 09-16-2020 at 07:42 PM. Reason: Didn't finish whole post.

  2. #2
    Member Reputation points: 248
    Join Date
    Sep 2020
    Location
    New York, NY
    Posts
    10

    Pm'd you

  3. #3
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    838

    well, I can speak first hand about this - you don't want to be the lender foreclosing on a church If you want to continue doing business in that community...
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  4. #4
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by getitfunded View Post
    Not your typical account, but I thought I'd see if anyone on here could help with some recommendations.

    The pastor of the church is actually a good friend of mine and he reached out to me this morning to ask if I'd be able to help finance a property for the church between $400,000 - $500,000. I wasted no time letting him know that it's not something we do, but that I'd be more than happy to see what I could find out.

    The church is part of the AG Network (Assemblies Of God) and is an organization that has planted, started, and secured assets for numerous churches across the country that focuses on helping addicted and oppressed people get off the streets and into recovery programs that are offered through the church. They are looking to secure a location for a new(ish) church in New Jersey.

    I recommended a few banks for him to check out but I'd like to see what other options may be available or if someone specializes in these types of transactions.

    Last year the Church did $250,000 and has already surpassed that this year.
    Is this Church in Florida and just the property?
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  5. #5
    Senior Member Reputation points: 8536
    Join Date
    Dec 2015
    Location
    Los Angeles, CA
    Posts
    121

    Jstarr, I’m not sure what the post was supposed to mean... did you foreclose on a church and get a bad rep?

    If so, the church should understand that they neglected to pay their loan and not hold you responsible.

    If they blame you and don’t take responsibility and forgive you and the lender for their bad decisions then that wouldn’t be very Christianly of them.

  6. #6
    Senior Member Reputation points: 8536
    Join Date
    Dec 2015
    Location
    Los Angeles, CA
    Posts
    121

    Yankee, it’s in the post.

    New Jersey.

  7. #7
    Senior Member Reputation points: 81655
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,854

    Quote Originally Posted by getitfunded View Post
    Yankee, it’s in the post.

    New Jersey.
    Sorry, I missed that in your post - Churches are tough - this is vacant land?
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

Similar Threads

  1. Replies: 9
    Last Post: 07-25-2021, 11:32 PM
  2. Real estate deal ny
    By Fundster in forum All Other Lending
    Replies: 3
    Last Post: 04-09-2019, 02:43 PM
  3. Real estate deal ny
    By Fundster in forum All Other Lending
    Replies: 0
    Last Post: 04-08-2019, 02:00 PM
  4. Hard-Money / Real Estate Collateral deal - $500k
    By helpinghand in forum Deal Bin
    Replies: 6
    Last Post: 09-01-2015, 09:23 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY