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03-04-2016, 01:51 PM #1
Church Needing $800k for Renovations!!
Hey
This might be a long shot but I wanted to see if any lenders can make this happen before going the construction loan route via church financing. They are looking for $800k for renovations to sanctuary & cafeteria. Estimated Monthly Revenue is $29,693.75. The church started in 1999. Church Value is $1,473,000 and they have a recent appraisal. Balance on the mortgage is $12k, so they have over $1M in equity in the building. Wondering if we can use the church as collateral. Is there any lender who would be interested in this?Nick Hubbard
Senior Loan Advisor
314-252-0299 - Office
314-885-2262 - Direct
nick@elitefactoring.com
www.elitefactoring.com
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