Frequently Asked Questions

Why should I contact the Church Finance Ministry? 

We exist to strengthen local Southern Baptist churches. Your church and its mission is the heart of who we are and what we believe God has called us to do. Our team of experts, have a broad depth of experience that can help you safely navigate the often hazardous waters of church finance and facility expansion.

2. 

How much debt is too much debt?  

The solution to this question is best answered by first understanding how God has positioned your church for its current and future ministry. When you contact one of our consultants, we will assist you in examining your church's current trends and begin to identify the steps needed to achieve the dream you believe God is leading your church toward.

As a ministry of NAMB and the Cooperative Program, we are available to provide customized consultation to your church's leadership team. Even if you plan on obtaining financing through another lender, we are here to help strengthen your church. 

The type of loan your church needs may also influence the amount of funding we are able to recommend for your church. For instance, our small loans under $50,000 are popular for vehicle and equipment purchases, and have a shorter repayment period. Our construction loans and long-term mortgages are designed for facility needs. As funds are available new loan requests typically range from $10,000 to $6,000,000. Give us a call and we will put our skills to work to help your church as it plans for its future.

For additional information see our thoughts on "How much should our church borrow?".

3. 

How long does the loan application process take?  

Once we have received a completed loan application, 5-10 business days is our normal turn around time.

4. 

What is the interest rate associated with a loan?  

We are proud to offer competitive interest rates to all SBC affiliated churches, regardless of your geographic location or size. Interest rates vary depending on the type of loan a church needs. For instance construction financing has a different interest rate than our small loan program. Historically our rates are designed to be competitive with other national lenders. Contact your consultant for specific information based on your church's need.

5. 

When should my church contact CFM? 

As early as possible. If you're building a new facility or plan on renovating an existing one, we need to be involved in the early stages of the planning process. Preferably before you contract with an architect. Once you call us, we will work with your church to determine a safe level of indebtedness for your planning needs. Understanding how much you may borrow up front, will help you avoid many of the mistakes and unnecessary time delays that often occur in facility-related projects.

6. 

I am a part of a mission church or church plant, can CFM help me?  

We can help you prepare for your future by providing you the tools and information you will need. In some cases, your sponsor church may help you secure financing directly through NAMB. If that is not possible, we would be pleased to help you as you seek financing through alternative means. Our consultants are available to guide you regardless of who you select to be your lender.

7. 

 My church is only one-year old, can CFM help us?  

Yes. Contact us to learn more about our consultation services and loan products.

8. 

Does CFM provide grants to churches?  

Sorry, we do not have access to grants. While we understand that there is a need for such programs, we are a consultation based ministry offering products and services in lending and facility planning.

9. 

Does CFM serve as a capital fundraising or stewardship company? 

We do not offer professional capital stewardship services. As your consultant we will be pleased to provide you with referrals to other organizations in that ministry.

10. 

Does CFM offer architect services or have a library of building floor plans? 

No. However, we do maintain relationships with other state conventions, architects, and builders across North America. Contact us for more information.

11. 

How does CFM help support local associations or state conventions?  

We are committed to working in partnership with your area leadership to provide regional training events and seminars. Our partnership with your association and state is critical to our ministry. To learn more contact us.

12. 

Can CFM help us develop a church budget or discuss our church's current financial situation?  

Yes. Contact us for more information on improving the business-side of your ministry.

I want to work with my local bank, can CFM still help me?  

Yes. Through our no-cost consultation services, your CFM consultant will provide you ideas and strategies designed to reduce your church's costs as it works with other lenders. Furthermore, we will be pleased to help you review your bank(s) loan terms and conditions, as you select your lender of choice.

Does CFM ever partner with other lending institutions?  

Yes. If your church qualifies and meets our terms and conditions, we do consider requests made by SBC-affiliated churches to partner with other lenders. This is considered on a case by case basis. For more information contact us.
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What costs are involved in obtaining a loan?  

Our closing costs include those costs directly associated to closing the loan. The only additional cost charged by NAMB includes an origination fee.

What type of loans do you offer?  

We offer a variety of loans which include construction, short-term, and permanent loans. See Types of Loans for more information.

Is a CFM consultant available to make an on-site consultation with my church?  

As a service of the SBC Cooperative Program, we will do our best to be available to your individual church, and always as a free service of NAMB! Contact us today to see how we might be of service in your particular ministry setting.

Where does CFM get the money it loans to churches?  

Since the inception of our lending program in the late 1800's, Cooperative Program Funds and Designated Funds were initially used to establish this church loan fund. Today, the loan fund has grown through generous gifts, and through reinvesting interest dollars back into the loan fund.

Thousands of SBC churches in the United States, its territories, and Canada have secured loans through the Church Finance Ministry.

Who do I contact to begin a consultation? 

We have staff members assigned as regional consultants located throughout North America. You may contact us through this form or phone our main offices in Alpharetta, GA and we will be glad to assist you in reaching the right member of our team. Our main offices may be reached at (800) 759-5901.

Generally, what requirements do you have for prospective loan candidates?  

You must be a cooperating SBC church; constituted; incorporated and have 25% equity for the project from existing property or cash. Other requirements may depend on the particular nature of your church's need. Give us a call and we'd be glad to visit with you about our available programs and services.

Do you require security for a loan? 

Yes, for the majority of the loans we offer the Board will collateralize or place a lien against the church property.

What is involved in closing a mortgage-related loan? 

After approval of the loan and your church's acceptance of the terms and conditions, the closing process begins.

• Our Closing Coordinators assist you through the entire process.
• Cooperation with a national title insurance company places the closing location through an agency near you.
• According to your customized loan requirements, documentation is gathered, commonly including your Articles of Incorporation and Church By-laws, a church resolution authorizing the transaction, property and liability insurance, property survey, flood zone information, and optional automatic draft data.