Church Articles

Construction

This is a letter in our series “Church Financing – What you need to know”

Griffin Capital Funding is one of the most well known and respected church financing companies in the country. We analyze over $2.5 billion a year just in church loans and close on average over $100,000,000 a year in church loans.

A construction project can be very intimidating for a church; there are expenses related to everything from architecture, site development, project management, and of course construction.

So where should a church start?

Most churches make the mistake of hiring an architect to design a building and then a contractor to determine the cost to build. Then they approach our company or another financing company to see if they can qualify for a loan to build what has been designed. More than 30% of all construction plans created for churches go unused. The church simply can not afford to build what has been designed.

You should always start out by contacting the financing first. We offer free consultation; we will analyze your financials and tell you how much the church should be able to borrow. You can then take this free advice and go to the architect and tell them what the maximum costs need to be. This has the added benefit of allowing the architect to plan for future phases of the project right from the beginning. By way of example, your church may want space for a school or day care you plan to start in the future. Well if you go to the architect before the financing company the architect will just build these things into the plans from day one but if you give the architect a budget they will be able to tell you whether or not the new school and day care are within your budget. If not, they can plan for future phases of the building.

If you or someone you know is thinking about a construction project for a church I would like to send you a free book that will help you learn what steps need to be taken to make sure your project is a success. Just call or email me and I will get it out to you right away. And just like our financing consultation, it is free and without obligation.

By the way, if you are ordering the book for someone else remember to tell your representative at our company that you are referring someone so that we can give you the referral fee. We pay ½ % of the loan amount, up to $10,000 for every church loan that you refer to us that we close.