FREDERICKSBURG, VA. (STL.News) – For over 20 years, Griffin Capital Funding has been providing loans to churches. They understand church finances and offer a variety of church loan programs, including programs for churches with good and bad credit. With long- and short-term fixed interest rate options available, they have programs that are fully amortizing and programs that can accommodate a shorter-term need.
Griffin Capital Funding’s recent closings include several loans to churches that received 10-year fixed rates. A church in Florida needed to refinance a privately held mortgage that carried a 10% interest rate. Knowing that the church needed to be lifted to a stronger financial position, Griffin Capital Funding was able to provide a 10-year fixed rate amortized over 25 years and cut their rate in half. This action will save the church thousands over the term of their loan and allow them to pay the loan down at a more rapid rate. “We offer short- and long-term loans. The length of the term of a loan is based on several factors, including the type of loan the church would like, the financial strength of the church, and the location of the property,” stated John Berardino, President, Griffin Capital Funding.
Over on the west coast, Griffin Capital also closed a 10-year fixed rate mortgage for a church purchasing a new home. The church was facing a time crunch when they found Griffin Capital Funding. The added pressure of an expiring purchase contract did not phase the loan officer, and he was able to close the loan in time.
For churches with excellent credit and who meet the qualifications, Griffin Capital Funding can provide 30-year fixed rate loans with no balloons. If 30-year fixed loans are too long for your church, they also offer 10, 15, 20- and 25-year long term fixed rate church loans.
About Griffin Capital Funding (http://www.church-loan.com)
Griffin Capital Funding has been serving churches for 20 years by providing church loans for the refinance, construction, renovation, and purchase of almost any church building (church-loan.com). On average, Griffin provides about $100,000,000 a year in loans to churches. Griffin Capital Funding is one of the most well-known and respected church financing companies in the country. Griffin Capital Funding also offers loans to for-profit businesses through the SBA 7A and 504 loan programs.