The following checklist will help identify the necessary information, forms, and signatures that will be required to obtain a loan.

NEW CONSTRUCTION OR RENOVATION

_____Completed loan application
       _____Certificate of charge/church conference
       _____Signatures of officers or all trustees
       _____Certification of pastor and district superintendent
_____Certificate of incorporation
_____Current year budget and year-to-date financial report
_____Previous year financial report
_____Deed of church properties
_____Contract with architect/engineer
_____Contract with building contractor
_____Building plans
_____Estimate(s) or bid(s)

back to topClosing Requirements:
_____Evidence of fire and hazard insurance with the Foundation named as mortgagee/loss payee. 80% replacement cost or amount of loan
_____Evidence of builder's risk insurance
_____Evidence of contractor's payment and performance bond
_____Land title survey with flood plain certification
_____Lender's title policy

back to topRefinancing Debt
_____Completed loan application
       _____Certificate of charge/church conference
       _____Signature of officers or trustees
       _____Certification of pastor
_____Certificate of incorporation
_____Copy of loan documents (real estate lien note and deed of trust)

back to topClosing:
_____Evidence of fire and hazard Insurance with 80% replacement cost provision with Foundation named as mortgagee/loss payee.

back to topACQUIRING NEW PROPERTY
_____Completed loan application
_____Certificate of charge conference
_____Signatures of officers or trustees
_____Certification of pastor and district superintendent
_____Certificate of incorporation
_____Current year budget and year-to-date financial report
_____Previous year financial report
_____Appraisal of property
_____ Real estate contract

back to topClosing:
_____Land title survey with flood plain certification
_____Lender's title policy
_____Evidence of fire and hazard Insurance with 80% replacement cost or amount of loan provision with Foundation named as mortgagee/loss payee.

back to topPledging Accounts
_____Completed loan application
       _____Signatures of officers or all trustees
_____Certificate of incorporation
_____Current year budget and year-to-date financial report
_____Previous year financial report
_____Certification of trustees that the account may be pledged

back to topClosing:
_____ Assignment of interest and security agreement pledge
_____ Promissory note

back to topEquipment & Furnishings
_____Completed loan application
       _____Signature of officers or all trustees
       _____Certification of pastor
_____Certificate of incorporation
_____Current year budget and year-to-date financial report
_____Previous year financial report
_____Invoices, contracts or receipts for the equipment or furnishings being financed. Full description of equipment with serial numbers is required.

back to topClosing:
_____ Assignment of interest and security agreement-pedge
_____ Promissory note

For more information, contact the Foundation.