Program offering lease-to-own strategies for existing loan partners who are in transition and/or experiencing financial challenges.
While your church currently has a loan with CB&LF or your church is renting space, Partners in Mission (PIM) may assist your congregation in securing a ministry location, while achieving financial stability.
First if your church is renting space, PIM may assist your congregation in accumulating funds toward the down payment for a new building, land site or new church construction. If selected for participation in PIM, your church will sign an agreement to receive matching funds from CB&LF within a 24-month period. Those funds will go towards the 20% down payment on your future loan with CB&LF and will earn interest in a designated building reserve account until your church accumulates the necessary funds to proceed with financing with CB&LF. During this time, we ask that your church provides CB&LF with at minimum quarterly bank statements of your progress towards the accumulation of the required down payment.
If your church currently has a loan with CB&LF and is in the midst of transition and/or having financial challenges, CB&LF may assist your church by entering into a lease to own program agreement with your congregation. If selected for participation in PIM, your church will sign an agreement to begin a financial savings plan, CB&LF will enter into a lease agreement with the church to relieve the financial strain and the church leadership will be required to participant in a leadership development program.
PIM is the first ever program of this type that provides assistance in accumulating the down payment towards purchasing a building or church construction. If your church demonstrates the ability to manage the funds financed while maintaining other church expenses that support your ministry, PIM can help in a secure financial plan. If your church consistently has monthly revenues resulting in consistent surplus over expenses, PIM can help you turn those funds into a lasting investment. If your church is ready to take the next step in expanding, PIM can make the hope of purchasing a permanent church home a reality.
For more information, contact us.