My church has a building loan (approx $1.2 million) that is due to be rolled over around Jun/Jul timeframe. Is the term refinanced the correct term to use in this case?
I am not sure of the category that this fits....is it a refinance, loan modification or is it considered a Commercial loan? by John McClain from Virginia Beach, Virginia. Feb 14th 2011
David Buchanan (buchananvs)
#13 ranked lender in Minnesota - 3 contributions
It is more then 1 thing. It is a commercial "church" loan.There are different guidelines for church loans then any other business.As a commercial loan broker, I have a companies that specialize in non-profit organization lending. If you need help and want to get this in order before May let me know. David B.
Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions
It appears that your loan term is up at that time. This would be a commercial loan. Feel free to contact me to provide you with your options regarding Non-profit lending programs...877-369-4319
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