Lending Criteria

The ABEC Loan Application Process:

To qualify for an ABEC Loan, your project must be architecturally sound, support the church’s ministry goals, and exhibit good stewardship of both human and natural resources.

That will mean that your church will have developed a realistic budget that reflects all resources and expenses including contingencies. The church must be able to demonstrate a reasonable debt service ratio, equity in the project, the ability to repay, and support for ABEC’s investment program.

There is a single application process for all potential borrowers with ABEC. Our application requires various accompanying documents, including financial statements, information on attendance, current debt, and the nature of and budget for the project. When all documents have been received, ABEC will evaluate your ability to meet our lending criteria.

The majority of ABEC Loans are secured by a first mortgage, first deed of trust, or an assignment of investments in ABEC, and are evidenced by a promissory note. The repayment period is generally 15 years. For more information about terms, please contact us.

Once the application is reviewed, if your institution meets the lending criteria notice is generally sent to the loan committee. If preliminary approval is granted, the documentation process begins. The loan can be fully approved only after documentation acceptable to ABEC is completed. After this happens, disbursements begin—and your ministry dream will be on its way to becoming a reality.

There is a single application process for all borrowers with ABEC.