Use this checklist below as a guide to help gather and organize the documentation needed for your church loan request.
CURRENT YEAR TO DATE FINANCIAL STATEMENTS
- YTD Income and Expense Statement (also referred to as a P&L)
- Budget Comparison (projected budget as compared to actuals)
- Balance Sheet
- Bank Statements and/or Quarterly Statements that verify cash and investments
YEAR-END FINANCIAL STATEMENT FOR THE PREVIOUS THREE (3) YEARS
- Income and Expense Statements (also referred to as P&L Statements)
- Budget Comparisons
- Balance Sheets
SUMMARY OF ALL OUTSTANDING DEBT
- Original loan amount(s) vs. current loan amounts
- Interest Rate(s)
- Origination and maturity date(s)
PROJECT INFORMATION
- Description of what are you trying to accomplish? When? Why?
- How much money are you looking to borrow?
- Project Information (construction documents, contractor information, budget, target purchase area, etc…)
DEMOGRAPHIC INFORMATION
- YTD average attendance trends (by program, by age)
- Previous three years attendance trends (by program, by age)
- Membership numbers (by age and/or family units)
- Giving Units
- Total annual giving of your top 15 Donors – listed individually (no names)
- Community demographics (if available)
GOVERNMENT OF THE ORGANIZATION
- Articles of Incorporation
- Constitution
- By-Laws
- Brief church history
- Explanation of other entities you are formally affiliated with
- Leadership bios