How Do We Get Started?

Qualifications

The BCLC accepts loan applications from Baptist churches that cooperate with their local Baptist association and their state Baptist convention.* The BCLC provides loans for new construction, remodeling, parking, land, facilities, and refinancing.

Loan Information

The BCLC has a $25,000 minimum and a $5,000,000 maximum loan range.** New loans are fully amortizing, fifteen year term notes that adjust annually the BCLC lending rate (Wall Street Journal Prime with a 3.25% floor). The BCLC takes a first lien on all church land and improvements. The maximum loan to value is based on the size of the loan and ranges from 60% to 75%. The BCLC debt ratio is calculated by dividing total proposed debt service by undesignated tithes and offerings. The maximum debt ratio is based on the size of the loan and ranges from 25% to 30%.

*The church must submit a completed BCLC loan application and be cooperating with both their local Baptist association and their state Baptist convention. Loan approvals are not based solely upon financial ratios. The BCLC also looks at other areas such as: leadership, ministry impact, commitment of the members, growth potential, and church location when reviewing loan requests.

**$250,000 minimum loan amount for churches in Mississippi and Oklahoma.