Loan Qualifications

Standard Permanent Loans

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.

• 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 at 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%.

Bruce Bowles New Church Loan Program

• 85% Loan-to-value. Applicants who qualify for the Bruce Bowles New Church Program are eligible for the BCLC lending rate minus .25% for the first five years with a maximum loan amount of $500,000.

Small Church Loan Program

• 85% Loan-to-value with a maximum loan amount of $250,000 at the BCLC lending rate.

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