Church Purchase by kko50768

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									PLEASE NOTE THAT THE LOAN
APPLICATION IN THIS SPREADSHEET IS
SPREAD OVER A NUMBER OF
SPREADSHEET "WORKSHEET" PAGES.
TO MOVE FROM ONE PART TO THE NEXT,
SIMPLY CLICK WITH YOUR MOUSE ON
ONE OF THE PAGE "TABS" AT THE
BOTTOM. PLEASE READ THE
INSTRUCTIONS VERY CAREFULLY
BEFORE PROCEDING. THANK YOU.
N
 SHEET IS

" PAGES.
 THE NEXT,
USE ON
 THE

LLY
YOU.
                                         The Alliance Development Fund, Inc.
                                                           Loan Application




Instructions

Thank you for considering The Alliance Development Fund, Inc. (ADF) for your financing needs. Our desire is to make the borrowing
process as painless as possible for you, while doing the due diligence necessary to protect the money entrusted to us by our Alliance
investors. Lending to a corporation is different than lending to an individual and, therefore, you will probably find this application to be
somewhat more extensive than a typical home mortgage application.

The application is divided into the following worksheets: General Information, Financial Information, Property Information for
Purchase, and Church Health. The first line of each worksheet explains who would be best suited for completing that particular
section. You may make copies of this Excel file so that several people can work on it at once, as long as everything is copied back
into one file to be submitted to ADF. If you choose not to delegate the responsibility for this application to various people, the Church
Health section must still be completed by the person suggested. There are two other sections of the application which have been sent
directly to your district office for completion.

Each question provides us with valuable information for assessing your entity’s loan request, so we ask that you answer all questions
carefully. If a question clearly does not apply to your situation, please enter “N/A” in the space provided. If we have not provided you
with enough room for an answer you may insert more rows into the spreadsheet to complete your answer. If you feel that there is
other information that is relevant to our assessment of your loan request, feel free to provide this information on a separate worksheet
page, but be sure to notify us that it is there. Please be sure to submit all supporting documents as requested.

Because of the limitations of Excel , this spreadsheet version of our loan application is not completely "user friendly" -- especially when
entering long text answers. Please make every effort to keep your text answers within the width of the rest of the application,
advancing to the next row or inserting extra rows as necessary. Any questions asking for a date should be answered in mm/dd/yy
format (i.e. April 4, 2000 entered as 04/04/00). Do not enter dollar signs or commas when entering numbers. There are a few cells
that contain formulas -- please do not change these (you should only complete sections highlighted in yellow). If you find that
information generated by a formula does not agree with your intentions, it is very possible that you either entered a figure incorrectly or
misunderstood the question being asked. Some cells have additional help messages attached as comments. If you see a red triangle
in the upper right had corner of a cell, simply pass your mouse pointer over that cell and a message will appear on your screen with
additional information regarding the contents of that particular cell.

Upon completion of this application, please return the Excel file to ADF, print a hard copy for your records, and send a copy to the
district office. When printing, please set the print settings to fit to one page wide by several pages long (portrait). If necessary,
you may adjust the page breaks to make the printed copy easier to read.

ADF will not approve a loan without the approval of your congregation (regardless of whether or not this is required by your bylaws)
and the recommendation of your District Executive Committee. Furthermore, a site visit must be conducted by an ADF representative
prior to consideration of your request (exceptions are made on rare occasions for small loan requests). Loan requests not exceeding
$1,250,000 (including existing debt to ADF) will be considered by the ADF Loan Advisory Committee, which typically meets once every
two weeks. Requests over $1,250,000 are considered by the Board of Directors for their approval. This board convenes once a
month. It is important that your application, including the sections to be completed by the district office, arrive as early as possible to
allow time for a site visit to be conducted prior to the request being considered for approval. If your loan request is time sensitive, you
may contact ADF's vice president for Church Services to find out the dates of these meetings.

Again, we thank you for giving us the opportunity to serve you. Our ministry is to support The Christian and Missionary Alliance in the
fulfillment of its mission, and we look forward to helping you in whatever way we can to accomplish this. If we can be of any
assistance, please feel free to contact us at 1-888-878-3060.
Checklist for Loan Requests

      All four sections of the application have been completed in full

      If incorporated, documented verification of current corporate status sent to ADF via fax, mail, or PDF

      If incorporated, articles of incorporation, bylaws and constitution sent to ADF via fax, mail, or PDF

      Copy of last full-year's financial statements sent to ADF via fax, mail, or PDF

      Copy of purchase contract sent to ADF via fax, mail, or PDF

      Copy of application and other submittals sent to the district office
x, mail, or PDF

mail, or PDF
General Information

The church’s corporate secretary would best complete this section.

1. Church identity:
   Common Name of Church (used for advertising and general reference)

  Legal Name of Church (as it appears on corporate documents)


  Mailing Address street or P.O.

  City                                                                            State                     Zip Code

  Telephone #                                        Fax #                                         E-Mail

  Church Code (taken from Official Directory)                                   District

  County

2. Senior Pastor: Name                                                       Phone: work                                 home

3. Contact person regarding your loan request: Name

            Phone (as appropriate for contact): work                                home                                   cell

4. Date of the church's first public worship service

5. Please describe the church's current relationship with the C&MA:
                              developing church                 affiliated church                      accreditated church

6. Do you anticipate a change in this status prior to receiving a loan from ADF?                     Yes               No If "yes" please explain.


7. Is your church recognized as a corporate entity within your state?      Yes            No
If your church is not incorporated, your loan must legally be made to the district and all collateral property must be in
the district’s name. ADF cannot make loans directly to unincorporated churches.

8. If incorporated, please enter your church's Tax Identification Number (TIN)

9. Attendance history for the last five years (report average weekly attendance):

                                                                        Main Worship Service
                                                       Year              (include all activities
                                                 (oldest year first)     held during service)
                                                       2005
                                                       2006
                                                       2007
                                                       2008
                                                       2009
                                                 If current year, # months

10. Current number of official church members?

11. If the property being proposed as collateral for this loan request is already owned, in whose name is the title or deed (i.e. church
  or district)?                                                               If the title or deed is in the district’s name, have you verified that
  they will be willing to transfer the property to the church so the loan can be made directly to you?                     Yes          No
All titles or deeds for property owned by C&MA churches must include a C&MA property reversion clause. If a new title or deed is to be
drawn up, it must contain a district-approved property reversion clause.

This section has been completed by:
                                         name                                                 position

Church Authorization and Commitment (IF INCORPORATED):

If the church is incorporated, the corporate bylaws dictate the approval(s) necessary for the church to borrow money. In many cases this
does not require a congregational vote. However, in such cases, ADF still requires a vote of the congregation (whether formal or not) to
indicate the level of congregational support for the proposed project. Even if an informal vote is taken, a count of all "eligible" voters and
the resulting votes should be reported. If the corporate bylaws do not require a congregational vote, both the congregational vote and the
vote of the appropriate church governing body should be reported below.

This is to certify that, at a duly called meeting of the congregation of (church)
of (city, state)                                                                    on (date of meeting)                      , a formal
resolution was adopted authorizing the borrowing of                               from The Alliance Development Fund, Inc. In addition,
authorization for this loan has been granted by all other governing bodies as required by the bylaws of the church.

Number of members present                         Vote count: Number Yes                   Number No                   Abstained

If required by the corporate bylaws:
This is to certify that, at a duly called meeting of the governing body of (church)
of (city, state)                                                                      on (date of meeting)                      , a formal
resolution was adopted authorizing the borrowing of                                 from The Alliance Development Fund, Inc. In addition,
authorization for this loan has been granted by all other governing bodies as required by the bylaws of the church.

Number of members present                         Vote count: Number Yes                   Number No                   Abstained


church secretary’s name                                                                          date


The following church officers are authorized to sign all legal documents relating to this loan in compliance with church bylaws (ADF
requires a minimum of two corporate officers or trustees).


PRINT legal name as it will be signed                                                            corporate title


PRINT legal name as it will be signed                                                            corporate title

If the loan is to be made directly to the church, then copies of the following must be included with the application: documented
verification of current corporate status, articles of incorporation, bylaws and constitution.

Consensus of Regular Attendees (IF NOT INCORPORATED):

Recognizing that this church body is not a legal corporate entity, this is to certify that the church's leadership polled the adult
members who are regular attendees and who consider this their church home and asked for a show of support for borrowing
                         from The Alliance Development Fund, Inc., understanding that even though the loan would be to another
corporate entity, these regular attendees will be relied upon for making the monthly loan payments.

  Number of attendees present                      Poll count: Number Yes                  Number No                   Abstained



poll reported by                                                                                 date
Financial Information

This section should be completed by the treasurer or financial secretary.

1. Are you on a fiscal or calendar accounting year?                            If fiscal, what is the last month of your fiscal year?

    Enter the church's for the last three years, three years (only oldest year. If on a fiscal year, enter data for fiscal years on
2. Enter financial datafinancial data for the lastbeginning with thetwo years for expenses), beginning with the oldest year. Ifand a fiscal
   year, enter data for fiscal years and identify using the year in which each fiscal year ended. If the last year has less than 9 months
   complete, use the last 12-month year. Please be careful to include only expenses paid out of the operating/general fund.

             enter years (the most recent year must have at least nine months of financial data): 2007         2008               2009
                                                enter the number of months included in the most recent year, but not less than 9 months:

Operating/General Fund Income
Operating/General Fund Cash Expenses: Please report ONLY expenses paid from the operating/general fund. Any routine
  building expenses paid from the building fund should not be included in the Operating/General Fund Cash Expenses section.
    Personnel
    Office/Administration
    Building & Equipment
    C&MA support paid out of operating/general fund
    Ministry
    District Operating Budget
    District Extension Budget (if separate)
    Fellowship Fund
    Other (if any one category is greater than 10% of budget, please provide detail)
Total Operating/General Fund Expenses                                                                        $0.00          $0.00
Net Operating/General Fund Income (Operating Income minus Operating Expenses)                                $0.00          $0.00

Please describe and give the dollar amount(s) below of any significant "one-time" purchase(s) made out of the operating fund in the last two years that you
think we should be aware of. This is important for evaluating your true ability to make loan payments.




                              Total Significant One-Time Purchases from Operating/General Fund                                   $0.00                 $0.00

Routine Building Expenses Paid with Building Fund Money (i.e. mortgage payments, rent
payments, utilities payments, routine maintenance, etc. -- this should not be included above)


Non-Operating/General Fund Income:                                             2007             2008                                             2009
Building Fund (excluding money given toward capital fund campaign pledges)
Great Commission Fund and C&MA specials
Other Ministry Income
Subsidies
Lease Income
Capital Fund Campaign Income
Total Non-Operating Income                                                         $0.00             $0.00                                             $0.00
Please submit an income statement to match last 12-month period reported and current balance sheet to ADF.

3. How many households regularly provided financial support throughout the last year for which income was reported above?

4. If the church currently makes monthly lease or mortgage payments, what amount will no longer need to be paid on a monthly
   basis once the project for which this loan is being requested is completed?

5. If the church will be receiving subsidy income during the payback period of the loan, describe each subsidy source and give details
   of amounts that will be received each year.


6. If the church will be receiving lease income during the payback period of the loan, give a description of each lease, including type
   of business, monthly income, termination date(s), and church’s intentions regarding renewal.
7. Does the church have any funds in savings or other investment accounts, other than in ADF ?         Yes           No If yes,
   please provide the following information about each account and mail your most recent account statement(s) to us:

    Name of institution                                                                            account balance
    type of account       savings/money market           certificate of deposit       stock/mutual fund          other
    what are the funds within this account designated for?
    Describe any consistent deposit or withdrawal activity (i.e. you deposit X% of offerings as a reserve, etc.)


    Name of institution                                                                            account balance
    type of account       savings/money market           certificate of deposit       stock/mutual fund          other
    what are the funds within this account designated for?
    Describe any consistent deposit or withdrawal activity (i.e. you deposit X% of offerings as a reserve, etc.)


8. The investments of Alliance individuals and churches like yours are the primary source of the funds that ADF uses to make loans.
   One requirement of receiving an ADF loan is that the church be willing to support this program by investing its excess funds in an
   ADF account. We believe you will be very satisfied with both the investment options we can provide to you and the interest rates
   that we offer. Please indicate your acceptance of this investment requirement:

       Yes, we are willing to invest and have contacted ADF about this (888-878-3060 toll free, or 719-268-2250).

       Yes, we are willing to invest. Please have an ADF representative contact us (name)
        at (phone number)                                      (e-mail)
                best time of day to contact

       We do not have any investment funds at this time but, should this change in the future, we agree to invest in ADF.

9. How many paid employees does the church have, including the senior pastor?                 full time       part time

10. If the church is not currently involved in a capital fund campaign, please state your intentions for conducting a campaign or
  explain why one is not being considered. What is the plan for increasing revenue to cover the mortgage payments (beyond
  simply increasing the budget)?



11. If the church is currently involved in a capital fund campaign or has been involved in one at any time during the last three years
  please complete the following table for the most recent campaign:

Purpose of capital fund campaign:                                                              Number of years in payment period:
Financial goal(s):                                                               Amount Pledged:
Enter date ranges for each year of payment period for campaign and amount received or expected (i.e. 5/01/99 – 4/30/02)
Pledge Payment                  Year 1              Year 2              Year 3                 Year 4                   Year 5
Date range>>>             Dec-00 to Nov-01    XX      to    XX      XX     to    XX       XX       to     XX       XX     to    XX
Amount received
Additional amount
anticipated (only for
current and future years)
One time gifts
received for
campaign outside
of pledges
Total                                  $0.00               $0.00                $0.00                    $0.00                 $0.00
12. If the capital fund campaign will still be running after loan funds are received, explain how the funds will be used (will they be used
  to fund construction, meet the minimum loan payment requirements, will loan payments come out of the operating budget and the
  capital fund campaign funds be used to make additional principal payments, etc.).



13. Please provide income and expense projections for the next budget year, including proposed mortgage payments

General/Building Fund Income:
General Fund
Building Fund
Total Income                                              $0.00
General/Building Fund Expenses:
Personnel
Mortgage Payments *                                                * You should have been provided a figure for calculating your monthly
Other Building & Equipment                                         mortgage payments when given this application. Multiply the amount of
Office/Administration                                              your total loan request (including any refinancing of current debt) by the
Ministry                                                           figure given to you. If you did not receive this figure, please contact our
District Operating Budget                                          office.
District Extension Budget
Fellowship Fund
Other (if any one category is greater than
10% of budget, please provide detail)
Total Expenses                                            $0.00
Net General/Building Fund Income
(Income minus Expenses)                                   $0.00

14. Does the church currently have any indebtedness?               Yes            No
  If yes, answer the following questions for each loan (attach an extra sheet if more than one loan):
Lender name

Contact name and phone number for credit verification

Secured by (mortgage, unsecured, etc.)                                                             Account/Loan #

Is collateral for this loan the same as that to be used for this ADF loan request?               Yes          No

Current loan balance                             Monthly payment                               Are payments current?         Yes              No

Interest rate          %   Maturity date                              Will ADF loan be used to refinance this loan?          Yes              No

Is there a prepayment penalty?             Yes          No      If yes, what is the penalty?

This section has been completed by:
                                           name                                                  position
Property Information for Purchase

A trustee or someone knowledgeable of the subject property should fill out this section.

1. Physical address of the subject property: Street

City                                                                             State                Zip Code

2. Describe the property being purchased (include a description of any buildings on the property).


3. If purchasing a church facility other than the building you are currently meeting in, please provide the following comparisons, as
   applicable, between the old and new structures. If purchasing the facility your are currently meeting in, please complete the "Old"
   column:
                                                                       Old             New
          Sunday a.m. worship seating capacity
          fellowship hall capacity at sit-down meal
          Christian education number of classrooms
          Christian education capacity (number of people)
          Square footage of buildings

4. Size of lot                                                                    5. Is expansion possible on this property?      Yes          No

6. If yes, approximately how much more square footage can be built on one level (enter "n/a" if relatively unlimited)

7. Has a purchase contract been signed (if so, attach copy) or payoff date established?                Yes            No

8. Date the money is needed

9. If the church cannot provide at least 20 percent of the purchase price of the property in cash, equity in other church-owned real
   estate may be used to qualify for this loan. This additional property must either be debt free or have a mortgage to ADF with an
   outstanding loan balance that is significantly less than the property's market value. If you wish to use additional property to meet
   ADF's equity requirement, please describe the property.
   What is the current market value of this additional property?                             What is the basis for this valuation (some
   objective appraisal must be provided such as realtor's estimate of market value, appraisal, etc.)


10. Is the property in a flood plane?         Yes            No      If yes, do you have flood insurance?          Yes            No

11. Is there, or do you intend to have, hurricane insurance on the property?               Yes            No

12. Is there, or do you intend to have, earthquake insurance on the property?                 Yes            No

If purchasing a parsonage, skip to 21

13. Has an E.P.A. phase I study been done?                 Yes           No

14. Is there any evidence that surrounding properties or the subject property would have contaminated soils (i.e. gas or oil tanks,
  industrial usage, etc.)?          Yes          No

15. If yes, indicate what has been done to ensure that the subject property does not have contaminated soil that will have to be dealt
  with.

16. There are many issues affecting the suitability of a site for future construction such as; the availability of electricity, gas, sewer,
  and city water, the quality of well water, feasibility of using a septic system, implications of soil quality on construction, etc. If
  purchasing unimproved land, has the church carefully evaluated these and other factors that could affect the cost and/or feasibility
  of construction?            Yes            No

17. Do you have a master plan for your property?             Yes            No      If yes, how does the subject property fit into the plan?
If purchasing unimproved land, skip to 22.

18. Explain what the church has done to verify that it can get an occupancy permit and if it has explored any changes that will have
  to be made to comply with ADA requirements, local building codes, etc.



19. Will off-street parking meet requirements?            Yes            No

20. Describe what steps will have to be taken to bring property into compliance for its intended purpose. Include information such as
  site development, zoning issues, and required improvements such as sidewalks, curbs, turn lanes, sewer, electric, etc.



21. Are there currently tenants in the property?          Yes            No If yes, how will current lease agreements affect the church
  use of this property?

22. Please complete the following:

  Total purchase price                                              A
  Closing costs (attorney's fees, title insurance, mortgage         B
    taxes, etc.)
  Down payment already made                                         C
                                                                              Balance Due (A + B - C) D                                -
  Total cash on hand for purchase                                   E
  Other cash expected prior to purchase (please explain)            F



                                                      Total Cash Available for Purchase (E + F) G                                      -
                                         Total Amount to Be Borrowed for New Property (D - G) H                                        -
  Equity in New Property (A-H)                                 I                            -
  Equity Percentage (I divided by A)                                        #DIV/0!
  If refinancing other debt (whether with ADF or not) into this new loan, or if you do not have at least 20 percent of the
  purchase price of the new property available in cash, please complete the following:
  Value of Additional Property Being Used as Collateral        J
  Current Debt on this Additional Property                     K
  Equity in Additional Property (J - K)                        L                            -
  If the current debt is with ADF, do you want this debt to be refinanced into this new ADF loan?               Yes                    No
  Value of all property used as collateral (A + J)             M                            -
  Equity in all property used as collateral (I + L)            N                            -
  Equity percentage for all property (N divided by M)          O             #DIV/0!
  Please submit a copy of the purchase contract to ADF.

23. Please provide an estimate of the increase/(decrease) that will result in the monthly utilities bills upon the purchase of this
  building compared to what the church pays now (express an estimated decrease as a negative number).

24. Please provide an estimate of the increase/(decrease) that will result in the monthly property/casualty insurance cost upon
  purchase of this building compared to what the church pays now (express an estimated decrease as a negative number).


This section has been completed by:
                                         name                                                  position
Church Health

The senior pastor must complete this section. If this position is vacant, an associate pastor or the head elder should fill
this out.

ADF believes that the spiritual health of your church is an important consideration in approving your loan request. It is important to us
that we make loans to churches that are financially strong and show evidence of being healthy Great Commission churches.
Therefore, the following information is important to your loan being approved. ADF has ministry-minded professionals on its loan
committee and board of directors and also relies heavily on input from your district superintendent and National Church Ministries of
the C&MA to help evaluate the spiritual dimension of your church’s health.

1. Please state your church’s mission (your purpose for existing).



2. Please describe the vision you have for this church (what you'll look like) three to five years from now (include new ministries and
   attendance goals).


                                                    Please enter your main worship service attendance goal for 5 years from now

3. What action steps have you defined and are taking to see this vision become a reality?




4. How will the property for which this loan is being requested help your church fulfill its mission and vision (skip to question #6 if
   loan is for a parsonage)?



5. What, if any, facilities will you still be lacking (after the project this loan is funding is finished) that are necessary for completing
   your overall mission and vision? Please describe any potential ministries that cannot function and attendance goals that
   cannot be met until these additional facilities are built.



6. Describe how you see the Lord at work in your church today.



7. How many people have been converted in each of the last five years?
               2005             2006               2007                2008                       2009              # of months

8. How many people have been baptized in each of the last five years?
               2005            2006                2007               2008                        2009              # of months

9. Highlight several of the outreach events your church held in the last three years and the church growth results (include dates).




10. Briefly describe at least one of your church’s current strategies for:
Winning the lost:


Building believers:


Equipping workers:
Multiplying leaders:


Sending the called:



11. Describe your church’s strategy for planting a daughter church.



12. Describe your church’s prayer life.



13. How is your Alliance identity made clear to those who attend your church? Please list everything that is done to make your
identity known (i.e. church name, sign, on bulletins, special classes, mention from pulpit, etc.).



14. One natural outpouring of a healthy Great Commission church is a concern for the lost around the world. Briefly describe your
congregation’s commitment to missions outside of your community.


15. Describe how your church tangibly demonstrates its commitment to C&MA missions.



This section has been completed by:
                                          name                                           position

								
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