There are a number of ways to finance the construction of your House of Worship. The method you choose will depend on a number of variables but should always be within a comfortable range for you and your membership.
Wardergroup can help … at no cost to you!
We can guide you through the funding process!
Upon completion of a feasibility study we can provide you with a rough estimate of the cost, as well as an assessment of your ability to raise capital through various means. We can also direct you toward financing resources through our extensive relationships with various lending institutions and others.
Ask us...we would be glad to point you in the right direction!!
There are a number of ways to finance the construction of your House of Worship. The method you choose will depend of a number of variables, but should always be within a comfortable range for you and your membership.
Methods of financing your project may include:
Borrowing from a conventional lending institution.
Sale of bonds.
Borrowing against an internal trust or savings fund.
Raising the capital through congregational fundraising.
Soliciting funds from a parent organization (like a diocese).
Private gifts or investor loans.
A combination of the above.
1. Many houses of worship will engage a broker to help them find the necessary financing. These brokers will charge a fee, usually based on a percentage of money raised. Often, they will require you to sign an exclusivity agreement that requires you to pay them a percentage even if you raise the money with a different broker or raise the money through your own efforts. This method of finding financing is particularly helpful if the congregation is cash rich or if they find it difficult to spend th etime or energy looking for financing o their own.
2. You can approach the lending institution on your own. This process often works. However, you need to know which lending institution to approach so you don't waste time and effort applying for loans with institutions that rarely lend to houses of worship. don't limit yourself to one application at a time and remember to ask them, up front, what criteria they will require to approve the loan. That way you can have all your facts in order before the debate begins.
3. Stock brokers can help you sell church bonds. Again, you can seek out a broker on your own.
4. Many institutions engage in fundraising from within their membership. This method of raising capitol can work nicely if the membership is excited about the project and has the resources to contribute.