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Church Construction Financial Planning

Tue, Feb. 28, 2012 Posted: 12:51 PM

Another financial tip from John Berardino:

One of the most prevalent mistakes I see churches make regarding church construction budgets is that they try to determine the amount of money it will take to build what they want as opposed to determining what they can afford to borrow. Put most simply a church should find out how much money they can afford to borrow before they have plans designed or start any permitting process. It is not uncommon for a church to have spent $50,000 on plans, and another $200,000 or more on permitting and purchasing materials before they apply for financing only to find out that they cannot afford to build what the architect has designed. Find out what you can afford to borrow before you start any type of construction. Our company provides a free, no obligation analysis of your financials to tell you what you should be able to afford.

By John Berardino, Sr. Vice President, Griffin Capital Funding

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