Loan Qualifications

Qualifications

The BCLC accepts loan applications from Baptist churches, which cooperate with their local Baptist association or their state Baptist convention, and from BCLC Supported Churches as defined in our Vision, Mission, & Core Beliefs. The BCLC provides loans for new construction, remodeling, parking, land, facilities, and refinancing.  The minimum loan amount for a new construction loan with BCLC is $500,000. For minimum loan amounts for remodeling projects, please contact us at (844) 273-7713. 

Loan Information

New loans are fully amortizing, fifteen year term notes that adjust annually at the current BCLC lending rate. To learn more about the current BCLC interest rates, call (844) 273-7713 for information on low one-year, three-year, and five-year options.

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 their local Baptist association, their state Baptist convention, or a BCLC Supported Church as defined in our Vision, Mission, & Core Beliefs. 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.