BCLC Lending Rates

Terms of BCLC Loans

• New loans are fully-amortizing, fifteen or twenty-year term notes that adjust according to the interest rate option that was selected by the church at loan closing (one-year, three-year, and five-year rate options available). 
• BCLC takes a first lien on all church land and improvements. The maximum loan to value is dependent upon the size of the loan and ranges from 60% to 75%.
• BCLC does not charge any origination fees at loan closing.
• There are no prepayment penalties.  Our churches are free to pay down or pay off their loans as quickly as they would like.
• None of BCLC loans are balloon notes.  This means that churches are not required to refinance every three or five years.
• BCLC does not require cash flow covenants that borrowers have to adhere to over the life of the loan in order to remain in good standing.