HOW CAF BANK ENABLED A CHURCH TO FINANCE THEIR BUSINESS ENTERPRISE
Christian Life Ministries (CLM), now with a core congregation
nearing 600, had outgrown their previous building necessitating new
premises.
Through a combination of fundraising and bridging finance, a new
property was built, opening in late 2011, providing both an
auditorium for religious services as well as banqueting and
conference facilities to be used by the local community - local
businesses, public sector bodies and community groups.
Facing strong competition from high street lenders, CLM chose
CAF Bank to refinance the existing bridging finance of £1.8m due to
its:
- competitive pricing and terms, providing the medium-term
flexibility required from a banking partner
- personal approach and high level of engagement
- deep understanding of and a desire to support the charitable
sector over the long-term.
The drawdown of a mortgage*, secured against a new purpose-built
building, has provided CLM with the necessary long-term security
the trustees require to make appropriate investment decisions to
support a rapidly expanding congregation and freeing vital funds to
help further its community outreach into Coventry and beyond.
“We found the combination of understanding, attractive
commercial terms and [CAF Bank’s] professionalism to be
compelling”.
Matthew Davis, Christian Life Ministries
If, like CLM, you are considering loan finance to continue
your charity’s mission, call our charity loan experts now for a
free consultation on 03000 123 444.