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.

* CAF Bank loans are non-regulated products.

Loan applications subject to credit assessment. Security will be required.

Charity assets may be at risk if you do not keep up with the repayments for a mortgage, loan or any other debt secured on them.

If you're thinking of consolidating existing borrowing, you should be aware that you may be extending the term of the debt and increasing the total amount you pay.

CAF Bank Limited (CBL) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 204451. Authorisation can be checked on the financial services register at www.fca.org.uk

CBL Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ. Registered under number 1837656. CBL is a subsidiary of Charities Aid Foundation (registered charity number 268369).