Financing a loan to purchase, construct or renovate property is a major undertaking. We understand your association’s desire to serve the community in His name while being fiscally responsible. LCEF’s School Association Loans help school associations meet their needs with competitive rates and the full support of LCEF’s passionate staff.
A School Association is an Association of Member Congregations formed to administer and support an LCMS school.
LCEF offers a number of School Association Loans to help your association reach its financial goals. LCEF can also help with individual congregation financing with a number of loans for churches within the LCMS.
Secured Loans can be used for equipment and organ purchases, property purchases, repairs, replacement of HVAC systems and other capital improvements. They can also be used to refinance existing loans.
Your LCEF Construction Loan can help cover the costs of constructing new buildings or renovating existing ones. LCEF’s Construction Loans have just one closing, saving your association time and money.
Construction Bridge Loans provide short term financing to fill the gap between construction completion and collection of building fund dollars. LCEF’s Bridge Loans have just one closing, saving your association time and money.
This type of loan helps with anticipated cash flow fluctuations in your association’s operating budget.
LCEF’s Jump Start Loans provide seed dollars to support new or expanding initiatives. For example, this loan might cover the payment of a new staff member for Development Director or your Recruitment Office.
Soft Cost Loans provide working capital for pre-construction related costs such as architecture/design fees, engineering fees, market studies, capital campaign expenses and special assessments.
See all loan rates.
Our SMART Loan for educational institutions is designed to meet the short-term financial needs of LCMS elementary, middle and high school associations and related recognized service organizations (RSOs).
LCEF’s SMART Loan is ideal for:
* Need help completing these types of projects? See whether a Laborers For Christ team can help! Contact LCEF to learn more.
In addition to providing for short-term capital needs, LCEF provides loans to school associations to buy land, build and remodel ministry facilities as well as loans to upgrade equipment and line of credit loans. Loans are offered at reasonable rates, often lower than commercial loan rates offered by banks. LCEF also offers planning and development services through ministry support such as demographic analysis, architectural advice, Capital Funding Services and Laborers For Christ.
Yes—with only one closing! At closing, the borrower signs a Promissory Note, which addresses the construction phase and the permanent terms of the loan.
It depends on many factors. Some projects require more planning than others. Sometimes, architecture or real estate professionals must be consulted. Local regulations and ordinances may have to be met. However, we can assure you that with the help of your District Vice President and the LCEF Loan Specialists, your loan will be processed as quickly as possible.
You application will be processed as quickly as possible, but many factors can affect the turnaround time. Within one business day of receiving your SMART Loan application, LCEF National Lending will be in contact to discuss the process.
Escrow disbursing is a service provided by LCEF to the borrower to assist in a construction project. An LCEF Loan Specialist collects documentation to establish an account for the purpose of tracking and disbursing the construction loan dollars and the building fund dollars throughout the building project. In accordance with state statutes, the Loan Specialist collects the necessary documentation from the various contractors in order to assure a lien-free and complete project.
Loan payments can be made one of three ways: