COGBF Financial Solutions, Inc. currently provides term loans to refinance existing church loans. Our goal is to begin offering construction loans (new build, remodels, or expansion), and loans for new purchases to COGBF, Inc. churches, ministries, and educational facilities.
Q: How does the Extension Fund Provide loan services?
A: The Extension Fund can provide loan services to COGBF churches through the investment of those who are willing to place their monies in the Fund. This program is open to all COGBF members to invest as either individuals or corporate entities.
Q: What types of loans will COGBF Financial Solutions offer?
A: Currently the type of loan offered will be primarily for church mortgage refinances. Loans for church renovations and new acquisitions begin as funds are available.
Q: How long does processing take for the loan application?
A. 15-to-30 days after all the proper documentation and criteria has been met by the applicant.
Q: Who approves the loan?
A: An underwriting team for COGBF Financial Solutions will review, process, and give preliminary approval to the loan application. After the review process, it will be submitted to the COGBFFS Board of Directors for final approval.
Q. Will loans be offered for the congregation such as first mortgages, and lines of credit?
A. Not currently.
Q. Will personal loans be made to individuals?