Operations Pastor Todd Richmond of Grace Fellowship in Kentucky knows all about finding unique situations for ministry. The decades-old church has three campuses in the area with more than 2,000 people who attend.
The church wanted to launch a new multisite campus in a nearby community.
“We searched for months looking for property to buy or a suitable building to purchase,” Richmond said. “Finally, we leased an empty grocery store right in the heart of a commercial part of town.” Construction inside the store would cost about $2 million.
The church approached CIF for a loan and, “After a brief conversation, CIF was excited to help us finance the new campus using equity from our existing campus building and property. Their rates were superior to our local bank, and the ability to have candid conversations about various financing options was very helpful.”
With the buildout complete, the church opened to the public in January, 2020, with more than 500 people attending two services. Approximately 200 of those people were completely new to the church.
Richmond concluded: “CIF excels in understanding the finances and needs of churches much better than banks or other lenders …. We were so pleased with their service that we are currently working with them to finance our next campus buildout.”
To watch the Grace Fellowship story, click here!