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Frequently Asked Questions
- What does it mean to be in a "Position To Possess?"
- Why is it important to be in a "Position To Possess?"
- Is One Accord SGP A Loan Brokering Service?
- How Does One Accord Strategic Growth Partners Charge For Their Services?
- What Type of Lenders Do You Work With?
- Who does One Accord SGP Represent?
- How Long Will It Take For Us To Get Financing?
1. What does it mean to be in a "Position To Possess?"
It Means:
(1) You have created a financial structure and strategy that will support the ongoing mission that God has planted in your heart.
(2) You have developed a Ministry Driven Budget that reflects your strategy and directs your resources toward their highest and best use.
(3) You have counted the costs of a proposed project or program before you engage ministry resources.
(4) You know how to document and communicate your financial strategy to resource providers & ministry stakeholders (such as lenders, major contributors, board members, church members, grant providers, etc.) in a way that will create the greatest advantage and opportunity for your ministry.
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2. Why is it important to be in a "Position To Possess?"
Your ability to attract cost effective financial resources to fund ministry vision will ultimately be determined by the decisions you make 2 to 3 years before ever making a funding request.
Loan rates, terms, fees and funding time will parallel your ability to demonstrate your understanding and knowledge of financial stewardship and management issues as well as your ability to properly prepare, document and present this information.
In a nutshell, proper planning, documentation and presentation speeds up the resource development process, lowers development costs and helps the ministry avoid costly miscalculations that can hinder or destroy ministry progress, projects & programs.
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3. Is One Accord Strategic Growth Partners A Loan Brokering Service?
Assisting ministries locate cost effective financing is part of what we do; However, we DO NOT charge for that assistance. Ninety percent (90%) of the value we provide is accomplished before ever meeting with a lender. Preparation is the key to attracting low cost, ministry friendly financing. Most brokers can help you locate a lender, but few can help you create ministry friendly options. Having personally underwritten and advocated many ministry loans to senior institutional credit review committees, our background adds a dimension that few can provide.
Many times the best lender for you could be right around the corner in your own community. Sometimes you may be better served by a national or specialty lender. Maybe your own denomination could assist you. We have advocated and underwritten loans of all kinds to many different types of lenders.
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4. How Does One Accord Strategic Growth Partners Charge For Their Services?
Generally, we charge a flat fee based upon the level of service provided. That fee will typically fall within a range of $1,500 to $7,500. We DO NOT charge loan brokerage fees, unless it is the preference of the ministry and agreed to by One Accord SGP. Typically, brokerage fees only increase the overall cost to the ministry and our goal is to keep costs in line with actual planning services.
Why Doesn't One Accord SGP Charge Brokerage Fees?
Simple, we are not brokers. Our value is based on the planning we provide, and it is that planning which will most dramatically increase your funding options, not mere brokerage. Because of our experience in ministry lending, we know the lenders that are ministry friendly and the value they place on proper planning.
Attracting ministry friendly lenders and acquiring favorable rates and terms has little to do with special relationships or loan volumes that we or any other 3rd Party Provider (broker or consultant) may have. Lenders DO NOT offer volume discounts to brokers, nor do they approve loans based upon personal favoritism. The availability of funds to your ministry, (timing and amount) and their associated costs (rates, fees, terms) will be based SOLELY upon your demonstrated ability to manage growth, and service the level of debt you are requesting. Nothing more... Nothing less...
Our goal is to help you prepare for that task and then lead you to those who will offer you fair terms and fair pricing for your current stage of development. We DO NOT get paid by any lender to endorse their programs. We work only for you.
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5. What Type of Lenders Do You Work With?
There are basically Seven (7) types of DIRECT lenders who may have an interest in your church, ministry or school expansion projects. We have worked with them all.
- Large National or Multi-Regional Commercial Banks with Church Lending Divisions
- Local or Regional Commercial Banks (Generally Within Your State)
- Church Bond Companies (Security Broker Dealers)
- Large Christian Credit Unions
- Denominational Lenders
- Mortgage Banks and Real Estate Investment Trusts (REITS)
- Private Notes (Congregational Funding Notes)
The hardest part of securing financing isn't locating a lender, the most difficult part is positioning yourself correctly to attract the one best suited to your needs at your current stage of development. Each type of lender carries with it both positive and negative funding attributes and abilities.
Do you know which is best suited for your current and future needs? Do you know what questions to ask and how to portray yourself to attract that funding source? The bank offering the lowest rates is not always your best solution.
There are always trade-offs. What attributes are the most important to you? Cost; Quality; Convenience; Shared Values?
We have put together 35 key questions and considerations that will help you identify the solution provider best suited to your ministry situation.
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6. Who does One Accord SGP Represent?
One Accord SGP exclusively represents and assists Non-Profit Faith Based Organizations such as Christian Churches, Schools, Universities & Outreaches.
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7. How Long Will It Take For Us To Get Financing?
I wish there was one universal answer to that question. Unfortunately, timing will depend upon your current readiness to attract funding. Questions regarding your leadership, cashflow, collateral base and the type of transaction you are looking to fund all play an important role in determining the timing and cost of your funding. Finding out that you are not prepared to answer questions regarding these types of issues in the midst of your financing request will not only slow down the funding process, it often stops it dead in its tracks.
Prior to any lender presentation, we will help you identify, think through and prepare for over 150 key issues that lenders can and will expect you to be able to manage and communicate.
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