FINANCE COMMITTEE CHECKLIST

__How much needs to be raised to purchase/renovate the building?

__How much needs to be raised on a weekly basis to cover the mortgage payment?

__How much needs to be raised on a weekly basis to cover other expenses-insurance, utilities, maintenance, etc.

__How much needs to be raised to cover normal church expenses, salaries, administrative expenses, and normal purchases?

__How much more can be raised to cover the renovation costs?

__How long will it take to raise the budgeted renovation costs?

__How much can be borrowed?

__Can we get a bank commitment?

__What will the bank fees, interests, rates and terms be?

__Does the bank require any of the members to personally guarantee the loan?

By Stephen Ferrandi, Director, KLNB Regious Properties

Stephen Ferrandi is the Director of KLNB Religious Properties, a real estate firm serving religioius clients in Maryland, D.C., Pennsylvania, and Virginia. He is one of the top experts in land development in the region. Mr. Ferrandi frequently contributes real estate related articles to both print and online publications.