Griffin Capital Funding Closes Loan for Non-denominational Church Following Split

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The entire church board, pastoral leadership, and congregation are very happy with the terms and conditions of our loan package.

Griffin Capital Funding able to highlight strengths of a church after separation from parent denomination.

Church separations are always complicated. In this recent loan closing, Griffin Capital Funding was able to keep the church’s strong financials and commitment of the church body at the forefront.

Miracle Valley Ministries of Cheyenne, WY came to Griffin Capital Funding looking for a loan to refinance their building. The church had recently separated from their denomination. The loan on their property was through their prior denomination, and the church felt it was time to find new financing. The loan officer assigned to the transaction was John Berardino, who quickly analyzed the financial statements and determined that the church would likely be approved in underwriting for a 20 year fixed loan. The church closed on the 20 year fixed loan with an interest rate of 4.29%, with no balloon, no personal guarantees and in a very short period of time.

Bill Borkenstein, Vice President of the Church Board, wrote the following about John and the GCF team, "I will be happy to recommend you and your firm. The entire church board, pastoral leadership, and congregation are very happy with the terms and conditions of our loan package. I want to personally thank you again for your time and efforts in securing this loan for our church. You were a blessing to us every step of the way."

There were challenges with this loan. When asked about the loan’s difficulties, John Berardino replied, “When a church separates from its denomination, it is normal to see a large portion of the membership leave because they do not support the separation. This happened but only in a minor way as the church leadership involved the members in the decision-making process and kept them informed. These factors were helpful to me to show the underwriter that the church is well organized and that there is not going to be a max exodus of members down the road. The people that left are all that are likely to leave.”

Now the church has a 20 year loan with a fully fixed term and an interest rate that is lower than most churches get on a 5 year fixed loan.

Those interested in learning more about financing for church properties can visit or call John Berardino at 540-736-7360 for more information.

About Griffin Capital Funding

Griffin Capital Funding has been serving churches for 15 years by providing church loans for the refinance, construction, renovation and purchase of almost any church building ( On average, Griffin provides over $100,000,000 a year in loans to churches. Griffin Capital Funding is one of the most well-known and respected church financing companies in the country. Griffin Capital Funding also offers loans to for-profit businesses through their commercial division which can be visited at

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Brad Caricofe
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