Short-term Variable Rate Loans 
Sometimes a church or faith-based organization only needs to borrow for a short period of time in order to take advantage of a special buying opportunity for land or a building.  We recommend short-term borrowing whenever a church has contracted to sell its current building, but has not yet closed and received cash.  We also recommend this form of borrowing whenever the property being purchased can be repaid within 2-3 years from a capital gifts program, pledges or some other reliable means.  

Interim Loan Convertible to Permanent Financing 
JEBENA,INC pioneered this form of financing with a great staff with experienced since 1993, which is now an industry mainstay!  Specifically, this form of financing combines the best of short-term and long-term financing whenever a church needs immediate cash to close on a building or land purchase AND wants to get its long-term financing in place simultaneously.  We have also used this form of financing to help churches whose financing failed to materialize AFTER their construction project began!

Great Nation is able to arrange interim funds to purchase real property or pay construction costs on a “co-first” mortgage basis.  The "co-first" mortgage allows the interim loan and the bond offering to share equally in the church's collateral.  This method allows your church to immediately use the interim loan to purchase real property or pay construction costs. In the meantime, Great Nation initiates the church’s bond offering also on a “co-first” mortgage basis. 

Once the interim loan is funded and the bond offering begins, funds received from the sale of bonds are used to repay the interim loan until the interim loan is fully repaid.  A primary advantage in this form of financing comes from the fact that the church is only required to make ONE payment on either the interim loan OR the bond program, but not both!  Another advantage is the fact only one title policy fee is paid to cover the interim loan and the permanent financing (15 to 25 years).

Fixed Rate, Short-term Financing
(3-5 years)

Most churches and faith-based organizations do not realize they can take advantage of lower, short-term interest rates by issuing bonds for 3 to 5 years.  The interest rate available to them usually is the current prime banking rate!  Great Nation also specializes in short-term conventional loans:  However, the interest rate is usually higher for a conventional loan. 

Fixed Rate, Intermediate-term Bond Financing
(5-10 years) 
For select churches that have the ability to retire debt sooner rather than later, JEBENA, INC is able to design a bond offering to fit each need. 

Fixed Rate, Long-term Bond Financing

(15-25 years) 
Although you may be quoted repayment terms based upon 20 or 25 years, the simple fact is conventional loans are typically locked-in for only five (5) years with no commitment by the lender to extend your loan for a longer period of time!  Great Nation bond financing is fixed for the life of the loan and offers churches the ability to repay all or a portion of their debt ahead of schedule without penalty.

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