Project Type: Building Project Financial Planning, Documentation and Loan
Client: St. Mary's Catholic Church - Le Center, MN
CFC Helped us all the Way and Guided us to "Right Size" the Project
SITUATION: After serveral years discussing the growing need for a multi-use parish building, parish leaders concluded that they were unfamiliar with an orderly process to accomplish the task and were also overwhelmed with the paperwork necessary to apply to a lender.
CFC ROLE: Aware of the CFC reputation, parish leaders invited CFC to review the situation and offer recommendations. Following the study, parish leaders teamed with CFC, who guided them through the planning process and pre-loan paperwork to construct and finance a new building, providing needed space for parish offices, meeting rooms, various classrooms and expansion of the kitchen and banquet area. The plan included new construction on the demolition site of an older parish school building.
CLIENT REFLECTION: This was a completely new experience for us and we needed professional help to walk us through the whole process. CFC helped us understand our real needs and guided us to "right size" the project. They also described the loan terms that would be best for us and we were able to use that knowledge in discussions with several lenders. Ultimately, CFC came in with the best combination of rates and terms and became our lender. In the end, CFC helped us into a very comfortable financial condition.
"It has been a great experience working with CFC. Without all their help I don't believe that we could have accomplished this project."
- Emmett Krenik, Parish Finance Committee