Acumen Group was introduced to a church in Ypsilanti, Michigan which was attempting to refinance the church property to acquire another property. The church had a long relationship with a local financial institution but when it made the application to refinance the church property in order to acquire an additional property, they were denied. The financial institution indicated that due to the economic crisis that was taking place in the US at the time, they were looking at decreasing their lending portfolio and that unfortunately, it meant they were not willing to extend any additional credit to the church. Acumen Group was under the realization that to fund churches is always a challenge for most lenders, but that if most lenders used a common sense approach to the transaction, deals could be packaged properly for financing. Acumen Group realized that the church was very established in the community and even though the revenue that the church had historically generated was down because of the down-turn in the economy, the church had been able to weather the storm of economic downturns in the past.
A proper financial model was created in order to show that the church presently had the strength to service the required loan and that the church had stabilized itself through the economic crisis. With this common sense approach, Acumen Group was able to secure a Bridge Loan for the church and which enabled it to acquire the new property it was pursuing.
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