F.A.Q
At Alliance Business Capital we welcome your questions.
Below are the some of the questions we get the most.
If your question is not addressed here please feel free to Contact Us with any questions.
How long will it take for me to get my loan?
We pride ourselves on moving fast and efficiently. Alliance can complete the transaction in as little as 3 – 4 weeks. However, it normally takes 45 to 60 days from us receiving back the signed letter of interest. But it depends on several factors.
- Borrower responsiveness. The more responsive the borrower or broker is at providing us necessary information, the faster we can move
- Third party reports, like appraisals and environmental reports, typically take 30 days to complete. Alliance is not in control of this. We will do everything we can to speed them along
- Once all third party reports are in and we obtain a final underwriting approval you are normally looking at 2 weeks to close
How much will it cost me to get my loan?
Costs of origination varies depending on the loan type and structure. Alliance typically charges a 1% Commercial Loan Fee on all Church Loans.
You will need to get an appraisal, and an environmental report. There are other costs like attorneys fees, etc. Closing Costs which can usually be rolled into your loan. Your estimated costs will be outlined in your commitment letter, and can be explained by your Alliance Representative.
How much cash will I need to get my loan?
This will depend on the loan type. On Refinances, you may need no cash at all (with the exception of deposits for third party reports and an Alliance Processing Fee). For a purchase, you will need to contribute a portion of the loan amount in cash, and this will usually be between 20% and 30%.
Your Alliance Representative will help you structure the loan so it best fits your financial situation.
Is Alliance a broker, or a direct lender?
Alliance currently acts as either a Loan Intermediary, Correspondent Lender, a Loan Consultant or a Broker.
Is Alliance a bank? Will I need to have my accounts and deposits with you to get a loan?
No. We are not a bank, however most of our Lending Partners are Banks. You will not be required to have a deposit relationship with any of our Lending Partners.
How do I start the process? Who do I contact.
You can download an Application Package from our Church Loan Forms page, you can fill our our online Quick App or you can contact Alliance directly.
We will get back to you right away to talk about your Churchs current loan needs.
What kind of Loan Programs are available through Alliance?
One of the best things about dealing with us it that because of our different Lending Partners we are able to offer almost everytype of financing program that is available for a Church.
Please see our Loan Programs page for more details.
Why does Alliance charge a Processing Fee?
It is very time consuming to process a Church Loan Package these days. Alliance charges a minimal fee to help offset some of our time and expense that is involved in the handling of your loan request.
Again if you have a question that is not addressed here please feel free to Contact Us.
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