Do you have any recent megachurch financing success stories to share?
Rolfs: We just completed the successful closing of a large financing for The Summit Church in Durham, N.C. The church is affiliated with the Southern Baptist Convention, and loan proceeds were used by the church to purchase its new Brier Creek Campus, a 23-acre campus that includes two commercial buildings and approximately 15 acres of vacant land in the heart of the Raleigh-Cary and Durham metropolitan areas. The church issued $11.3 million par amount of 2010 Series Bonds, and the bonds were all sold through Ziegler’s retail distribution. This [church finance] was a great outcome for all parties involved. Summit was able to lock in long-term rates before they possibly head higher and acquire the property at a favorable purchase price that may not have been available a few years ago. Healthy growing churches can use this market downturn to accomplish capital projects or strategic acquisitions at reasonable prices. The financing is out there for well-thought out projects. Watch future e
