What is the loan approval process?
Fill out our simple Two Minute Online Application. Our Money Flow Representatives will Pre-Approve your loan request and telephone or email you so that you can fax or bring in the required information. Our Representatives will verify this information and then either proceed with your loan in person or deposit your approved amount into your bank account! When your loan is due, the principal plus fees can be paid either via cash, cheque or we will debit it from your bank account. Your Choice! You NEVER have to leave the COMFORT of your own home or office if you dont want to. It is that EASY!
Short term unsecured loans can be approved within seven days after the application is approved by the classis and forwarded to the RCACGF’s loan officer. For all other loans approval can take from two to six weeks after the application is approved by your classis and forwarded to the RCACGF’s loan officer (depending upon when it is received). To ensure that your application is considered in a timely manner, be sure to coordinate it through your Regional Synod Executive. The loan approval process for churches is as follows: STEP ONE — The loan application is completed by the consistory (with any necessary assistance by the classis and regional synod representative) and submitted (with proof of consistory and/or congregational approval) to the RCACGF loan officer. At the same time copies must also be sent to the applicant’s classis for recommendation of approval or disapproval by its applicable committees, and to the applicant’s regional synod executive for his or her review and comment
The next step to speed up the application and approval process is by having the following list of documents available at the time you make your loan application: • Name in which title is to be held and Social Security Numbers • Names and addresses of landlord or lender for the past 2 years. Previous address history for 7 years. • Names and addresses of employers for the past 2 years • If you are self-employed or commissioned, furnish at least 2 years of complete tax returns or apply for the new ‘no income stated loan’. • Names and addresses of financial institutions with your account numbers and balances • Lease agreements, to verify rental property income • If you are using income from child support or alimony to qualify for a loan, bring copies of all pertinent court decrees • List of all assets (stocks, bonds, autos, etc.
