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    $668K Loan for Acquisition of Single-Family Home Provides Parsonage for Incoming Community Church Pastor

Samoan Congregational Community Church

Clearinghouse CDFI (CCDFI) facilitated the acquisition of a single-family home for Samoan Congregational Community Church (SCCC), which will serve as a parsonage for their incoming pastor. Due to its non-profit status, SCCC is not eligible for traditional single-family rental financing. Nevertheless, a $668,000 loan from CCDFI supported SCCC’s purchase of this residence.

SCCC has maintained a steady membership over the last four years despite the recent pandemic. Recently, the church has successfully called upon a new pastor from American Samoa and was seeking a suitable parsonage for him to live in. After several prospects, the church made an offer on a single-family residence that is conveniently located within walking distance of the church. The offer was accepted, and with CCDFI’s financing, SCCC has acquired the residence for its new pastor’s parsonage.

Samoan Congregational Community Church, located in Carson, CA, serves as a spiritual center for Samoan parishioners. With guidance from a mother church in American Samoa, SCCC offers a range of activities, including choir practice, Sunday School, youth fellowship events, bingo, and fundraising events.

Read the full story here: Samoan Congregational Community Church

Financing Provided:
Carson, CA
Provides parsonage for incoming pastor of church that promotes charitable activity and creates safer, more positive environment
Financing at 80% LTV for acquisition of single-family home for non-profit without direct guarantors, unable to obtain traditional financing
Year Funded:
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