Construction-to-permanent loan opens doors for Colorado high school
Rocky Mountain Lutheran High School was recently able to realize its dream to expand beyond leased classrooms in Denver Lutheran, a nondenominational church, thanks to a fortuitous collaboration with a government contractor working with the U.S. Air Force. The school was ready for a permanent building after renting space in three different locations since opening in 2002. The contractor had several modular units it needed to remove from the base in nearby Colorado Springs and offered to sell them to the school.
"It's amazing how God opens doors," says principal Rick Lohmiller.
The school considered a variety of ways to fund the project before they learned that Thrivent Federal Credit Union offers construction-to-permanent loans. Rick says, "When you work with commercial institutions, being a religious group means nothing to them. But Thrivent Federal Credit Union appreciates the ministry component of what we do."
The school sought $2 million from the credit union to relocate the modular units and convert them into a permanent school structure. Their plan was to build the school on a 23-acre plot of land in Commerce City, a suburb of Denver. During his site visit, Joel Bohnenstingl, who oversees loans for churches, schools and nonprofit organizations, was impressed by the housing developments in the area and could see potential for the school's growth.
Team effort throughout the building
The new high school opened its doors in 2016. Many painting and construction projects were completed by volunteers and other resources from several Thrivent Action Teams sponsored by Thrivent Financial. Rick says, "There are Thrivent connections throughout the whole building."
What would Rick say to other schools with plans to grow? "To any church group that needs help with financing, Thrivent Federal Credit Union has to be one of your options. It's a blessing to work with them."
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