Wooster Church of the Nazarene (WCN)
Wooster, OH

In January 2006, CMAC provided a $5.8 million loan to this 800-member Nazarene congregation located in Wooster, Ohio (60 miles southeast of Cleveland) led by Pastor Nathan Ward. Founded in 1928, WCN is the largest congregation among the 66 churches in the North Central (Ohio) District of the Church of the Nazarene.

CMAC’s financing enabled WCN to complete Phase I construction on a new 92,252 square foot worship center, including the building shell for the entire facility and completion of improvements for 60% of the interior space under roof. WCN initiated construction of the new worship center in 2003 as it had outgrown the smaller facility that it had long occupied. After completing the building shell and the exterior site improvements, WCN stopped the project in mid-2005 when its construction loan was fully drawn.

WCN turned to CMAC to refinance its outstanding construction loan and provide the additional funds required to complete the Phase I improvements. CMAC provided an interest-only construction loan which was convertible into a 5-year, fixed-rate term loan. CMAC’s loan also provides WCN with additional flexibility, including an opportunity to apply the proceeds from the sale of its old worship center to Phase II construction costs as the ministry expands.

CMAC expects that under the dynamic leadership of Pastor Ward, WCN will continue to prosper and grow, with increased attendance and membership as it serves the needs of the community.

Nathan Ward, Senior Pastor
Ty Offineer, Business Manager
www.woosterchurch.org