I am remembering from decades ago, but I think from comments here that their policy has not changed.
From experience I have learned, that if a congregation wanted to build a hall, and had already owned a building lot, and they wanted to borrow from the Society, they were asked to go to the bank for financing first. Then the bank would do an appraisal and study the viability of the loan and then if the loan was a good business investment for them they would approve the application. If the bank approved the loan, then the Society would approve the loan also, because, I assumed, the Society relied on all the leg work that the bank had done. If the bank did not approve, neither did the Society.
I was in Quebec province. Many of the halls were built in the poorer areas of town. One hall I know got in trouble with payments to the Society. The Society sent an appraiser, as they made moves to repossess the hall and sell it. Naturally, the hall, built in a poor area of town and in a residential area, the hall was basically worthless.
I got an eye opener. It was strickly business, strickly business
belbab