With more inquiries related to renovations and adaptive re-uses over large-scale building projects, the Foundation’s loan team saw reason to lower the minimum from the previous threshold of $100,000.
The rate available to borrowers is 6.5%, which compares favorably to commercial lending rates in the 8’s and 9’s.
Loans go out into the world to help qualified United Methodist churches and organizations do vital ministry in their communities. Over its nearly 20-year history, the program has funded 97 loans for a total of $44.5 million, including:
“The funds are there to be put to work,” said A.J. Thomas, Director of Client Relations. “We see this as a way to partner with churches in the specific work to which God is calling them.”
Please click here to learn more and see the application. You can also reply to this email or call our office at 888-450-1956 for a staff member to guide you through the process.
A smaller loan may often be better stewardship, said Bill Mileham, Loan Team Leader. “Every borrower isn’t in a position to take on $100,000 in debt,” Bill said. “We’re able to be flexible to meet congregations where they are.”
As realities change, the Foundation team stands firmly behind its mission to build the Church for generations to come. We look forward to the day when we partner in ministry with you.
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