The funds have accumulated over the years through specific bequests and excess operating funds from quite a few years back. The initial source of some of these funds has been United Mission dollars. The loans are available to member churches in good standing throughout both the Indiana and Greater Indianapolis Regions. A monthly payment is required even though larger payments may have been made in prior months. Early payment is certainly encouraged to allow funds to be available for future needs and to assist the church in completing its projects.
Interest is computed on a monthly basis.
An amortization table is provided and updated as necessitated by additional payments. The required amount of payment will remain the same over the life of the loan. By making scheduled payments only the life of the loan is 108 months. If your church desires an Edifice loan, please complete the application attached and submit along with the required documents. Requests are considered in the order received.