Church Loan rate is currently at 3%
The loan fund was established in 1955 to enable United Methodist churches of the North Carolina Conference to realize some of their dreams for mission and ministry. Loan applications are considered on cash available basis. As funds are repaid, new loans are originated. At a given point in time, funds may or may not be available to make new loans. Loans are also considered on a missional basis. Churches receiving missional priority are those in low income neighborhoods and those needing more space to engage in cross-cultural and cross-racial programs.
This program may include the services of a Building Consultant, working on behalf of the Conference with missional priority churches. The consultant may be able to offer other loan terms. Their ministry activity assists churches through the building process to assure proper completion of each project.
The usual time line for processing a loan is approximately 8 weeks. Upon completion of the approval process, please allow another 4 to 6 weeks for funds availability.