Campus Loan Info and Guidelines
General Loan Terms:
- Completed Campus Loan Application (attached).
- Evidence of Local Church approval, and if applicable District/Conference approval, such as a Resolution or Meeting Minutes.
- Last 2 years Financial Statements, including Balance Sheet and Income Statement
- Current year Financial Budget
Projects WIF will consider for financing:
- Loan Service Fee is ½ of 1% of loan amount ($300.00 minimum)
- The payments are negotiable, and are either amortized monthly, or interest only monthly with a lump sum payment at maturity.
- Interest Rate: will vary depending on current WIF prevailing rates.
- Term: Up to 60 months.
- Loan shall be cash secured with funds held in a WIF Savings account.
- Capital Improvements
- Church or parsonage remodeling
- Heating and air-conditioning units
- Parking lots
- Church furnishings
- Office equipment
- Maintenance equipment