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Who Qualifies for Funding

The Loan Fund is able to make loans to Planted Member Churches  and Transfer Member Churches. To be considered for a loan, whether a Planted Member Church or a Transfer Member Church, each church or institution will need to provide the following to the lending officer(s).

 

  1. Financials ‐Three years of financial statements presented in generally accepted accounting practice (often referred to as GAAP) and a current year to date financial statement.
  2. Appraisal ‐ A current market appraisal of your property.
  3. Resolution ‐ A corporate resolution authorizing the borrowed amount and authorized signatures to sign the loan.
  4. Approval - An approval letter from the IPHC Conference where the church or institution maintains its IPHC membership.
  5. Constitution ‐A copy of the current constitution and bylaws.
  6. Title Search ‐Run a current title search to be sure there are no liens or encumbrances.
  7. Survey ‐ A current survey of the property.