Updated: Feb 19, 2020
1. Take advantage of the lowest interest rates in sixty years. Recently we lowered our loan rates across the board; adjustable rate loans and our fixed rate loans. If you have a loan at your local bank, please compare their rate to ours. If their rate is higher than ours, it would make sense to re-finance with us. If their rate is a bit lower than ours, give us a chance to match it or even beat it, because we are willing to negotiate. Our costs to originate loans are typically less than commercial lenders and we are even willing to pay up to $4,000.00 in closing costs, waive the application fee of 1% and also waive the document preparation fees.*
2. Lower your payment or plan to pay off the loan early. There are times that simply restructuring your loan to change maturity dates, payment frequency, payment amounts, structuring rates or just setting up balloon payments can help you save money up front or in the long run and perhaps even both.
3. Work in partnership with the IPHC family to carry out ARISE 2033. Every transaction you make with the Extension Loan Fund joins you with IPHC members around the globe to plant and revitalize churches from Florida to Alaska, from Hawaii to Maine, and even in the uttermost parts of the earth. Our working together in unity for the same purpose can have lasting and impact-full results. See Official Arise 2033 Goals.
4. You'll find our relationship is different than commercial lenders. Since our goal is to provide aid to our churches we are able to refinance and restructure loans in some situations where a typical commercial lender may not be able to because their lending criteria my be too cumbersome or restrictive. You will also find that our team has substantial experience in full-time pastoral ministry and lay ministry positions, in fact more than half of our staff hold IPHC minister credentials.
5. We are a non-profit, religious lender. This makes ELF very unique. We serve a very niche market that only exists to make loans to IPHC Churches, which supports the goals and functions of the Denomination. We do not make loans to individuals or businesses, only churches, ministries, and church institutions. This singular focus helps us maintain the mission of providing aid to our churches. Simply put, we exist to help you and we understand you better than any other bank could.
*Some restrictions may apply. *Non recurring costs are not included. *$4,000.00 or up to 1.5%, whichever is less. *Limited time offer.