"It was an effortless loan process. There was a minor administrative issue-they sent the check too early and the interest clock started too early. They fixed this."
Kurt Dunkle, Rector
Grace Episcopal Church
Orange Park, FL
"This organization understands non-profits and stood by us as if our goal was their goal... ECBF was the catalyst that made the project happen."
Tim Doutt, Treasurer
St. David's Episcopal Church
The ECBF makes non-mortgage loans to Episcopal congregations and organizations. We are not a bank; we are a partner in your planning process. Loans are made for building projects, renovations, repairs, improvements and or purchase of land or buildings. This includes church buildings, schools, rectories, diocesan camps and buildings.
Our fund was created by gifts from church members and dioceses to create a revolving loan fund to expand the Episcopal Church. When you borrow through the ECBF, your interest payments are reinvested to support the work of the Church.
If needed, we will work with you to ensure you have a good building or purchase plan, and a viable means of repayment.
ECBF Loan – Current Terms:
Borrow up to $750,000. Larger amounts are possible.
Fixed interest rate for the life of the loan; the current rate is 6.5%
Loans are non-mortgage, requiring no lien on the property and no attorney fees or closing costs
Terms are up to 15 years
Repayment is on a regular monthly amortization schedule
Origination fee of 2%
No pre-payment penalty fee
If you are planning a very large project, an ECBF loan can be a portion of your financing package. Often, the leverage of church-based financing can support a commercial loan.
Tim Doutt, Treasurer • St. David's Episcopal Church • Cranbury, NJ
"Recasting of Building Assets" Special Micro-Loan
The ECBF is offering a special micro loan for parishes that are making strategic changes to their facilities so they can leverage opportunities for revenue generation, with a goal of financial self-sustainability.