Loan Terms & Exclusions

Loans up to $350,000 are available to a dioceses for a congregation in the Episcopal Church. Loans up to$100,000 are available to dioceses of the Anglican Communion.

The interest rate is fixed at the time of application for the life of the loan.

Current rate:
10 year loan = 6.5%

A 2 percent origination fee on the amount borrowed is paid upon approval of the loan.

Repayment term is up to 10 years, on a regular monthly amortization schedule.

Loans require diocesean co-signature and are non mortgage, requiring no lien on the property.

Total indebtedness to the ECBF (including ECBF and General Loan Fund monies) for a congregation or organization cannot exceed $350,000 ($100,000 outside the domestic United States).

No prepayment penalty.

Loans are based on a visable plan of repayment.

Exclusions: The ECBF is restricted from lending funds for operating budgets, or projects solely related to the purchase of organs or stained glass windows. No grants are made.

If you desire an application for a loan, please make the request in writing with the following information:
1. the estimated amount to be borrowed,
2. the anticipated time when the funds will be needed, and
3. a brief description of the project.

This request can be mailed to:
The Rev. Charles N. Fulton, III, President
Episcopal Church Building Fund
815 Second Avenue, New York, NY 10017

or faxed to 212-716-6267
oe e-mailed to cfulton@ecbf.org

There is no deadline for submitting applications. Upon receipt of the completed application and the required documentation, the application will be acted upon promptly.

Upon approval of the loan, the congregation returns the Promissory Note which has been signed by the Bishop and congregation, along with the origination fee check, to the ECBF. The loan funds are then released to the Diocese.

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