Loans - Qualifying for a Loan

Prioritization

Eligible Borrowers

Eligible Loan Purposes

Qualification Criteria
 

Who Is Eligible for a Church Extension Loan

Our first priority is to churches and other entities directly related to the Christian Church (Disciples of Christ). However, we also seek to serve other congregations and faith-based organizations to the extent our financial capacity allows.

Loan requests from authorized borrowers will be prioritized as follows:

Disciples borrowers:

1. Congregations listed in the Christian Church (Disciples of Christ) Year Book and Directory, and congregations listed in the Annual Report of the Christian Church in Puerto Rico. (It is understood that this category includes congregations "in formation" or recognized by a Region, prior to that congregation being listed in the Year Book and Directory
2. Regions and Areas of the Christian Church (Disciples of Christ), and the Christian Church in Puerto Rico
3. General Units and the General Assembly
4. Colleges and seminaries listed in the Year Book and Directory
5. Recognized organizations as listed in the Year Book and Directory, and the World Convention of Churches of Christ

Other borrowers:

1. Non-listed congregations participating in District Assemblies affiliated with the Christian Church (Disciples of Christ).
2. Congregations or judicatories of other denominations through participation loans with their respective denominational lender.
3. Other Campbell/Stone congregations, not listed in the Year Book and Directory.
4. Ecumenical organizations with which the Christian Church (Disciples of Christ) or any of its general, regional or area units maintain functional, programmatic or financial relationship.

Notes of clarification:

• Prioritization is with respect to the making of loan commitments. Once a loan commitment has been approved, each commitment will be of equal priority.
• Where there are available resources to meet loan requests of all of the above borrowers, Church Extension staff may consider such requests and present such for approval
• If a borrower in a lower priority category chooses to provide supporting investments for a loan, such borrower will not be subject to prioritization, although they will be subject to all other remaining restrictions.
• Without the approval of the full Church Extension Board of Directors, the maximum loan to any one non-Disciples borrower shall be 1% of total assets, or $1 million, whichever is larger
• Consideration of any loan request from prospective "other borrowers" group above must first be preceded by a "Look With Favor" action by the Board of Directors, in accordance with loan policy.