IPHC Extension Loan Fund has money to lend, board votes to lower loan rates When churches need capital for building programs they typically review an

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IPHC Extension Loan Fund has money to lend, board votes to lower loan rates

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When churches need capital for building programs they typically review and interview with their local community banks and shop for competitive rates and frankly, it's a smart move to shop rates.

In commercial lending it is easy to recognize that loan rates offered by local community banks and federally regulated banks are as low as they can possibly go, especially since Fed Chairman, Bernake stated those sentiments earlier this week. Given the Fed now has nowhere to go but up, now is a good time to consider a refinance of loans and shop for longer term rates. Churches who are on balloon notes with their local community banks or churches who have adjustable rate mortgages would be wise to look at other long termfixed rate mortgage options or at least consider longer term balloon options.

The Extension Loan Fund has specialized in church lending since 1958 and is not constrained by the lending guidelines of local banks or federal banks. This simply means we have significantly more lattitude to negotiate the terms of loans and even have the ability to customize loans for each particular congregation. In a recent meeting of the Board of Directors, the Loan Fund voted to lower its loan rates and to continue offering a 1/4 percent reduction on any rate when churches volunteer to make payments by electronic transfer of funds. This combination could potentially reduce the loan rate by as much as 2.00% for well qualified churches. With the added benefit of low to no closing costs from the lender and flexibilty of terms and the fact that funds from mortgage payments allow us to expand the Kingdom by assisting more churches, it makes sense to shop the Extension Loan Fund for a note that could save your church money. The Loan Fund currently has millions of dollars to lend to churches who are members of the International Pentecostal Holiness Church and would like the opportunity to evaluate your congregations needs and possibly provide some solutions to assist your church.

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Insurance Companies who understand risk management for churches

The Loan Fund is often asked which insurance companies a church should choose. Given the complexities of coverages needed for churches and their many functions, we have found the following companies to be outstanding resources for churches.

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Church Mutual

The Leading Insurer of Worship Centers

For 115 years, Church Mutual has specialized in insurance for religious organizations. Our market also includes religious-related schools, camps, denominational offices, and senior living facilities. We insure religious institutions of all denominations.

Church Mutual markets most lines of commercial property and liability insurance, including multiple-peril, workers' compensation, and commercial auto insurance. We do not offer life or health insurance.

Church Mutual operates in all 50 states and the District of Columbia.

Church Mutual insures more religious institutions than any other company in the United States.

Visit Church Mutual

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Brotherhood Mutual

Our mission makes a difference

Brotherhood Mutual insures America’s churches and related ministries. We have for more than 90 years. But there’s more. From our perspective, insurance is more than a commercial endeavor. It’s a platform to accomplish our mission: to help America’s churches and related ministries build the Kingdom.

We do that by providing quality property and liability insurance coverage, custom designed to help churches and related ministries do their work safely and effectively.

Brotherhood Mutual insures more than 40,000 churches and related ministries and offers its MinistryFirst property and liability coverages in 43 states and the District of Columbia.

Visit Brotherhood Mutual

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GuideOne

Safeguarding Ministries on Many Levels

After developing the nation’s first multi-peril package policy for churches in 1962, GuideOne has grown to become America’s leading church insurer. Today, GuideOne protects more than 45,000 church policyholders across the United States.

To safeguard ministries on many levels, GuideOne offers...
• The most comprehensive insurance coverages available;

•A full line of employee benefits;

• The industry's leading safety and security resources through the GuideOne Center for Risk Management and SafeChurch;

•A lineup of value-added special services no competitor can match.

Visit Guideone

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