The EPA Conference Loan Fund make building project loans for United Methodist churches and agencies.  The Board monitors rates in the general marketplace and currently offers loans with a competitive interest rate of 5.25%.

The minimum loan amount is $10,000.00 and the maximum loan amount is $750,000. Loans must be for acquisition, repair and construction of real property and not for program. Loans are amortized as follows:

1. Under $50,000 - up to 5 years; and
2. $50,000 to $499,999 - up to 10 years; and
3. $500,000 and over - up to 15 years.

All loans must be secured by a mortgage or other acceptable financial assets. The Loan Fund uses simple loan documentation and lends with no closing costs, but the Borrower must pay for title insurance and to record the mortgage. Loan applications must be signed by the Pastor, District Superintendent and an authorized representative of the Board of Trustees and then submitted to Loan Fund Secretary James Anderman at pastorjim@palmyrafirst.org thirty (30) days prior to the next board meeting.  The Loan board meets quarterly, on the fourth Wednesday of January, April, July and October.

Click to Download: Loan Fund Application

Loans have a demand feature. Interest rates charged to Borrowers may be adjusted up or down 2% by the Loan Fund Board after sixty (60) days' written notice to the Borrower. All payments received are credited first to interest and then to principal.

An application will not be accepted from a Church which is currently delinquent on an existing loan until the loan is brought current and remains so for six months.

Once a loan is approved, the Borrower will receive a written loan commitment letter which, when accepted by the Borrower, holds the loan open for six months. The Borrower must submit proof of the recorded mortgage, the properly signed note and a resolution authorizing execution of the note and mortgage. Thirty days' written notice may be required to receive the loan proceeds. If the funds are not withdrawn within five months, a second letter will be mailed to the Borrower indicating that a further six-month extension will be permitted only upon written request of the Borrower.

The EPA Conference Loan Fund is a Pennsylvania non-profit corporation.

Invest in Mission and Ministry

Help local churches and conference agencies build, repair and renovate their facilities for mission and ministry.  The EPA Conference Loan Fund finances its loans to churches and agencies with funds invested by other churches and church members in Certificates of Participation from the Loan Fund.  The current certificate rate is 3.25 %.  The minimum investment amount is $1,000.00.  The certificate can be redeemed on sixty days’ notice. The Loan Board may increase or reduce rates with sixty days’ notice.

Please read the prospectus before completing the purchase application, both of which can be downloaded below.  Completed certificate purchase applications should be submitted to Conference Staff Accountant Lewis Vincent at lvincent@epagnj.org.

Click to Download:   Loan Fund Prospectus | Certificate Purchase Application

Loan Fund Officers:

• Frances Whittington, President
• Jeffrey Paiste, Vice President
• James Anderman, Secretary
• Treasurer (Open Position)

EPA Conference Loan Fund seeks new board members

The Eastern Pennsylvania Conference Loan Fund seeks qualified and committed lay and clergy volunteers to serve on its Board of Directors for a four-year term.  The ideal board member possesses passions for both ministry and financial management.

Board members serve as fiduciaries representing church and lay investors in the Loan Fund and are primarily responsible for reviewing and making lending decisions on mortgage loan applications from UMC churches and affiliated agencies.  Other responsibilities include supervisory overview of invested reserves and troubled accounts.  The Loan Fund Board meets quarterly.

Loan application review requires board members to review financial documents submitted by loan applicants to assess the applicant’s ability to repay requested loans.  A basic understanding of accounting or finance is helpful.

The Eastern Pennsylvania Conference Loan Fund has assets of $13.4 million and has 35 to 45 outstanding loans at any time.   Interested candidates should contact Jeff Paiste at paisteja@gmail.com.