The Baptist Convention of Iowa Non-Interest Loan Fund will be managed in keeping with the financial policies of the Baptist Convention of Iowa under the direction of the executive director-treasurer and the Baptist foundation committee.
Any church, mission, or church plant affiliated with the Convention may make application and be given consideration for loans. Should a church, mission, or church plant withdraw from the Convention, the loan will become due and payable immediately. All loans must be approved by Baptist foundation committee.
- The terms of the loan shall be established and agreed upon in writing by the Baptist foundation committee, executive director, and the church to whom the loan is granted.
- Term of Loan: Five years maximum
- Interest Rate: 0%
- Collateral in the form of real property, second mortgage, or other acceptable form may be required.
- Default in payment may result in whatever recovery method is decided necessary by the Baptist foundation committee and executive director.
- All data submitted and gathered by the Baptist foundation committee shall be held in confidence, but will be considered by the committee and executive director as necessary for thorough investigation of the merits of the application.
- An online application must be submitted at least 90 days prior to the need for the funds.
- Applications will be received on a first come, first served basis, and each application will be considered on its own merits before consideration of the next application.
- Churches wishing to apply for funds from this account must submit an online application form and send the additional documentation requested below to the attention of the executive director before consideration for loan can begin.
- Report of current assets.
- Current documentation indicating status of ownership of property if applicable.
- Anticipated additional indebtedness during loan period.
- Copies of monthly financial reports for the past two years.
- Copies of membership and attendance records for the past two years (if your church has not submitted an ACP).
These items may be either:
- Sent electronically to: email@example.com
- Faxed to: 515-278-0875
- Mailed to:
Baptist Convention of Iowa
2400 86th Street, Ste 27
Des Moines, IA 50322