Lines of Credit

Lines-of-credit loans are to be used for anticipated cash flow deficiencies in operating budget on a recurring basis.

To start the process:

• Complete loan application.
• Review application for complete and accurate information, including important date, property information, contact person, etc.
• Contact your District Vice President early in the process. They are a valuable resource and your local representative in the process.

Facts about lines of credit:

• Credit Limit: 15% of previous year's income (excluding building funds and bequests).
• Term: Five-year period with annual review. Interest on outstanding balance billed monthly.
• Zero-Debt Period: The balance must be reduced to zero for 30 consecutive days out of each 12-month period.
• Loan fee of 1% of new money up to maximum of $7,500.

If you have questions, you may contact us or see the frequently asked questions.