One Loan, Two Sources of Funds
The General Assembly supports church loans through two sources of funds — endowment funds of PC(USA) and investor funds of the Presbyterian Investment & Loan Program. For most loans, we can fund up to $450,000 of a loan using the endowment funds. If a loan exceeds $450,000, we add investor funds to reach the borrower’s need. Refinancing existing mortgages and projects more than $2.5 million are generally funded with only investor funds.