The Foundation makes loans to Kansas-Nebraska Southern Baptist missions and churches to purchase land, an existing building, build a new building and/or remodel existing buildings.
The loans can be for any length of time up to a maximum of fifteen (15) years with variable interest every three (3), five (5) or ten (10) years.
All interest received from loans is given to the Kansas-Nebraska Convention of Southern Baptists for the support of field missionaries.
If you are thinking about buying, building and/or remodeling, please refer to:
The Foundation now has 3 interest rate options effective 05-01-09 as follows:
This interest rate will remain the same for three years. It will adjust on each third anniversary of the loan to the then current 3-year adjustable interest rate. It may not adjust more than 3% (300 basis points) up or down any any three year adjustment or 5% (500 basis points) over the life of the loan.
Current rate: 5.25%
This interest rate will remain the same for five years. It will adjust on each fifth anniversary of the loan to the then current 5-year adjustable interest rate. It may not adjust more than 5% (500 basis points) up or down over the life of the loan.
Current rate: 5.50%
This interest rate will remain the same for ten years. It will adjust on the tenth anniversary of the loan to the then current 10-year adjustable interest rate. It may not adjust more than 7% (700 basis points) up or down over the life of the loan.
Current rate: 6.00%
PLEASE NOTE: The above rates are subject to change without notice. All rates cannot fall below a floor rate of 5.0%.