Foundation has loan funds available
Loan funds are available from the Kansas-Nebraska Southern Baptist Foundation for churches looking to build or remodel. The Foundation is able to loan up to $250,000 to a church or church plant. But both Valley State Bank and the Baptist Foundation of Oklahoma can participate with additional funding needed. Valley State Bank participates in 10 percent or more of all church loans.
The Revolving Building Loan Fund may be used for purchasing land, constructing a building, or remodeling an existing structure. It currently has about $885,000 available to loan to churches. Current interest rate is 4.75 percent on a 3-year adjustable loan and 5.0 percent on a 5-year adjustable for a period of 15 years. Most interest goes toward mission support for KNCSB.
The Vanderbilt Church Planting Fund may be used for acquiring land and/or facilities to assist for new church plants. About $450,000 is available to loan. Current interest rate is 3.0 percent for a period of 15 years.
The Church Sites Loan Fund is loaned to churches for purchasing church sites at 3.0 percent interest for a period of three- to five years.
Or call 800.984.9092.