CD & E Fund
- Loans from the CHURCH DEVELOPMENT & EXPANSION Fund are limited to Churches whose title is held in the name of the AB & NWT District or in the name of The Pentecostal Assemblies of Canada.
- Interest rates will be determined as per the guidelines of the CHURCH DEVELOPMENT & EXPANSION Fund policy.*
- Interest rates will be set for a renewable term of no longer than 5 years. The interest rate for the first term will be determined at the time of approval or the advance of funds. Subsequent rates for each renewal term will be determined at the time of renewal. Funds will be amortized based on the terms outlined in the CHURCH DEVELOPMENT & EXPANSION Fund policy. The maximum length of amortization is 20 years.
- In accordance with the provision of this loan a lump sum amount may be pre-paid at any time without penalty.
- The property title must be in the name of The Pentecostal Assemblies of Canada. The AB & NWT District reserves the right to register an interest in the real property in question.
- Where the borrower is approved to receive funding for construction projects, the AB & NWT District reserves the right to require a legal sub-search of work completed and costs associates; or, in lieu of that the AB & NWT District reserves the right to require verification of construction progress completed, prior to any advance of funds.
- All loan applications (click here to download form) require AB & NWT District Executive Committee Approval. Please ensure you have talked with the Director of Finance & Administration to ensure your request is presented at the next District Executive Committee meeting.
* Fund guidelines can be attained from the Director of Finance & Administration at the AB & NWT District Office.
If you have any further questions about the process, please feel free to contact the District Office.