What types of loans are made?
The RCACGF makes short term unsecured loans and longer term secured loans called Church Growth Fund Loans (CGF Loans). The maximum amount for short term unsecured loans is $25,000. The maximum amount for CGF Loans is $2,000,000. 4. How soon must the money be repaid? Secured loans must be repaid in twenty years or less. Short term unsecured loans must be repaid in five years or less. All loans are fully amortized and repaid in equal monthly installments. 5. What are the interest rates? The rate for short term unsecured loans is 6 percent. The rate for CGF Loans is currently 6.25 percent for the first three years, and thereafter are reviewed and established periodically by the RCACGF rate committee. Typically they are comparable to or slightly lower than commercial loan interest rates generally available in the open market. Under certain limited circumstances, a church may apply for a discounted rate for the first three years of the loan term. For additional details, contact the RCACGF l
