Mission Loan Fund
The Oregon Synod has a Mission Loan Fund available to our congregations. Our goal is to make loans easily and inexpensively available for congregational program and equipment needs.Money may be loaned for almost any worthwhile purpose (except on-going operating expenses such as salaries). Acceptable purposes include: technology upgrades, purchase of sound and video systems, sponsorship of outside program providers (workshops, seminars, events, etc.) and facility repair or improvement.
We can loan up to $25,000 per congregation, repayable within 5 years. The application process is very simple – the entire application fits on a single side paper. We ask only that the congregation commit itself to repaying the loan. Otherwise, there are no onerous terms or conditions. Simply complete the loan application and promissory note and return it to the Synod Office.
Monthly Repayment |
|
Months |
Repay/month |
12 |
$85.15 |
24 |
$43.42 |
36 |
$29.52 |
48 |
$22.58 |
60 |
$18.42 |
To determine your preferred repayment plan, decide how much you wish to borrow and the length of the payback period.
Then go to the table to the right and multiply the amount in the right column for the period you have selected by the number of thousands you wish to borrow. The result is your monthly payment to the Synod.
Example: If you wish to borrow $3,000 for 4 years (48 months), $22.58 (from the table) x 3 (thousand) = $67.74 repayment per month.Repayment is simple – include it on your remittance slip and check to the Region 1 Financial Services Office (FSO) along with your Mission Support and other gifts.
You can also send your monthly repayment check separately (with a note to tell them what it’s for) to Oregon Synod/Region 1 FSO, PO Box 94432, Seattle, WA 98124-6732..
Questions? Contact:
Bonny Groshong, our volunteer Oregon Planned Giving Coordinator at First Immanuel, Portland, (503) 226-3659 or e-mail at BonnyGroshong@yahoo.com
OR
Grieg Anderson, Synod Treasurer, (503) 244-1774 or grieganderson@comcast.net.
As always, the folks at the Synod Office can help as well. We look forward to hearing from you!
Your Oregon Synod Endowment Committee