Established in 1984, the Development Fund makes loans to churches and agencies in the Alabama-West Florida Conference for new church construction, purchasing property, and major renovation projects. The Fund offers low-interest loans for up to $1 million dollars and pays attractive interest rates to investors in Alabama and West Florida.
Why Borrow from the Development Fund?
- We loan money to churches at rates that are significantly lower than typical commercial rates.
- Loan terms for up to 15 years
- Fixed interest rates for one year
- Competitive rates
- No points or closing costs
- Excellent service provided by the Development Fund Board, which consists of United Methodists with expertise in finance and banking and experienced in complying with Book of Discipline guidelines for building and loan projects
Rates are currently 3.5%. To get started on a loan, fill out this form and contact us at 334-793-6820.
The Development Fund also accepts scholarship applications from students in seminary. Since 2000, we have given out over $2 million dollars in scholarships. In 2015, we disbursed $249,540 dollars to scholars.