Loans

“As a new pastor coming in to Crestview, communication has been seamless with the Alabama-West Florida Development Fund. They have helped us make ministry possible. Working with the Development Fund was a no-brainer.”
— Reverand Michael Precht, Crestview UMC

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 and pays attractive interest rates to investors in Alabama and West Florida.

The Development Fund accepts investments from individuals, churches, and organizations across the Alabama-West Florida Conference. The Fund pays these investors a rate of interest set each quarter then makes loans to churches, agencies, and missions in the conference.

To start the loan process, fill out this form and contact us at 334-793-6820.

Types of loans

  • New church construction
  • Purchasing property
  • Major renovation projects

Loan Rates

  • Rates are currently 4.0% and are set quarterly by Directors.

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

How Churches Can Begin the Loan Process

1. Meet Requirements

Meet Discipline requirements, get approval from the District Buildings and Location Committee, and get approval at a called church conference.

2. Secure Pledges

Conduct a financial canvass by the borrowing congregation, bona fide pledges made, and secure pledges in an amount equal to the total of at least 2 or 3 years of the amortization schedule.

3. 10% of Proposed Project

A church must have a minimum of 10% of the total cost of the proposed project in hand in a separate building fund account at the time the loan is approved.

To get started on a loan, fill out this form and contact us at 334-793-6820.

Downloadable Resources