Diocese of West Virginia

DIOCESE OF WEST VIRGINIA

1608 VIRGINIA STREET, EAST

P.O. BOX 5400

CHARLESTON, WEST VIRGINIA 25361

EPISCOPAL ADVANCE FUND APPLICATION

1. Date ______Church ______

City ______

2. Amount of Loan $ ______Estimated total cost $ ______

3. Purpose of Loan:

(a) Building ______

(b) To pay off debts ______

4. Who estimated cost? ______

5. Do you have a contractor’s (firm) bid? ______Amount ______

6. Name of contractor ______Bonded ______

7. Amount of your church budget $ ______

Does this contain building fund pledges? ______

If so, give total building fund pledges $ ______

8. If purpose is for paying off debts:

(a) List amount of debts and to whom owed.

(b) What is present payment schedule?

9. What collateral can the church produce to guarantee payment of loan?

(Real estate, Stocks, Bonds, Personal Endorsements, etc.)

10. Does the church have, or contemplate making, any other debts than those

listed under 8 above? ______If so, give on another page.

11. Does the church already have loans from the Diocese? The Episcopal

Advance Fund? The Christian Century Club? The Executive Council of

the National Church? If so, please explain. (Loan requests will be denied

if the applicant has available funds for their project, either in the form of cash

or securities. The applicant will be asked to use, or pledge as collateral, their

own funds. The maximum amount of loans outstanding to any one applicant

at any one time may not exceed $10,000.00.

12. What kind of organization has been, or will be, set up within the Church

membership to plan and supervise the expenditures of the money for this

project. Give names and qualifications of committee members.

13. Who will be responsible for the repayment of this loan? Will there be an

organization within the Church membership for this purpose?

14. Explain in detail how and when these funds will be used (use separate

sheet or back of this page as necessary for our understanding of project.)

15. What will happen if, for whatever reason, this loan cannot be approved at

this time?

16. Project:

Church Building New ______Enlarge ______Renovate ______

Rectory New ______Enlarge ______Renovate ______

Parish House New ______Enlarge ______Renovate ______

Other ______

17. Please supply the following data:

Number of Baptized members ______

Number of Families ______

Annual Income from Endowments

and Invested Funds ______

Income from All Sources ______

Diocesan Subsidy, if any ______

18. Explain, in narrative form, why this proposed expansion or renovation will

enable the congregation to carry out or benefit the mission of the Church.

(Use separate sheet, or back of this page, for answer.)

19. Present Facilities: Church ______Rectory ______

Parish House ______Other ______

20. If this loan is for building, when will work begin? ______

21. What is your best estimate of term of loan? ______

22. LOAN CONDITIONS

If payments are made monthly and no payments are missed, interest will be 0%;

If 2 monthly payments are missed in 12 month period, interest will be 2% on the full amount of the loan, and,

If more than 2 payments are missed in any given 12-month period, or more than (4) payments are missed over the life of the loan, interest will be charged at 8% on the full amount of the loan.

It is hereby agreed that the loan, as applied for herein, shall be fully paid according to the terms of the agreement. The payments shall be made monthly.

Additional information may be presented on separate pages, if necessary.

Please attach to this application a copy of your current Church Budget along with a statement of Financial Condition as of date of this application, copy of Vestry Minutes authorizing loan request and photo or sketch of property.

Signed: ______
Clergy Senior Warden

Amount: $ ______

______, Bishop ______

Date

Accepted: ______Church, at

______, West Virginia

Date: ______

Signed by ______

______