HVAC Loan

The church wants to borrow $90,000 from the Board of Church Extension to fund our new HVAC system.

The interest rate on the loan is 3.75% for the first three years and can be adjusted in subsequent years with a maximum of 6% over the live of the loan. The monthly payment is $1,650.

The loan requires the approval of both the church trustees and the congregation

Here’s the formal resolution the church trustees and the congregation will be asked to approve.