Land and Building Fund Loan Policy

1. The Pastor of the church receiving the loan must be an “Approved Missionary” of the Arizona Baptist Bible Fellowship.
2. The church receiving the loan must vote in a regular church business meeting to receive the loan and to sign a promissory note to repay the loan. A certified copy of the business meeting minutes must be submitted with the loan request.
3. The loan is to be a no interest loan.
4. The loan is to be repaid at a rate that will not cause hardship to the church until all is paid off (a reasonable payment would be 1% of the total loan on a monthly basis).
5. Payment upon the loan is to start no later than 1 year after the loan is made.
6. The loan is to be used for land and buildings only, not for rent. By buildings and land we mean buildings and land for conducting church services not parsonages, camps or other ‘‘ministry’’ related buildings and land.
7. The Pastor of the church receiving the loan must commit to making regular reports to the Arizona Baptist Bible Fellowship at their regular meetings concerning the status of the work.
8. The officers of the Arizona Baptist Bible Fellowship are to predetermine the viability of the candidate church and present a motion to the state fellowship in their regular business meeting.