• Loans shall be for the purchase of real property, church buildings, or the construction, renovation and repair of local church structures, or the consolidation of building debt.

• Loans may equal Total Raised for the prior 3 years, up to a maximum of $400,000.

• Loans must be secured by a first mortgage or deed of trust and evidenced by a promissory note.

• Loan repayment must be fully guaranteed by the district advisory board.

• Loan applications must be approved by the district superintendent and the district advisory board.