uniChurch Credit is a credit facility that aims at assisting Churches with funds when most needed.
Who is eligible?
All members of the Christian Council of Ghana and the Association of Pentecostal and Charismatic Churches
Purpose
To enable Churches to:
- Build Chapel/Church House/Mission House/Church Hall.
- Acquire musical instruments.
- Purchase vehicles, generators, etc.
Requirements
- A church applying for uniChurch Credit to:
- Construct a Chapel Building:
- must have existed as a congregation under the parent church for ten (10) years.
- Acquire musical instruments.
- must have existed as a congregation under the parent church for five (5) years.
- A church applying for uniChurch Credit must present:
- Two (2) years historic income and expenditure statement.
- Cash flow statements evidencing ability of Church to service the loan.
- Last SIX months bank statements must be provided.
Loan Tenor
- Four (4) years for Church Building.
- Four (4) years for Chapel House/Mission House.
- Three (3) years for Musical Instruments/Generators/Vehicles.
- Interest rate: Negotiable
Mode of Payment
- Monthly deductions from operating current account through standing order.
- Principal and interest may be amortized over duration of the loan.
- Deductions would not be more than 25% of average inflows over last three months.
Loan Conditions
- Insurance policy with Bank's interest endorsed.
How to Apply
Beneficiary Church must present the following:
- Signed Application Form.
- Original title documents to be lodged with uniBank (only for construction finance).
- Building permit for building (only for construction finance).
- Executed Mortgage Deed (only for construction finance).
- A Resolution for the "Executive Committee" of the local congregation.
A Resolution from the authorized supervising Church Committee.