| General
Assembly's Get the Point!
Rebate Program
If your church loan is originated with funds provided by the
Presbyterian Investment and Loan Program's investors and banking
partners, it is eligible to receive an interest rate rebate
through the Get the Point! rebate program. The maximum
rebate can reduce the interest cost charged on your loan by
as much as 1 percent.
Here's how:
When your congregation receives a loan from the Presbyterian
Investment & Loan Program, a rate is set for that loan for a
given period of time. The session informs members and friends
of the congregation about the Presbyterian Investment & Loan
Program, its investment opportunities and how investing can
save your church money
- Once designated investments equal 35 percent of
the congregation's outstanding loan balance, one-quarter-of
-one percent (0.25 percent) of the mortgage rate is rebated for each
month the 35 percent mark is maintained.
- When 50 percent is achieved, 1/2 of 1 percent is rebated
for each month the 50 percent mark is maintained.
- When 75 percent is achieved, 3/4 of 1 percent is rebated
for each month the 75 percent mark is maintained.
- When designated investments reach 100 percent
of the congregation's loan balance, one full percentage point
(1.0 percent) is rebated for each month the 100 percent mark is maintained.
Since the rebate ratio is calculated on a loan's declining
balance, almost every loan eventually receives a full, one percentage
point rebate.
|
- Files marked with this icon can be downloaded in printable Adobe Acrobat format. This file requires the free Acrobat Reader. For best results, right-click the link (or click and hold for Macintosh), select " save target as" and save the document to your desktop for viewing and printing.
