MY CHURCH GROWTH LOAN.
This product has been specially designed to promote church growth and also offer uncommon solution to the challenges facing churches in Ghana. E.g. To aid churches in their development projects.
- Loan duration between 6 months to 3 years
- Must have a history of stable or increasing attendance for the past one or two years
- Be in existence for at least one year.
- Be incorporated
- Must be current on all its existing financial obligation
- Debt service and rentals should not exceed 25% per service income
- Repayment should not exceed 25% of the congregation total budget
- Interest rate of 5-6%
- Weekly repayment on every Sunday/ Monday
- No fees
- No hidden charges
- Easy access to financial support
- The church should be situated in the operational area
- Have a permanent business address preferably registered
- Have a regular account with Hopeline Microfinance.
- You must have monthly cash flows for the past 12 months
- Cash flow forecast for the term of the facility
- Current bank statement(s) for at least the past six months
- A resolution from the Board/Executives of the church concerned
- A pro forma invoice/bill of quantities covering the activity being financed
- Pro-forma invoices on items to be purchased to execute the contract or bill of quantities
- Must save with Hopeline for at least two months.