Loan Approval - Eligibility

Church Extension loans are made available to South Dakota District LC-MS  congregations and associations of congregations which meet established terms and conditions.

1. Loans are available for:

            a.    Sites

            b.    First Unit for Ministry

            c.    Parsonages

            d.    Parochial Schools

            e.    Replacement for Rented or Inadequate Facilities

            f.    Second Unit

            g.    Student Centers

2. Loan requests for sites are to include the following:

            a.    Place

            b.    Site Location and Description

            c.    Financing Terms

            d.    District Fund Involvement

            e.    Distance to Nearest Lutheran Church

3. Criteria for determining loan eligibility include:

            a.    Relationship of Loan Total to Property Value

            b.    Financial Performance of Congregation-Historical and Projected

            c.    Growth Potential of Area and Membership

            d.    Pledge Program for Building Fund

            e.    Indebtedness Per Communicant

            f.     Percentage of Total Income Required for Debt Service

            g.    Level of Support to District and Synod

            h.    Availability to Service Debt

For an application or more information:   

                                        Church Extension Fund

                                        South Dakota District

                                        Lutheran Church - Missouri Synod

                                        PO Box 89110

                                        Sioux Falls, SD 57109

                                        (605) 361-1514

                                       rgayken@midco.net

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