At U.C.I.S, we know that every church is different. That's why there's no such thing as a typical church loan.
Our main aim is to resource your church to do what God calls you to do—when you're called to do it. So we work with you to build a loan that complements the mission and the method of your church.
It's simply a matter of talking to us when you're ready!
Got more questions?
Are we eligible for a loan with U.C.I.S?
What are the interest rates?
Are there any fees and expenses?
Who do we talk to if we want to find out more about
a U.C.I.S loan?
Are you eligible for a loan with U.C.I.S?
When we assess your eligibility, we are generally looking for a minimum loan to valuation ratio (LVR) of about 65 per cent. This means that the church should have at least 35 per cent equity in the property, with U.C.I.S financing the remaining 65 per cent.
Another important factor is the church’s capacity to service debt. If we can show that the church can meet the interest cost of the proposed debt 1.5 times (after adjusting rent, depreciation and other non cash elements), it usually shows that debt will be manageable.
Whatever the case, we’ll help you through the process when applying for a loan. We work very closely with your ministry/business team to understand what is achievable financially. We look at general income, irregular income (such as harvest and miracle offerings), specific fund raising strategies, planned giving, and management of building funds. Once we understand the cash flows of your church, we can begin to design a loan that best suits you.
Our church loan rates vary from deal to deal, and depend on variables such as the type of project, current and anticipated cash flows, and the servicing capacity of the borrower. Our variable rate is linked to the Australian Bank Bill Swap Rate (BBSW) 90 day rate, and is reset each quarter. Fixed rates are also available, as is a combination of fixed and variable. We can also provide interest only terms, balloon payments – you name it, we can do it.
U.C.I.S commonly charges an application fee which is dictated by the size and complexity of the proposal, in the range of 0.2% to 0.35% of the value of the loan. Usually there are no ongoing fees or charges levied by U.C.I.S on its loans. However, legal, valuation and government costs incurred by U.C.I.S in advancing and maintaining the facilities, including all financial institution duty, bank accounts debits tax, and any government duty payable in connection with the loan, will be payable by the borrower and may be included in the loan if necessary.
Who do I talk to if I want to find out more about a U.C.I.S loan?
Contact our U.C.I.S Loans team Ian Harding, Judy Douglas or Stephen Peake on 1300 655 653
Read more: Download our Loans brochure and checklist