Converge Cornerstone Fund The Impact of COVID-19 and Ministry Lending S T A R T . S T R E N G T H E N . S E N D .
Webinar presenters Kirk Tate Assoc. Director of Church Lending kirk.tate@converge.org Barb Ehlers Relationship Specialist Barb.ehlers@converge.org STAR T. STR ENGTHEN. SEND.
Distinctives of a Cornerstone Fund Partnership • As a member of the Converge Family, we are committed to being a partner with you in ministry. • With 65+ years of experience, we have experience in working with churches through difficult times. • We are committed to the mission of starting and strengthening churches worldwide. In both 2018 and 2019, the Converge Cornerstone Fund gave back $1.8MM each year to help start and strengthen churches globally. STAR T. STR ENGTHEN. SEND.
Partnering through the crisis • Is the Cornerstone Fund still lending during this time? • How have Cornerstone Fund’s rates been impacted as a result of the COVID-19 crisis? STAR T. STR ENGTHEN. SEND.
Cares Act and the PPP • Does The Payroll Protection Plan Loan (PPP) Impact Existing or Future Loans With CSF? • Does the PPP loan impact collateral? • Will the church receiving the PPP loan impact their ability to get a future loan with Converge Cornerstone Fund? STAR T. STR ENGTHEN. SEND.
Lending amidst COVID-19 • How Does The COVID-19 Crisis Impact Churches Exploring Current Or Future Loans? • How is the Cornerstone Fund going to address a decrease in giving and/or attendance during the period of the COVID-19 crisis? • What if the church is still not able to gather at full capacity at the time of the loan application? STAR T. STR ENGTHEN. SEND.
Ways we can partner with your church • Investment options • Building purchase • Construction/ Renovation • Land purchase • Refinancing STAR T. STR ENGTHEN. SEND.
Never too Early • If your church is looking to: -Determine what a reasonable debit limit may be -Want help strategizing for future ministry expansion -Need help knowing how much your church may need to raise • Free Financial Analysis -3-years Profit and Loss Statements -Year to Date Profit and Loss Statement STAR T. STR ENGTHEN. SEND.
Question and Response • Opening the group for questions. • If you have a very specific question or would like to schedule a free financial analysis, please email loans@converge.org. STAR T. STR ENGTHEN. SEND.
Thank you Kirk Tate Barb Ehlers Assoc. Director of Church Relationship Specialist Barb.ehlers@converge.org Lending kirk.tate@converge.org 877.228.8810 | Loans@converge.org
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