About The Revolving Loan Fund
The Revolving Loan Fund is designed as an in-house financial resource church ministry to aid BMA missions and churches that are seeking financing. The concept of the Revolving Loan Fund evolved in a time when the Baptist Missionary Association of Mississippi mission projects suffered greatly due to a lack of financial collateral to buy property and construct buildings of worship.
This ministry is not a commercial lending institution and does not seek funding or investments outside the realm of the churches and associations of the Baptist Missionary Association. The Revolving Loan Fund is used by churches or associations which need to acquire loans to purchase property, construct sanctuaries, family life centers, parking lots, or in purchasing church vans, buses, and etc. It is through this fund that many of our local churches have been constructed. Investment accounts can be setup with the Revolving Loan Fund by BMA churches, associations or individuals. An investment account may be opened by visiting the Missions Office, requesting by mail, or downloading the neccesary application form and returning it with proper signatures and the initial investment. All decisions concerning the Revolving Loan Fund are made by careful consideration of the Revolving Loan Fund Trustees and Manager Bro. D. Lavell Lee. The trustees are: Bro. Frank Panzrino, Bro. Roy Caldwell, Bro. Doug Lee, Bro. Mike Lowe, Bro. Sam Oglesby, Bro. Billy Huffmaster, Bro. Kenneth Lott, Bro. Larry Taylor, and Bro. Steve Walters.
Interest Rate Updates
The Revolving Loan Fund continues to enjoy stability during this time of national economic stress. Investors are still adding to their accounts and new accounts are opened on a regular basis. We continue to adjust rates when necessary to meet the changing economic needs of the RLF. Effective October 1, 2009, Loan Variable Rates are 5.4% and Deposit Rates are 2.65%.
The Revolving Loan Fund continues to be a good place to invest money in the Lords’ work. Thank you for your participation and prayers.
– D. Lavell Lee, Manager