Interest in Investing in the Mt. Carmel Children of God Baptist Church, Chicago, IL, Bond issue 2019J
You'll immediately receive a prospectus to review and sign. Just send the last two pages of the prospectus with your deposit to BFI's main office, Springfield, IL. Baptist Foundation of Illinois is a member ministry of the Illinois Baptist State Association. Thanks again for investing in our churches!
As a reminder, to qualify for a BFI loan, all churches must have a loan less than 50% of the perceived value of their property AND less than 25% of their income to be dedicated to debt service (less than a 25% debt to income ratio).
The Mt. Carmel Children of God Baptist Church continues to do critical ministry in a largely impoverished area of South Chicago. Lead by Senior Pastor Walter Butts and Associate Pastor Newlin Walloston, the church has become in a leader in outreach, particularly to children. They have partnered with the local school system and are counted as a critical member of the community. This $220,000 loan will refinance their existing mortgage, lowering their payment by more than $2,000. This will free more resources for ministry and help them eliminate their debt faster.
The Mt. Carmel Children of God Baptist Church in action @ their annual Back to School Event
Below is a video overview about how BFI bonds work.
What church are you a member?
How many bonds are you interested in purchasing? BFI Bonds are sold in $1,000 increments.
What maturity (-ies) are you interested in purchasing?
1 year have a 1.25% annual yield; 2 year, 2.25; 3 year, 3.0%; 4 year 3.6%; 5 year, 4.25%
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