Buying or Building?

If your meeting is considering renovating its existing space, purchasing a building, or constructing a new meeting house, the Friends Meeting House Fund might be able to help finance your project with a mortgage loan.

We also have a service to offer during the initial stages of planning. The directors of the Fund have developed guidelines and detailed checklists for financial and space planning that can guide you through the process of deciding the right course of action for your meeting.

When an application is under consideration we will also arrange for a consultation visit with your property committee and other interested Friends in the meeting.

If funds are available, and if we are able to help with the financing, the money will be offered with a note, repayable monthly or quarterly with a fixed interest rate (currently 7%) for a term of 15 years or less. There are no prepayment penalties. The Friends Meeting House Fund will hold a mortgage on the property for the duration of the loan.

The original amounts of current loans to 16 meetings range between $30,000 and $175,000. The amount borrowed was determined by the needs of the meeting and the availability of the funds in the Friends Meeting House Fund. Some of the meetings with current loans are Burlington (VT), Chatham-Summit (NJ), Durham (NC), Salt Lake (UT), San Antonia (TX), and Tampa (FL).