wfn.org | PILP Receives Investment of More than $714,000

[PCUSA.NEWS@pcusa.org]

21-November-1997 
97454 
 
    PILP Receives Investment of More than $714,000 
 
    by Julian Shipp 
 
LOUISVILLE, Ky.--The Presbyterian Investment and Loan Program (PILP) has 
received an investment of more than $714,000 from the Synod of Southern 
Californian and Hawaii, following the synod assembly Oct. 23-25 in San 
Diego. 
 
    Jaye Fairchild, assembly moderator, presented the investment to the 
Rev. Kenneth G.Y. Grant, PILP president, in what she described as an 
"exciting and fulfilling moment." "We hope it will have a real impact in 
the church," she said. "We hope that it will tip the balance and encourage 
Presbyterians to support new church development." 
 
    PILP underwrites loans for refinancing existing mortgages and finances 
expansion projects and new construction. The loan rate charged 
congregations is 8 and one-eighth percent as of  Nov. 1, 1997. A rebate 
program based on investment performance can lower the effective rate by 1 
percent. 
 
    For more information on PILP's services, contact Betsy Blocker, PILP 
senior administrative assistant, at 1-800-903-7457 or (502) 569-5868. 
E-mail can be sent to BetsyB@ctr.pcusa.org and regular mail to Betsy 
Blocker, 100 Witherspoon Street, Louisville, KY 40202-1396. 

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