Church Loans & Mortgages

Since 1938, The Pentecostal Assemblies of Canada has been assisting churches with loans for approved capital projects through the PAOC Pension Plan and Certificate Mortgage Programs.

Approximately 260 affiliated congregations currently carry First Mortgage loans through the PAOC Pension Plan or Certificate Mortgage Loans.

For information about national banking services and church loans, please contact the office of the Assistant Superintendent for Fellowship Services.  If your church is considering borrowing funds for approved capital projects, a variety of sources are available to you!

Services Provided

1. District Capital Loan Funds
2. PAOC Pension Plan Loans
3. PAOC Certificate Mortgage Loans
4. Bank Financing

1. District Capital Loan Funds:  Several of the PAOC District Offices provide church loan services for smaller loans related to church building programs.

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2. PAOC Pension Plan Loans:   Pension Plan loans are funded Member and Employer contributions accumulated in the Plan.  Most of the plan assets, currently about 60%, are invested in church or ministry related loans subject to the availability of funds.  It generally takes approximately six weeks to process a loan application and obtain a mortgaage security.  Loans are secured by a First Mortgage registered on the title in favour of the Pension Plan.  For information about lending rates, funds available, repayment procedures, or for a loan application, you may contact Rev. Calvin Howson at (905) 542-7400 or e-mail pfloans@paoc.org 

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3. PAOC Certificate Mortgage Loans:  These loans are funded through individual investors and various trust funds, and are all secured by a First Mortgage registered on the title in favor of the Pentecostal Financial Services Group.  For information about the Certificate Mortgage Program, you may contact Sharon Cini at (905) 542-7400 or e-mail cmloans@paoc.org

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4. Bank Financing:  Many churches also qualify for bank financing for capital projects.   If you are considering approaching a bank, you will need to know if the title is held in the corporate name of the church or if the title is held in trust by The Pentecostal Assemblies of Canada.

• If the title is held by the PAOC in trust for the local assembly, the mortgage documents will need to be signed by The Pentecostal Assemblies of Canada on behalf of the local assembly.  In this case, it is necessary to contact the PAOC at least six weeks prior to the date on which the funds are to be advanced.  The PAOC will require confirmation that the specific borrowing has at least 75% congregational approval, and that the project and the borrowing have district approval.  The PAOC will require a special 'non-recourse on the covenant clause' on all mortgages except mortgages in the Province of Saskatchewan.  All requirements can be obtained HERE. 

For information about PAOC bank financing procedures, e-mail bloan@paoc.org.

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