After our Town Hall April 28th, the Board and Pippin were presented with an idea, what if we did an internal no interest loan among members of the congregation to pay back our loan at the bank?
The board discussed and agreed to move forward with this idea.
What is it?
Generous members and friends of the congregation would offer UUFA a loan. The board would utilize these loans from these individuals and pay off our bank loan at Cadence Bank, relieving external financial commitments.
The minimum to participate is $5,000 and maximum would be the remainder of the loan which is estimated $140,000
What about the Capital Campaign? We did a great job. The balance owed as of 5/16/25 is currently $414,593. At this point due to the generous pledges from the Capital Campaign we anticipate being able to pay $275,621 off of our loan which leaves us a remaining of $138,972.
The loans will be paid back at a rate of 10% annually in January each year.
If you are interested in participating, please complete this Letter of Intent which is needed by June 8th. Promissory notes must be received by June 15th and we will need payments by June 30th to pay off our loan in August 2025.
Please contact Susie Weller, president@uuathensga.org with questions, inquiries and completed documents.