WHAT IS PILP?
The Presbyterian Church (USA) Investment and Loan Program, Inc. is a nonprofit corporation of The Presbyterian Church (USA) that was created to provide low-cost loans to churches, governing bodies and related entities of the denomination for capital projects. Some of the funds for these loans come from money invested by Presbyterian members, churches and governing bodies.
What does PILP mean to PCCT? PILP now holds the mortgage that helped pay for the 2006 construction project, the third building project in PCCT’s history, which provided new office spaces, Halldorson Hall, elevator access to all floors, and additional classrooms, all with the goal of providing space to grow our mission now and for future generations. The interest rate on the PILP mortgage is meaningfully lower than that of a commercial bank, benefitting PCCT with lower borrowing costs.
What PILP can mean to PCCT Members? You can be an investor. Your investment earns interest with a return that is competitive with similar types of investments. Also, when you invest in PILP, it can help reduce the cost of PCCT’s loan plus make low-cost loans available to other Presbyterian churches.
Please contact the church office (973-635-2340) for more information or read the brochure.