The Jacksonville Baptist Association (JBA)doing business as First Coast Churches is pleased to announce a micro loan initiative that will be managed by the Equip Team and supported as needed by the FCC/JBA Staff Team.

The Equip Team will receive micro loan applications for consideration from JBA/FCC member churches that presently give to and are in good standing with the Cooperative Program and the Association.  

As Jacksonville Baptist Association/First Coast Churches is not a bank or a lending institution, micro loans will not be administered as a source of revenues and as such will have simple loan terms:

• $5,000 – minimum loan amount 
• $30,000 – maximum loan amount
• 5.00% – interest rate, compounded simply
• 5 years – maximum repayment period with equal monthly payments – any and all additional payments, up to payoff, will be accepted without penalty
• Properly authorized Corporate Officers of the borrowing church must sign a detailed Promissory Note for approved micro loans.
• Micro loan requests from churches must be approved in an official business meeting of the requesting church.
• The church will submit the business meeting approval for the loan request along with a completed application.  
• The application will gather church information; the amount, or range, of the loan being requested; purpose of the loan; repayment plan and repayment means; budget for current year; and financial statements for the previous two years
• A signed acknowledgement that submission of the micro loan request and application is not a guarantee of approval by the Association. 

Download the application below and email it to darlene@firstcoastchurches.com to get started.