Loans available from the SNU Trust

The SNU Trust is only able to lend funds to churches who are members of the SNU Trust churches and offer two types of loan:

Advance – this is for larger projects which need more funds over a longer period of time, the Advance would be secured on your church building.

Green Loans – more suitable for smaller projects with a maxiumum loan amount of £2,000 which would be underwritten by the Spiritualists’ National Union.

It is important that churches taking out loans are able to comfortably afford the repayments over the full term and we work closely with any church to ensure that they are are able to repay without difficulty. The SNU Trust takes care to not put any church committee or it’s members under financial pressure.

Things to Consider

Any application must ensure that the church can demonstrate an ability to meet any repayments based on normal church activities. Whilst we understand that your plans may include additional events that would generate income, it would be difficult to sustain this over the full term of any loan.

Key to any loan application is the availability of three years church accounts which will allow the Trust to asses the affordability of any loan. However we understand that the last two years would not give a true reflection of the church’s activities and we currently ask for five years accounts to give a better picture of the financial position of the church.

As any loan must be secured, you will need to notify the SNU of your plans and we would encourage you to contact them at the outset. A crucial part of any project is to ensure that you understnd the total financial commitment of any work and the Union are able to assist in obtaining the approppriate surveys, quotes and other costings. Once any loan is agreed and the charge is in place, the Trust is unable to lend any further funds without going through the application process again.

Repayments

If, once you have an understanding of how much you might wish to borrow, you would like to know how much monthly repayments would be then please just contact us and we would be happy to provide illustrations which can be tailored to your needs.

There are no penalties for over payments or early repayment and we encourage churches to clear their loans as soon as possible without putting themselves under financial pressure.

How to Apply

If your church would like to apply for an Advance then please contact us to discuss your requirements

If your project requires funding of less than £2,000 then you may be able to apply for a Green Loan, visit our dedicated page for further information

Security

The SNU Trust is unable to lend any funds without taking out security and no funds can be released until the legal charge is in place at Land Registry.

What Our Members Say About Us

”The committee would like to extend their grateful thanks for the grant towards the interest on the loan.

It is very thoughful and as a Spiritualist community we hope we can begin to get back to some sense of normality very soon”

Eastwood church

”May I thank you for your advice and help in enabling us to carry out these transactions quickly and smoothly, it has taken a great deal of anxiety away for the members”

Chippenham First Spiritualist Church

“… you helped enormously, and I would like to thank you for all the hard work and support you have given and continue to give us…”

West London DC