In the current uncertainty surrounding COVID-19, it is likely to be financially stressful for parishes as opportunities for open plate collections diminish and our community suffers the pain of business slowdown and unemployment.
AFSA with the support of Synod office has developed a number of initiatives to support our Parishes and the Anglican Community.
The conversion of an existing Parish loan from principal and interest to interest-only for a period of one year if requested by the Parish.
EARLY TERMINATION OF TERM INVESTMENTS
The waiver of early termination penalties on existing Parish Term Investments on the basis of financial hardship experienced as a result of the current COVID-19 Pandemic.
LINE OF CREDIT FACILITY
Short term working capital facilities to a maximum of *$10k per Parish for 12 months on the basis of financial hardship experienced by the current COVID-19 Pandemic.
*Requests for higher amounts will be considered upon request and will be assessed within AFSA’s standard underwriting guidelines.
Don’t forget Parishes can also take advantage of;
ANNUAL INSURANCE PREMIUM LOAN
A simple and convenient Loan to assist the smoothing on cash flow of the annual upfront insurance premium. Funded short term over 12 months the Loan is cleared in full before the next years premium is due assisting the Parish remains on top of its insurance obligations.
Please look out for further communication from AFSA directly to Parish Treasurer’s or contact AFSA directly on 08 8305 9305 or firstname.lastname@example.org
AFSA Supporting the Anglican Community