nFOG Resources > Property > If a church’s loan is guaranteed by the presbytery and the church moves to another presbytery, what happens to the guarantee?
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The guarantee will be the responsibility of the original presbytery that signed the guarantee agreement unless a new guarantee agreement is signed by the new presbytery. The Presbyterian Investment and Loan Program (PILP) will not automatically move the guarantee. PILP will evaluate the credit strength of the succeeding presbytery and decide on a loan-by-loan basis whether the guarantee can be transferred or if there will be two guarantee agreements.
Last updated on Sep 22, 2011 by Seattle Presbytery