American Church Mortgage Co.

• Public
• US

Dow Jones Description

Incorporated as a Minnesota corporation on May 27, 1994, we operate as a Real Estate Investment Trust ("REIT") and are engaged in the business of making mortgage loans to churches and other non-profit religious organizations throughout the United States. The principal amount of loans we offer ranges from $100,000 to $2,000,000. We may also invest up to 30% of our Average Invested Assets in mortgage secured debt securities (bonds) issued by churches and other non-profit religious organizations. Between the date upon which we began active business operations (April 15, 1996), and February 28, 2005, we have made 117 loans to 106 churches in the aggregate amount of $49,927,061, with the average principal amount of such loans being $426,727. Of the 117 loans we have made, 25 loans totaling $11,756,350 have been repaid early by the borrowing churches. We also own, as of February 28, 2005, $9,093,790 principal amount of Church Bonds, which we purchased at a price of par value ($1,000) or less.

President, CEO, CFO, Chief Accounting Officer, Treasurer & Secretary

Contact Information

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