April 10, 2020         
Summer Camp Online Becomes World's First Online Only Recreation Center   •   How women are undervalued at the negotiation table, and what we can do to change it   •   In The Face Of Ethical Aberrations In Several States Colorado Stands Strong Against Discrimination In COVID-19 Care   •   EasterAcrossAmerica.com Aims to Bring Hope to the Country with a Family-Friendly 2-Hour Video Streaming Event on April 12 at 7pm   •   SurveyVitals Releases National COVID-19 ‘Patient Views’ Report   •   YouCam Makeup Extends Hours for Live Shows and Beauty Advisor 1-on-1 Consultations to Meet Record High Activity as Users Stay Ho   •   EWTN's Divine Mercy Programming Includes Live Novena to the Divine Mercy in Time of Pandemic   •   Fraser Hope Line Connects Individuals to a Mental Health Professional Immediately   •   For the First Time, DoubleTree by Hilton Reveals Official Chocolate Chip Cookie Recipe So Bakers Can Create the Warm, Welcoming   •   New Consumer Research from Alpha: Only 45% of Consumers Say That Accessing Cash is Important Right Now; Understanding How to Bes   •   Radio One Hosts A COVID-19 National Day Of Prayer On Good Friday, April 10, 2020   •   RE/MAX Donations to Children's Miracle Network Hospitals Cross $160 Million Mark   •   Nintendo Download: Eggs Mark the Spot in Animal Crossing: New Horizons!   •   New Study: Majority of Americans Believe Stores Should Reopen by End of May, 2020   •   Kia Motors Donates $1 Million To Aid Homeless Youth During The COVID-19 Pandemic   •   Liberty Global Announces Creation of $4 Million COVID-19 Employee Assistance Fund   •   BRAVADA International Provides Full Year 2020 Outlook and Update to Shareholders on its Business     •   Merck Announces $3M Commitment to Address Critical Maternal Health Needs During COVID-19 Pandemic   •   Maine Students to Speak with NASA Astronauts Aboard Space Station   •   UPDATE Delivery of 2020 Census Paper Questionnaires Begin
Bookmark and Share

Knights of Columbus To Offer Secured $100 Million Line of Credit for US Dioceses

Knights of Columbus To Offer Secured $100 Million Line of Credit for US Dioceses

Low-interest products will help dioceses weather financial impact of pandemic

PR Newswire

NEW HAVEN, Conn., March 26, 2020 /PRNewswire/ -- The Knights of Columbus has announced a new program to assist dioceses with short-term financing as many dioceses and their parishes reel from the effects of the pandemic.

The Knights has established a $100 million fund, with up to a $1 million secured line of credit per Catholic diocese. The program will be available for 60 days beginning on Monday, March 30.

"It is critical for us to support the Catholic Church in the United States at this time, so that the Church can continue to provide irreplaceable spiritual and charitable support, and can keep the staff supporting its mission and outreach employed," said Knights of Columbus CEO Carl Anderson. "Our fund is designed specifically to help dioceses and their parishes weather this pandemic financially so that they can continue their important work – now and after the pandemic."

The lines of credit will have a very competitive interest rate equivalent to that of the one-year Treasury bill, plus 225 basis points (2.25%).

The line of credit has a two-year term. At the end of that term, dioceses will have the option to convert the line of credit to a Knights of Columbus church loan, fully amortizing at the prevailing rate for a term selected by the borrower of five, 10 or 20 years – the same low-interest terms offered by the Knights' existing and long-standing ChurchLoan program. The Knights of Columbus has been a key lender to parishes and dioceses for more than a century, and the ChurchLoan program remains a key source of financing for Catholic parishes and institutions.

In addition to the offer of financing to dioceses, the Knights of Columbus is responding to the COVID-19 pandemic with a number of grass roots and community programs. The organization has urged its members to help support those in need of food and other essentials, and to participate in blood drives – a longstanding K of C tradition. It was the Knights who pioneered nationwide blood drives in the United States in the 1930s.

About the Knights of Columbus

The Knights of Columbus is one of the nation's premiere volunteer and charitable organizations. Last year, Knights worldwide donated 76 million service hours, and more than $185 million to charitable causes in communities throughout the Americas, as well in Europe, Asia and the Middle East. From helping children in need, to providing wheelchairs for the disabled, to organizing blood drives, to helping stock food banks, to offering top-rated and affordable life insurance to its members, the Knights has been at the service of the community and the Church for more than 130 years.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/knights-of-columbus-to-offer-secured-100-million-line-of-credit-for-us-dioceses-301030627.html

SOURCE Knights of Columbus



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News