The Covenant Building Investment fund
The Covenant Building Investment Fund is an opportunity for our church body to help accelerate our timeline for building our 20,000 sq ft church building on Borror Rd.
How It Works
You Invest
You invest in a WatersEdge Kingdom Investment Account that earns a return (currently 5.05%).
Investment Hold
Your investment is not held for a specific time period. It is held until our building loan payment amounts to 25% of our average giving, calculated over a 24 month period.
Investment Collateral
The collective invested amount is used as collateral on our loan from WatersEdge, allowing us to borrow enough money to build now instead of someday.
What is next?
August 25th
Email finance@covenantchurch.us with your name and the amount that you're willing to invest (minimum investment is $25,000)
August 29th
Once you receive the "clear to invest" email from our finance team. Open your Kingdom Investment Account with WatersEdge by clicking (here). All accounts must be open and funded by Tuesday, August 29th. (It can take 3-5 business days for transfers to take effect).
September 5th
You will be contacted by WatersEdge to sign a security document, stating that your investment is a part of the collateral for our building loan - to be held until we have reached the 25% threshold.
September 8th
These must all be signed and returned by September 5, as we prepare to close our building loan on September 8.