NCSC-Refinancing Details

[Ncsc (नेपाली मन्दिर)]

Dear Donors and fellow community members,

On behalf of NCSC BOT executive committee, I would like to thank you for your support and generous contribution to NCSC. We cannot say it enough to your response to our recent appeals for donation and memberships. This has helped us pay off the big chunk of a loan and secure the refinancing of the remaining loan. This indeed is another big milestone for our community. Congratulation!!

To give you a quick background, when we purchased the NCSC building few years back, we only had an option of owner finance since no banks were ready to do so. The loan was classified as a balloon loan with option of paying off or finding an alternate way to refinance by July 2017. With your support, we tried very hard to pay off the loan but came little short. Therefore, we went with the option of refinancing the remaining amount.

I would like to thank MR. Kapil Adhikari for his role on securing the loan in a very short notice and in a great rate. In addition, I would like to extend my gratitude to all individuals who helped us sail through this process seamlessly.

Please see the details of loan and the refinancing below.

Total Loan Amount	Down Payment	Remaining Balance	Interest Rate	Payoff By
$352,000.00	$240,000.00	$112,000.00	5.50%	4 Years

 

Again, thank you for your support and warm affection to this institution. Please let me know if you have any question regarding this effort.

Sincerely,

Manoj Sigdel

Vice President (Strategy and Finance)

Board Of Trustees(BOT)

214-529-7990

Nepalese Cultural and Spiritual Center (NCSC)
2016 W. Grauwyler Rd, Irving, TX, 75061
Ph: 972-986-7779(NCSC Office) / 817-703-4828 (Cell)
E-Mail: ad...@ourncsc.org
http://ourncsc.org