The Christian Reformed Church’s Loan Fund has been helping churches build, buy, or expand their worship spaces for 25 years.
As current director Carl Gronsman looks back, he remembers many unusual stories, such as start-up churches that met in movie theaters or funeral homes before finally having their own places for worship.
CRC leaders first considered a denominational loan fund in 1981. A report to synod (the CRC’s annual leadership meeting) stated that the fund’s purpose would be to assist churches interested in borrowing money and to provide a depository for those wishing to lend to churches.
Since the Loan Fund began operating in 1983, it has served more than 150 churches and its assets have grown to nearly $36 million. Total investments to the fund are now $30.1 million; loans receivable currently total $28.2 million.
“The Loan Fund’s ministry is unique in that it is able to sustain its ministry by utilizing investments from those who desire to not only earn reasonable returns but also further the work of the kingdom,” said Gronsman.
The Loan Fund replaced the Church Help Fund, which provided a limited number of interest-free loans to churches but was not set up to provide all the services that the Loan Fund now offers.