The Christian Reformed Church Loan Fund was established by synod in 1983 for the benefit of Christian Reformed churches in the United States. The Loan Fund makes loans available to any CRC in the United States wishing to purchase or build a church facility or parsonage, purchase land, or make improvements or repairs to existing property.
Funds for the loans come from investments made by individuals, Christian Reformed congregations, classes, and other CRC-related organizations. Investors earn an excellent return and know that their money is helping churches to acquire or upgrade facilities.
Growth continued at a record pace last year. Loans receivable increased by over $4.5 million to an all-time high of $16.7 million. Assets grew by $1.7 million to $21.8 million, and net assets increased by $390,000. Investments increased to $17.4 million as more investors took advantage of attractive rates offered by the Loan Fund.
Last year loan commitments totaling $6,621,904 were made to 12 churches, another all-time high. These loans were in amounts ranging from $65,000 to $1.3 million for purposes that included installing a new roof as well as building an entire new facility.
Family of Faith Church, a new church plant in Peoria, Ill., purchased an existing church building with a loan from the fund. Avery Street CRC in South Windsor, Conn., lost its building in a fire in 2003. With the help of a loan from the Loan Fund, they will soon begin building a new facility.
Other churches, including Prairie Edge CRC in Portage, Mich.; Sunshine Community in El Paso, Texas; New Hope CRC in Dunwoody, Ga.; Bellevue CRC in Bellevue, Wash.; Hope CRC in Houston, Texas; and Grant (Mich.) CRC were able to build significant additions to their facilities.
These churches and many others have benefited from low-cost loans made possible because CRC members chose to invest in the Loan Fund. The Loan Fund will continue to work to attract new investors and additional investments in the coming year.
The CRC Loan Fund
lends to CRC churches in the United States for small and large capital projects.
obtains the money it lends from investments made by CRC members, churches and classes, and related organizations.
does not solicit gifts or receive ministry shares.
offers a variety of investment options.