Loans, Grants and Scholarships

Jubilee Loan Program
The Jubilee Loan Program is a limited loan resource that Grace Presbytery makes available to congregations and new church developments for non-programmatic capital expenditures that are outside of usual one-year budget cycles. Ordinarily, such loans are made only when other loan sources are not available.

Jubilee Loans are considered for repairs, new or replacement equipment, small renovations, such as providing handicap access or meeting building codes, repairing parking lots or a variety of other unexpected expenses.

All Jubilee loans are subject to approval by the Administrative Commission on Property (ACP), upon compliance with the ACP’s general, small loan requirements. Loans to existing congregations must first be approved by the Committee on Ministry; loans to new church developments must first be approved by the Church Development Committee.

Jubilee loans meet the following criteria:

  • The aggregate principal amount of such loans outstanding at any one time shall not exceed $100,000
  • Each loan must be repayable in equal monthly installments over 10 years at 5% interest
  • The loan documents shall contain covenants requiring the congregation to provide the Presbytery with financial information at least annually, and evidence of insurance coverage
  • The loan documents shall contain a covenant that any Jubilee Loan shall be repayable in full if the congregation dissolves or becomes a member of any other denomination than the PC(USA)
  • A copy of the action of the Session of the borrowing congregation authorizing the loan shall be provided to Grace Presbytery at the time the loan is requested

Requests from a congregation or new church development for ACP approval of a Jubilee loan are to be accompanied by written information from which the ACP may reasonably conclude that the congregation/new church development demonstrates, both historically and prospectively, a significant commitment to the life, mission, and ministry of the Presbyterian Church (USA), and recognizes and appreciates the unique connectional relationship that exists among individual congregations and more inclusive councils of the church.

Please contact Jan DeVries, email or 214-630-4502, for further information about the Jubilee Loan program including the process for applying for such a loan.

The ACP Manual may be accessed by clicking on the link below.

ACP Manual

 

Congregational Mission Initiative Grants
Does your congregation have an idea for a new ministry? Are you needing “seed money”? The Congregational Mission Initiative Grant’s purpose is to encourage and support the congregations n the creation of new and innovative ministries within the congregations and communities that they serve. These funds are intended to be “seed money” that will enable congregations to create new ministries, and as such, they will be limited to one year of funding.


2018 Mission Initiative Grant Fill In Application

 

Committee on Preparation for Ministry Scholarships

2017 – 2018 Scholarship Application
2017 Scholarship Letter