 |
|
|
|
|
|
Jubilee Fund
The Jubilee Fund is a resource which enables the Church Development Committee to make low-interest loans to churches and new church developments in Grace Presbytery for non-programmatic capital expenses which are outside of normal one-year budget cycles.
Jubilee Loans can be used for repairs, new or replacement equipment, small renovations, such as providing handicap access or meeting building codes, repairing park lots or a variety of other unexpected expenses.
The size of the Jubilee Fund is approximately $400,000 and is intended to exist in perpetuity, with all interest and principal payments received from loans being deposited back into the Fund.
Click here for a Jubilee Fund Application. Contact the Church Development Office for any questions about the fund.
Policies for the Jubilee Fund
Application is made to the Church Development Committee (CDC), through the Presbytery Office, for a loan. The CDC considers the application, using the criteria explained in this brochure, at their following meeting.
Loans made from the Fund are unsecured by other assets. The amount of each loan generally does not exceed $25,000.
The terms of repayment will not exceed 10 years and will be made at a 5% simple interest rate.
Congregations receiving Jubilee Loans shall continue to commit at least 10% of their program budget to Unified Mission Giving or increase their giving at a rate of at least 2% per year until 10% is reached or exceeded.
|
 |
|
Manual
(acp_manual_2010.pdf, 126 kb) |
|
|
|
|
|
